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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2018
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, 2018
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Available-for-Sale Securities |  |  |  |  |  |  |
Debt Securities: |  |  |  |  |  |  |
U.S. Government agencies | $ | 21,723 |  |  | $ | — |  |  | $ | (402 | ) |  | $ | 21,321 |
Obligations of states and political subdivisions | 79,886 |  |  | 2,205 |  |  | (587 | ) |  | 81,504 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations | 239,388 |  |  | 253 |  |  | (4,711 | ) |  | 234,930 |
Private label mortgage and asset backed securities | 129,165 |  |  | 756 |  |  | (3,771 | ) |  | 126,150 |
| $ | 470,162 |  |  | $ | 3,214 |  |  | $ | (9,471 | ) |  | $ | 463,905 |
| December 31, 2017
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Available-for-Sale Securities |  |  |  |  |  |  |
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 |
` | $ | 531,192 |  |  | $ | 8,432 |  |  | $ | (4,343 | ) |  | $ | 535,281 |
Securities in a continuous unrealized loss position | Investment securities with unrealized losses at December 31, 2018 and 2017 are summarized and classified according to the duration of the loss period as follows (in thousands):
| December 31, 2018
| 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 | $ | 14,891 |  |  | $ | (254 | ) |  | $ | 6,430 |  |  | $ | (148 | ) |  | $ | 21,321 |  |  | $ | (402 | )
Obligations of states and political subdivisions | 10,056 |  |  | (99 | ) |  | 22,945 |  |  | (488 | ) |  | 33,001 |  |  | (587 | )
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations | 61,866 |  |  | (424 | ) |  | 124,673 |  |  | (4,287 | ) |  | 186,539 |  |  | (4,711 | )
Private label residential mortgage and asset backed securities | 31,325 |  |  | (195 | ) |  | 84,784 |  |  | (3,576 | ) |  | 116,109 |  |  | (3,771 | )
| $ | 118,138 |  |  | $ | (972 | ) |  | $ | 238,832 |  |  | $ | (8,499 | ) |  | $ | 356,970 |  |  | $ | (9,471 | )
| December 31, 2017
| 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 | $ | 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 residential mortgage backed securities | 88,312 |  |  | (1,276 | ) |  | — |  |  | — |  |  | 88,312 |  |  | (1,276 | )
| $ | 180,744 |  |  | $ | (2,148 | ) |  | $ | 74,586 |  |  | $ | (2,195 | ) |  | $ | 255,330 |  |  | $ | (4,343 | )
Realized gains and losses | Proceeds and gross realized gains (losses) on investment securities for the years ended December 31, 2018, 2017, and 2016 are shown below (in thousands):
|  | Years Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Available-for-Sale Securities |  |  |  |  |  |  |  |  |
Proceeds from sales or calls |  | $ | 246,824 |  |  | $ | 228,405 |  |  | $ | 167,163 |
Gross realized gains from sales or calls |  | $ | 1,976 |  |  | $ | 4,701 |  |  | $ | 2,223 |
Gross realized losses from sales or calls |  | $ | (662 | ) |  | $ | (1,899 | ) |  | $ | (999 | )
Held-to-Maturity Securities |  |  |  |  |  |
Proceeds from sales and calls |  | $ | — |  |  | $ | — |  |  | $ | 9,257 |
Gross realized gains from sales or calls |  | $ | — |  |  | $ | — |  |  | $ | 696 |
Credit losses recorded in earnings | The following table provides a rollforward for the years ended December 31, 2018 and 2017 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,
|  | 2018 |  | 2017
Beginning balance of credit losses recognized |  | $ | 874 |  |  | $ | 874 |
Amounts related to credit loss for which an OTTI charge was not previously recognized |  | — |  |  | — |
Realized losses for securities sold |  | — |  |  | — |
Ending balance of credit losses recognized |  | $ | 874 |  |  | $ | 874 |
Investments by contractual maturity | The amortized cost and estimated fair value of available-for-sale investment securities at December 31, 2018 and 2017 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, 2018 |  | December 31, 2017
|  | Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Within one year |  | $ | — |  |  | $ | — |  |  | $ | 1,893 |  |  | $ | 1,914 |
After one year through five years |  | 2,769 |  |  | 2,899 |  |  | 7,149 |  |  | 7,316 |
After five years through ten years |  | 21,831 |  |  | 22,278 |  |  | 22,043 |  |  | 22,696 |
After ten years |  | 55,286 |  |  | 56,327 |  |  | 105,870 |  |  | 111,179 |
|  | 79,886 |  |  | 81,504 |  |  | 136,955 |  |  | 143,105 |
Investment securities not due at a single maturity date: |  |  |  |  |  |  |  |  |  |
Treasuries |  | — |  |  | — |  |  | — |  |  | — |
U.S. Government agencies |  | 21,723 |  |  | 21,321 |  |  | 65,994 |  |  | 66,587 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 239,388 |  |  | 234,930 |  |  | 237,210 |  |  | 234,908 |
Private label mortgage and asset backed securities |  | 129,165 |  |  | 126,150 |  |  | 91,033 |  |  | 90,681 |
|  | $ | 470,162 |  |  | $ | 463,905 |  |  | $ | 531,192 |  |  | $ | 535,281 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -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
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