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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]  
Available-for-sale securities reconciliation
The following two tables set forth the carrying values and estimated fair values of our investment securities portfolio at the dates indicated (in thousands):
 
December 31, 2014
 
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Estimated
Fair Value
Available-for-Sale Securities
 
 
 
 
 
 
 
Debt Securities:
 
 
 
 
 
 
 
U.S. Government agencies
$
33,088

 
$
245

 
$
(243
)
 
$
33,090

Obligations of states and political subdivisions
143,343

 
6,266

 
(314
)
 
149,295

U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations
236,629

 
2,033

 
(790
)
 
237,872

Private label residential mortgage backed securities
3,079

 
1,614

 
—

 
4,693

Other equity securities
7,500

 
85

 
—

 
7,585

 
$
423,639

 
$
10,243

 
$
(1,347
)
 
$
432,535


 
December 31, 2014
Held-to-Maturity Securities
Amortized
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Estimated
 Fair Value
Debt securities:
 

 
 

 
 

 
 

Obligations of states and political subdivisions
$
31,964

 
$
3,138

 
$
(6
)
 
$
35,096


 
December 31, 2013
 
Amortized
Cost
 
Gross Unrealized
 Gains
 
Gross Unrealized 
Losses
 
Estimated
 Fair Value
Available-for-Sale Securities
 
 
 
 
 
 
 
Debt Securities:
 

 
 

 
 

 
 

U.S. Government agencies
$
18,172

 
$
115

 
$
(84
)
 
$
18,203

Obligations of states and political subdivisions
162,018

 
2,906

 
(6,517
)
 
158,407

U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations
254,978

 
1,075

 
(2,344
)
 
253,709

Private label residential mortgage backed securities
4,344

 
1,047

 
—

 
5,391

Other equity securities
7,596

 
2

 
(84
)
 
7,514

`
$
447,108

 
$
5,145

 
$
(9,029
)
 
$
443,224
Securities in a continuous unrealized loss position
Investment securities with unrealized losses at December 31, 2014 and 2013 are summarized and classified according to the duration of the loss period as follows (in thousands):
 
December 31, 2014
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Available-for-Sale Securities
 

 
 

 
 

 
 

 
 

 
 

Debt Securities:
 

 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
$
10,950

 
$
(193
)
 
$
1,737

 
$
(50
)
 
$
12,687

 
$
(243
)
Obligations of states and political subdivisions
16,776

 
(89
)
 
15,290

 
(225
)
 
32,066

 
(314
)
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations
52,905

 
(420
)
 
31,000

 
(370
)
 
83,905

 
(790
)
 
$
80,631

 
$
(702
)
 
$
48,027

 
$
(645
)
 
$
128,658

 
$
(1,347
)
 
 
December 31, 2014
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Held-to-Maturity Securities
 

 
 

 
 

 
 

 
 

 
 

Debt Securities:
 

 
 

 
 

 
 

 
 

 
 

Obligations of states and political subdivisions
$
1,067

 
$
(6
)
 
$
—

 
$
—

 
$
1,067

 
$
(6
)

 
December 31, 2013
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Available-for-Sale Securities
 

 
 

 
 

 
 

 
 

 
 

Debt Securities:
 

 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
$
4,132

 
$
(75
)
 
$
968

 
$
(9
)
 
$
5,100

 
$
(84
)
Obligations of states and political subdivisions
89,556

 
(5,007
)
 
15,015

 
(1,510
)
 
104,571

 
(6,517
)
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations
148,853

 
(2,070
)
 
19,199

 
(274
)
 
168,052

 
(2,344
)
Other equity securities
7,416

 
(84
)
 
—

 
—

 
7,416

 
(84
)
 
$
249,957

 
$
(7,236
)
 
$
35,182

 
$
(1,793
)
 
$
285,139

 
$
(9,029
)
Realized gains and losses
Proceeds and gross realized gains (losses) on investment securities for the years ended December 31, 2014, 2013, and 2012 are shown below (in thousands):
 
 
Years Ended December 31,
 
 
2014
 
2013
 
2012
Available-for-Sale Securities
 
 

 
 

 
 

Proceeds from sales or calls
 
$
79,757

 
$
88,146

 
$
39,119

Gross realized gains from sales or calls
 
$
1,754

 
$
2,728

 
$
2,121

Gross realized losses from sales or calls
 
$
(850
)
 
$
(1,463
)
 
$
(482
)
Credit losses recorded in earnings
The following table provides a roll forward for the years ended December 31, 2014 and 2013 of investment securities credit losses recorded in earnings (in thousands). The beginning balance represents the credit loss component for which OTTI occurred on debt securities in prior periods.  Additions represent the first time a debt security was credit impaired or when subsequent credit impairments have occurred on securities for which OTTI credit losses have been previously recognized.
 
 
Years ended December 31,
 
 
2014
 
2013
Beginning balance of credit losses recognized
 
$
800

 
783

Amounts related to credit loss for which an OTTI charge was not previously recognized
 
—

 
17

Change in value attributable to other factors
 
(53
)
 
—

Ending balance of credit losses recognized
 
$
747

 
$
800
Investments by contractual maturity
The amortized cost and estimated fair value of investment securities at December 31, 2014 and 2013 by contractual maturity are shown in the two tables below (in thousands).  Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties.
 
 
December 31, 2014
Available-for-Sale Securities
 
Amortized 
Cost
 
Estimated 
Fair Value
Within one year
 
$
—

 
$
—

After one year through five years
 
2,904

 
3,167

After five years through ten years
 
17,592

 
18,457

After ten years
 
122,847

 
127,671

 
 
143,343

 
149,295

Investment securities not due at a single maturity date:
 
 

 
 

U.S. Government agencies
 
33,088

 
33,090

U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations
 
236,629

 
237,872

Private label residential mortgage backed securities
 
3,079

 
4,693

Other equity securities
 
7,500

 
7,585

 
 
$
423,639

 
$
432,535

 
 
 
December 31, 2014
Held-to-Maturity Securities
 
Amortized 
Cost
 
Estimated 
Fair Value
After ten years
 
31,964

 
35,096