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Investment in Securities (Tables)

9 Months Ended

Sep. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of investment securities are summarized as follows:

		September 30, 2017
					Gross			Gross
		Amortized			Unrealized			Unrealized
(In thousands)		Cost			Gains			Losses			Fair Value
State and political subdivisions		$	406,833		$	11,086		$	924		$	416,995
U.S. government agencies			32,241			—			409			31,832
Certificates of deposit			8,241			—			—			8,241
Total		$	447,315		$	11,086		$	1,333		$	457,068

		December 31, 2016
					Gross			Gross
		Amortized			Unrealized			Unrealized
(In thousands)		Cost			Gains			Losses			Fair Value
State and political subdivisions		$	368,223		$	5,239		$	3,328		$	370,134
U.S. government agencies			13,075			—			403			12,672
Certificates of deposit			7,746			—			—			7,746
Total		$	389,044		$	5,239		$	3,731		$	390,552

Schedule of the Fair Value of Securities with Unrealized Losses

The fair values of securities with unrealized losses are as follows:

		September 30, 2017
		Less than 12 months						12 months or more						Total
		Estimated			Unrealized			Estimated			Unrealized			Estimated			Unrealized
(In thousands)		Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
State and political subdivisions		$	33,567		$	336		$	16,288		$	588		$	49,855		$	924
U.S. government agencies			29,162			338			2,670			71			31,832			409
Certificates of deposit			—			—			—			—			—			—
Total		$	62,729		$	674		$	18,958		$	659		$	81,687		$	1,333
		December 31, 2016
		Less than 12 months						12 months or more						Total
		Estimated			Unrealized			Estimated			Unrealized			Estimated			Unrealized
(In thousands)		Fair Value			Losses			Fair Value			Losses			Fair Value			Losses
State and political subdivisions		$	140,384		$	3,328		$	—		$	—		$	140,384		$	3,328
U.S. government agencies			12,672			403			—			—			12,672			403
Certificates of deposit			—			—			—			—			—			—
Total		$	153,056		$	3,731		$	—		$	—		$	153,056		$	3,731

Schedule of Amortized Cost and Fair Value of Investment

The amortized cost and fair value of investment securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties.

		September 30, 2017
(In thousands)		Amortized Cost			Fair Value
Due in 1 year or less		$	22,366		$	22,562
Due after 1 year through 5 years			56,315			57,476
Due after 5 years through 10 years			237,366			245,720
Due after 10 years			131,268			131,310
Total		$	447,315		$	457,068

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- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

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