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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016
	Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Available-for-Sale Securities
Debt Securities:
U.S. Government agencies	$	69,005			$	242			$	(277	)		$	68,970
Obligations of states and political subdivisions	288,543				6,109				(4,353		)		290,299
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	181,785				484				(4,048		)		178,221
Private label residential mortgage backed securities	1,807				1,036				—				2,843
Other equity securities	7,500				—				(84		)		7,416
	$	548,640			$	7,871			$	(8,762	)		$	547,749

	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

Securities in a continuous unrealized loss position

Investment securities with unrealized losses at December 31, 2016 and 2015 are summarized and classified according to the duration of the loss period as follows (in thousands):

	December 31, 2016
	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	$	34,586			$	(198	)		$	10,438			$	(79	)		$	45,024			$	(277	)
Obligations of states and political subdivisions	122,522				(4,353		)		—				—				122,522				(4,353		)
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	118,719				(3,866		)		7,666				(182		)		126,385				(4,048		)
Other equity securities	7,416				(84		)		—				—				7,416				(84		)
	$	283,243			$	(8,501	)		$	18,104			$	(261	)		$	301,347			$	(8,762	)

	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	)

Realized gains and losses

Proceeds and gross realized gains (losses) on investment securities for the years ended December 31, 2016, 2015, and 2014 are shown below (in thousands):

		Years Ended December 31,
		2016				2015				2014
Available-for-Sale Securities
Proceeds from sales or calls		$	167,163			$	93,167			$	79,757
Gross realized gains from sales or calls		$	2,223			$	1,715			$	1,754
Gross realized losses from sales or calls		$	(999	)		$	(234	)		$	(850	)
Held-to-Maturity Securities
Proceeds from sales and calls		$	9,257			$	810			$	—
Gross realized gains from sales or calls		$	696			$	14			$	—

Credit losses recorded in earnings

The following table provides a rollforward for the years ended December 31, 2016 and 2015 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,
		2016				2015
Beginning balance of credit losses recognized		$	747			$	747
Amounts related to credit loss for which an OTTI charge was not previously recognized		136				—
Realized losses for securities sold		(9		)		—
Ending balance of credit losses recognized		$	874			$	747

Investments by contractual maturity

The amortized cost and estimated fair value of investment securities at December 31, 2016 and 2015 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, 2016							December 31, 2015
		Available-for-Sale							Held-to-Maturity							Available-for-Sale
		Amortized  Cost				Estimated  Fair Value			Amortized  Cost				Estimated  Fair Value			Amortized  Cost				Estimated  Fair Value
Within one year		$	—			$	—		$	—			$	—		$	—			$	—
After one year through five years		15,145				15,484			—				—			12,297				12,695
After five years through ten years		35,667				35,614			—				—			37,376				38,397
After ten years		237,731				239,201			31,712				35,142			132,112				137,176
		288,543				290,299			31,712				35,142			181,785				188,268
Investment securities not due at a single maturity date:
U.S. Government agencies		69,005				68,970			—				—			52,803				52,901
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations		181,785				178,221			—				—			225,636				225,259
Private label residential mortgage backed securities		1,807				2,843			—				—			2,356				3,590
Other equity securities		7,500				7,416			—				—			7,500				7,536
		$	548,640			$	547,749		$	31,712			$	35,142		$	470,080			$	477,554

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Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities.

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Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27340-111563

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
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