Investments (Tables)

6 Months Ended

Jun. 30, 2018

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, 2018
Available-for-Sale Securities	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Debt securities:
U.S. Treasury securities	$	32,741	$	—	$	(49	)	$	32,692
U.S. Government agencies	7,228		—		(125		)	7,103
Obligations of states and political subdivisions	130,743		3,093		(828		)	133,008
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	227,027		203		(5,637		)	221,593
Private label mortgage and asset backed securities	92,774		800		(3,969		)	89,605
Total available-for-sale	$	490,513	$	4,096	$	(10,608	)	$	484,001



	December 31, 2017
Available-for-Sale Securities	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Debt securities:
U.S. Government agencies	$	65,994	$	667	$	(74	)	$	66,587
Obligations of states and political subdivisions	136,955		6,240		(90		)	143,105
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	237,210		601		(2,903		)	234,908
Private label mortgage and asset backed securities	91,033		924		(1,276		)	90,681
Total available-for-sale	$	531,192	$	8,432	$	(4,343	)	$	535,281

Realized gains and losses

Proceeds and gross realized gains (losses) from the sales or calls of investment securities for the periods ended June 30, 2018 and 2017 are shown below (in thousands):



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
Available-for-Sale Securities	2018			2017			2018			2017
Proceeds from sales or calls	$	62,301		$	50,085		$	131,617		$	75,007
Gross realized gains from sales or calls	249			2,659			1,316			3,391
Gross realized losses from sales or calls	(167		)	(502		)	(419		)	(752		)

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, 2018
	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. Treasury securities	$	32,692	$	(49	)	$	—	$	—		$	32,692	$	(49	)
U.S. Government agencies	7,103		(125		)	—		—			7,103		(125		)
Obligations of states and political subdivisions	46,501		(687		)	3,284		(141		)	49,785		(828		)
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	144,623		(2,945		)	44,649		(2,693		)	189,272		(5,638		)
Private label mortgage and asset backed securities	57,206		(2,548		)	30,321		(1,420		)	87,527		(3,968		)
Total available-for-sale	$	288,125	$	(6,354	)	$	78,254	$	(4,254	)	$	366,379	$	(10,608	)



	December 31, 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	$	8,201	$	(47	)	$	6,741	$	(27	)	$	14,942	$	(74	)
Obligations of states and political subdivisions	1,627		(3		)	3,357		(87		)	4,984		(90		)
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	82,604		(822		)	64,488		(2,081		)	147,092		(2,903		)
Private label mortgage and asset backed securities	88,312		(1,276		)	—		—			88,312		(1,276		)
Total available-for-sale	$	180,744	$	(2,148	)	$	74,586	$	(2,195	)	$	255,330	$	(4,343	)

Credit losses recorded in earnings

The following tables provide a roll forward for the six months month periods ended June 30, 2018 and 2017 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 Six Months Ended June 30,
(In thousands)	2018		2017
Beginning balance	$	874	$	874
Amounts related to credit loss for which an OTTI charge was not previously recognized	—		—
Increases to the amount related to credit loss for which OTTI was previously recognized	—		—
Realized gain for securities sold	—		—
Ending balance	$	874	$	874

Investments by contractual maturity



	June 30, 2018
Available-for-Sale Securities	Amortized Cost		Estimated Fair Value
Within one year	$	33,379	$	33,331
After one year through five years	1,857		1,884
After five years through ten years	24,181		24,333
After ten years	104,067		106,152
	163,484		165,700
Investment securities not due at a single maturity date:
U.S. Government agencies	7,228		7,103
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations	227,027		221,593
Private label mortgage and asset backed securities	92,774		89,605
Total available-for-sale	$	490,513	$	484,001