Investment Securities (Tables)

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Available-for-sale securities reconciliation

The following tables set forth the carrying values and estimated fair values of our investment securities portfolio at the dates indicated (in thousands):



	December 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Available-for-Sale Securities
Debt Securities:
U.S. Government agencies	$	52,803	$	315	$	(217	)	$	52,901
Obligations of states and political subdivisions	181,785		6,779		(296		)	188,268
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	225,636		1,042		(1,419		)	225,259
Private label residential mortgage backed securities	2,356		1,234		—			3,590
Other equity securities	7,500		36		—			7,536
	$	470,080	$	9,406	$	(1,932	)	$	477,554



	December 31, 2015
Held-to-Maturity Securities	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Debt securities:
Obligations of states and political subdivisions	$	31,712	$	3,431	$	(1	)	$	35,142



	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

Securities in a continuous unrealized loss position

Investment securities with unrealized losses at December 31, 2015 and 2014 are summarized and classified according to the duration of the loss period as follows (in thousands):



	December 31, 2015
	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	$	21,348	$	(125	)	$	3,954	$	(92	)	$	25,302	$	(217	)
Obligations of states and political subdivisions	40,016		(296		)	—		—			40,016		(296		)
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	124,688		(1,109		)	16,234		(310		)	140,922		(1,419		)
	$	186,052	$	(1,530	)	$	20,188	$	(402	)	$	206,240	$	(1,932	)



	December 31, 2015
	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	$	1,053	$	(1	)	$	—	$	—	$	1,053	$	(1	)



	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	)

Realized gains and losses

Proceeds and gross realized gains (losses) on investment securities for the years ended December 31, 2015, 2014, and 2013 are shown below (in thousands):



	Years Ended December 31,
	2015			2014			2013
Available-for-Sale Securities
Proceeds from sales or calls	$	93,167		$	79,757		$	88,146
Gross realized gains from sales or calls	$	1,715		$	1,754		$	2,728
Gross realized losses from sales or calls	$	(234	)	$	(850	)	$	(1,463	)
Held-to-Maturity Securities
Proceeds from calls	$	810		$	—		$	—
Gross realized gains from calls	$	14		$	—		$	—

Credit losses recorded in earnings

The following table provides a rollforward for the years ended December 31, 2015 and 2014 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,
	2015		2014
Beginning balance of credit losses recognized	$	747	800
Amounts related to credit loss for which an OTTI charge was not previously recognized	—		—
Change in value attributable to other factors	—		(53		)
Ending balance of credit losses recognized	$	747	$	747

Investments by contractual maturity

The amortized cost and estimated fair value of investment securities at December 31, 2015 and 2014 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, 2015
Available-for-Sale Securities	Amortized Cost		Estimated Fair Value
Within one year	$	—	$	—
After one year through five years	12,297		12,695
After five years through ten years	37,376		38,397
After ten years	132,112		137,176
	181,785		188,268
Investment securities not due at a single maturity date:
U.S. Government agencies	52,803		52,901
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	225,636		225,259
Private label residential mortgage backed securities	2,356		3,590
Other equity securities	7,500		7,536
	$	470,080	$	477,554

December 31, 2015

Held-to-Maturity Securities

Amortized
Cost

Estimated
Fair Value

After ten years