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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities and Held-to-maturity Securities Reconciliation
Our investment securities portfolio consists of obligations of state and political subdivisions, corporate bonds, U.S. government agency securities, including mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMOs”) issued or guaranteed by Federal National Mortgage Association ("FNMA"), Federal Home Loan Mortgage Corporation ("FHLMC"), or Government National Mortgage Association ("GNMA"), debentures issued by government-sponsored agencies such as FNMA, Federal Farm Credit Bureau, FHLB and FHLMC, as well as privately issued CMOs, as reflected in the table below:
 
December 31, 2015
 
December 31, 2014
 
Amortized

Fair

Gross Unrealized
 
Amortized

Fair

Gross Unrealized
(in thousands)
Cost

Value

Gains

(Losses)

 
Cost

Value

Gains

(Losses)

Held-to-maturity:
 
 
 
 
 
 
 
 
 
  Obligations of state and
  political subdivisions
$
42,919

$
44,146

$
1,246

$
(19
)
 
$
63,425

$
65,121

$
1,736

$
(40
)
  Corporate bonds
15,072

15,098

42

(16
)
 
40,257

40,448

216

(25
)
MBS pass-through securities issued by FHLMC and FNMA
11,646

11,810

171

(7
)
 
12,755

13,074

319

—

Total held-to-maturity
69,637

71,054

1,459

(42
)
 
116,437

118,643

2,271

(65
)
 
 
 
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
 
 
Securities of U.S. government agencies:
 
 
 
 
 
 
 
 
 
MBS pass-through securities issued by FHLMC and FNMA
138,222

138,462

694

(454
)
 
92,963

94,214

1,262

(11
)
CMOs issued by FNMA
18,266

18,219

97

(144
)
 
14,771

14,790

77

(58
)
CMOs issued by FHLMC
22,889

22,932

82

(39
)

31,238

31,260

109

(87
)
CMOs issued by GNMA
10,326

10,480

169

(15
)

17,573

17,855

298

(16
)
Debentures of government- sponsored agencies
161,690

160,892

28

(826
)
 
14,694

14,557

95

(232
)
Privately issued CMOs
3,960

4,150

190

—

 
7,137

7,294

172

(15
)
Obligations of state and
political subdivisions
57,110

57,673

580

(17
)
 
15,733

15,880

155

(8
)
Corporate bonds
4,947

4,979

43

(11
)
 
4,936

4,998

66

(4
)
Total available-for-sale
417,410

417,787

1,883

(1,506
)
 
199,045

200,848

2,234

(431
)
 
 
 
 
 
 
 
 
 
 
Total investment securities
$
487,047

$
488,841

$
3,342

$
(1,548
)
 
$
315,482

$
319,491

$
4,505

$
(496
)
Investments Classified by Contractual Maturity Date
The amortized cost and fair value of investment debt securities by contractual maturity at December 31, 2015 and 2014 are shown below. 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
December 31, 2014
 
Held-to-Maturity
 
Available-for-Sale
Held-to-Maturity
 
Available-for-Sale
(in thousands)
Amortized Cost

 
Fair Value

 
Amortized Cost

 
Fair Value

Amortized Cost

 
Fair Value

 
Amortized Cost

 
Fair Value

Within one year
$
18,853

 
$
18,920

 
$
12,135

 
$
12,176

$
39,778

 
$
39,913

 
$
2,378

 
$
2,388

After one but within five years
31,677

 
32,360

 
188,007

 
187,326

50,983

 
51,953

 
43,866

 
43,919

After five years through ten years
8,580

 
8,969

 
64,899

 
64,999

11,679

 
12,426

 
9,644

 
9,749

After ten years
10,527

 
10,805

 
152,369

 
153,286

13,997

 
14,351

 
143,157

 
144,792

Total
$
69,637

 
$
71,054

 
$
417,410

 
$
417,787

$
116,437

 
$
118,643

 
$
199,045

 
$
200,848
Schedule of Unrealized Loss on Investments
Fifty-four and twenty-eight investment securities were in unrealized loss positions at December 31, 2015 and 2014, respectively. Those securities are summarized and classified according to the duration of the loss period in the tables below:

December 31, 2015
 
< 12 continuous months
 
 
≥ 12 continuous months
 
 
Total securities
 in a loss position
 
(in thousands)
 
Fair value

 
Unrealized loss

 
Fair value

 
Unrealized loss

 
Fair value

 
Unrealized loss

Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
MBS pass-through securities issued by FHLMC and FNMA
 
$
2,332

 
$
(7
)
 
$
—

 
$
—

 
$
2,332

 
$
(7
)
Obligations of state & political subdivisions
 
$
8,297

 
$
(19
)
 
$
—

 
$
—

 
$
8,297

 
$
(19
)
Corporate bonds
 
3,523

 
(15
)
 
1,999

 
(1
)
 
5,522

 
(16
)
Total held-to-maturity
 
14,152

 
(41
)
 
1,999

 
(1
)
 
16,151

 
(42
)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
MBS pass-through securities issued by FHLMC and FNMA
 
68,809

 
(454
)
 
—

 
—

 
68,809

 
(454
)
CMOs issued by FNMA
 
9,277

 
(80
)
 
3,158

 
(64
)
 
12,435

 
(144
)
CMOs issued by FHLMC
 
—

 
—

 
1,989

 
(39
)
 
1,989

 
(39
)
CMOs issued by GNMA
 
164

 
—

 
2,374

 
(15
)
 
2,538

 
(15
)
Debentures of government- sponsored agencies
 
136,064

 
(713
)
 
9,887

 
(113
)
 
145,951

 
(826
)
Obligations of state & political subdivisions
 
4,557

 
(15
)
 
579

 
(2
)
 
5,136

 
(17
)
Corporate bonds
 
2,986

 
(11
)
 
—

 
—

 
2,986

 
(11
)
Total available-for-sale
 
221,857

 
(1,273
)
 
17,987

 
(233
)
 
239,844

 
(1,506
)
Total temporarily impaired securities
 
$
236,009

 
$
(1,314
)
 
$
19,986

 
$
(234
)
 
$
255,995

 
$
(1,548
)
 
December 31, 2014
 
< 12 continuous months
 
 
> 12 continuous months
 
 
Total securities
 in a loss position
(in thousands)
 
Fair value

 
Unrealized loss

 
Fair value

 
Unrealized loss

 
Fair value

 
Unrealized loss

Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of state & political subdivisions
 
$
5,830

 
$
(27
)
 
$
359

 
$
(13
)
 
$
6,189

 
$
(40
)
Corporate bonds
 
3,009

 
(1
)
 
3,533

 
(24
)
 
6,542

 
(25
)
Total held-to-maturity
 
8,839

 
(28
)
 
3,892

 
(37
)
 
12,731

 
(65
)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
MBS pass-through securities issued by FHLMC and FNMA
 
1,960

 
(11
)
 
—

 
—

 
1,960

 
(11
)
CMOs issued by FNMA
 
—

 
—

 
4,115

 
(58
)
 
4,115

 
(58
)
CMOs issued by FHLMC
 
17,157

 
(44
)
 
2,291

 
(43
)
 
19,448

 
(87
)
CMOs issued by GNMA
 
3,262

 
(16
)
 
—

 
—

 
3,262

 
(16
)
Debentures of government- sponsored agencies
 
494

 
(1
)
 
9,769

 
(231
)
 
10,263

 
(232
)
Privately issued CMOs
 
817

 
(15
)
 
—

 
—

 
817

 
(15
)
Obligations of state & political subdivisions
 
2,695

 
(3
)
 
1,112

 
(5
)
 
3,807

 
(8
)
Corporate bonds
 
1,002

 
(1
)
 
990

 
(3
)
 
1,992

 
(4
)
Total available-for-sale
 
27,387

 
(91
)
 
18,277

 
(340
)
 
45,664

 
(431
)
Total temporarily impaired securities
 
$
36,226

 
$
(119
)
 
$
22,169

 
$
(377
)
 
$
58,395

 
$
(496
)
Gain (Loss) on Investments [Table Text Block]
Sales of investment securities and gross gains and losses are shown in the following table. The sales of the held-to-maturity securities were due to evidence of significant deterioration of the issuers' creditworthiness since purchase.
(in thousands)
2015
 
2014
 
2013
Available-for-sale:
 
 
 
 
 
  Sales proceeds
$
2,099

 
$
2,436

 
$
7,973

  Gross gains
$
7

 
$
4

 
$
86

  Gross losses, including OTTI
$
(1
)
 
$
(28
)
 
$
(104
)
Held-to-maturity:
 
 
 
 
 
  Sales proceeds
$
1,015

 
$
2,146

 
$
6,442

  Gross gains
$
73

 
$
104

 
$
67

  Gross losses
$
—

 
$
—

 
$
(50
)