Securities (Tables)

9 Months Ended

Sep. 30, 2016

Investments Debt And Equity Securities [Abstract]

The following table provides a summary of the Company’s securities AFS portfolio as of:

	Amortized		Gross Unrealized					Estimated
(dollars in thousands)	Cost		Gains		Losses			Fair Value
September 30, 2016:
US Treasury securities	$	300	$	—	$	—		$	300
Agency mortgage-backed securities		489,233		9,749		(96	)		498,886
Beneficial interests in FHLMC securitization		44,505		121		(1,109	)		43,517
Total	$	534,038	$	9,870	$	(1,205	)	$	542,703

December 31, 2015:
US Treasury securities	$	300	$	—	$	—		$	300
FNMA and FHLB Agency notes		16,108		—		(95	)		16,013
Agency mortgage-backed securities		538,269		909		(3,030	)		536,148
Beneficial interests in FHLMC securitization		12,674		476		(476	)		12,674
Total	$	567,351	$	1,385	$	(3,601	)	$	565,135

Schedule of Securities in a Continuous Unrealized Loss Position Aggregated by Investment Category and Length of Time

The tables below indicate, as of September 30, 2016 and December 31, 2015 the gross unrealized losses and fair values of our investments, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position.

	Securities with Unrealized Loss at September 30, 2016
	Less than 12 months					12 months or more				Total
(dollars in thousands)	Fair Value			Unrealized Loss		Fair Value			Unrealized Loss	Fair Value		Unrealized Loss
Agency and FHLB Agency notes	$	46,649	$	(96	)	$	—	$	—	$	46,649	$	(96	)
Beneficial interests in FHLMC securitization		31,645		(1,109	)		—		—		31,645		(1,109	)
	$	78,294	$	(1,205	)	$	—	$	—	$	78,294	$	(1,205	)

	Securities with Unrealized Loss at December 31, 2015
	Less than 12 months					12 months or more				Total
(dollars in thousands)	Fair Value			Unrealized Loss		Fair Value			Unrealized Loss	Fair Value		Unrealized Loss
Agency notes	$	16,013	$	(95	)	$	—	$	—	$	16,013	$	(95	)
Agency mortgage backed securities		397,850		(3,030	)		—		—		397,850		(3,030	)
Beneficial interests in FHLMC securitization		12,674		(476	)		—		—		12,674		(476	)
	$	426,537	$	(3,601	)	$	—	$	—	$	426,537	$	(3,601	)

Scheduled Maturities of Securities AFS Other than Mortgage Backed Securities and the Related Weighted Average Yield

The scheduled maturities of securities AFS and the related weighted average yields were as follows as of September 30, 2016:

(dollars in thousands)	Less than 1 Year			1 Through 5 years			5 Through 10 Years			After 10 Years			Total
Amortized Cost:
US Treasury securities	$	—		$	300		$	—		$	—		$	300
Weighted average yield		—	%		0.90	%		—	%		—	%		0.90	%

Estimated Fair Value:
US Treasury Securities	$	—		$	300		$	—		$	—		$	300

- 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.

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