XML 33 R22.htm IDEA: XBRL DOCUMENT v3.7.0.1

Investments (Tables)

6 Months Ended

Jun. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Available-for-sale securities reconciliation

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

		June 30, 2017
Available-for-Sale Securities		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Debt securities:
U.S. Government agencies		$	63,921			$	531			$	(31	)		$	64,421
Obligations of states and political subdivisions		217,112				8,506				(608		)		225,010
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations		193,644				696				(2,437		)		191,903
Private label mortgage backed securities		38,728				1,022				(436		)		39,314
Other equity securities		7,500				—				(21		)		7,479
Total available-for-sale		$	520,905			$	10,755			$	(3,533	)		$	528,127

		December 31, 2016
Available-for-Sale Securities		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
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 mortgage backed securities		1,807				1,036				—				2,843
Other equity securities		7,500				—				(84		)		7,416
Total available-for-sale		$	548,640			$	7,871			$	(8,762	)		$	547,749

Realized gains and losses

Proceeds and gross realized gains (losses) from the sales or calls of investment securities for the periods ended June 30, 2017 and 2016 are shown below (in thousands):

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
Available-for-Sale Securities		2017				2016				2017				2016
Proceeds from sales or calls		$	50,085			$	37,690			$	75,007			$	63,044
Gross realized gains from sales or calls		2,659				426				3,391				971
Gross realized losses from sales or calls		(502		)		(6		)		(752		)		(117		)

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
Held-to-Maturity Securities		2017				2016				2017				2016
Proceeds from sales or calls		$	—			$	—			$	—			$	9,257
Gross realized gains from sales or calls		—				—				—				696

Securities in a continuous unrealized loss position

Investment securities, aggregated by investment category, with unrealized losses as of the dates indicated are summarized and classified according to the duration of the loss period as follows (in thousands): 

		June 30, 2017
		Less than 12 Months								12 Months or More								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
Available-for-Sale Securities		Value				Losses				Value				Losses				Value				Losses
Debt securities:
U.S. Government agencies		$	—			$	—			$	10,867			$	(31	)		$	10,867			$	(31	)
Obligations of states and political subdivisions		28,805				(608		)		—				—				28,805				(608		)
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations		86,116				(1,922		)		30,622				(515		)		116,738				(2,437		)
Private label residential mortgage backed securities		36,674				(436		)		—				—				36,674				(436		)
Other equity securities		7,479				(21		)		—				—				7,479				(21		)
Total available-for-sale		$	159,074			$	(2,987	)		$	41,489			$	(546	)		$	200,563			$	(3,533	)

		December 31, 2016
		Less than 12 Months								12 Months or More								Total
		Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
Available-for-Sale Securities		Value				Losses				Value				Losses				Value				Losses
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		)
Total available-for-sale		$	283,243			$	(8,501	)		$	18,104			$	(261	)		$	301,347			$	(8,762	)

Credit losses recorded in earnings

The following tables provide a roll forward for the six month periods ended June 30, 2017 and 2016 of investment securities credit losses recorded in earnings. 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. 

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
(In thousands)		2017				2016				2017				2016
Beginning balance		$	874			$	883			$	874			$	747
Amounts related to credit loss for which an OTTI charge was not previously recognized		—				—				—				136
Increases to the amount related to credit loss for which OTTI was previously recognized		—				—				—				—
Realized gain for securities sold		—				(9		)		—				(9		)
Ending balance		$	874			$	874			$	874			$	874

Investments by contractual maturity

		June 30, 2017
Available-for-Sale Securities		Amortized Cost				Estimated Fair Value
Within one year		$	908			$	925
After one year through five years		14,955				15,287
After five years through ten years		39,209				40,256
After ten years		162,040				168,542
		217,112				225,010
Investment securities not due at a single maturity date:
U.S. Government agencies		63,921				64,421
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations		193,644				191,903
Private label mortgage backed securities		38,728				39,314
Other equity securities		7,500				7,479
Total available-for-sale		$	520,905			$	528,127

X

- Definition

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.

+ References

No definition available.

+ Details

Name:	us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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=82897076&loc=d3e27340-111563

+ Details

Name:	us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563

+ Details

Name:	us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration