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Investments (Tables) | 9 Months Ended
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Sep. 30, 2016
Investments [Abstract] |
Unrealized Gain (Loss) on Investments | ﻿ The following table shows a comparison of amortized cost and fair values of investment securities at September 30, 2016 and December 31, 2015: ﻿
﻿ |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |
﻿(in thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | OTTI in AOCI
﻿September 30, 2016 |  |  |  |  |  |  |  |  |  |
﻿Available for Sale: |  |  |  |  |  |  |  |  |  |
﻿ U.S. government agencies | $ | 25,000 | $ | 4 |  | 3 | $ | 25,001 | $ | 0
﻿ Commercial mortgage-backed agencies |  | 56,191 |  | 850 |  | 31 |  | 57,010 |  | 0
﻿ Collateralized mortgage obligations |  | 21,014 |  | 57 |  | 63 |  | 21,008 |  | 0
﻿ Obligations of states and political subdivisions |  | 24,403 |  | 737 |  | 49 |  | 25,091 |  | 0
﻿ Collateralized debt obligations |  | 24,721 |  | 0 |  | 4,794 |  | 19,927 |  | (427)
﻿Total available for sale | $ | 151,329 | $ | 1,648 | $ | 4,940 | $ | 148,037 | $ | (427)
﻿ |  |  |  |  |  |  |  |  |  |
﻿Held to Maturity: |  |  |  |  |  |  |  |  |  |
﻿ U.S. government agencies | $ | 15,704 | $ | 1,135 | $ | 0 | $ | 16,839 | $ | 0
﻿ Residential mortgage-backed agencies |  | 52,784 |  | 1,230 |  | 19 |  | 53,995 |  | 0
﻿ Commercial mortgage-backed agencies |  | 17,657 |  | 1,073 |  | 0 |  | 18,730 |  | 0
﻿ Collateralized mortgage obligations |  | 5,255 |  | 25 |  | 0 |  | 5,280 |  | 0
﻿ Obligations of states and political subdivisions |  | 6,987 |  | 1,455 |  | 0 |  | 8,442 |  | 0
﻿Total held to maturity | $ | 98,387 | $ | 4,918 | $ | 19 | $ | 103,286 | $ | 0
﻿ |  |  |  |  |  |  |  |  |  |
﻿December 31, 2015 |  |  |  |  |  |  |  |  |  |
﻿Available for Sale: |  |  |  |  |  |  |  |  |  |
﻿ U.S. government agencies |  | 34,079 |  | 14 |  | 129 |  | 33,964 |  | 0
﻿ Residential mortgage-backed agencies |  | 14,285 |  | 105 |  | 220 |  | 14,170 |  | 0
﻿ Commercial mortgage-backed agencies |  | 43,780 |  | 52 |  | 196 |  | 43,636 |  | 0
﻿ Collateralized mortgage obligations |  | 9,690 |  | 43 |  | 123 |  | 9,610 |  | 0
﻿ Obligations of states and political subdivisions |  | 45,949 |  | 915 |  | 223 |  | 46,641 |  | 0
﻿ Collateralized debt obligations |  | 25,766 |  | 0 |  | 3,555 |  | 22,211 |  | (799)
﻿Total available for sale | $ | 173,549 | $ | 1,129 | $ | 4,446 | $ | 170,232 | $ | (799)
﻿Held to Maturity: |  |  |  |  |  |  |  |  |  |
﻿ U.S. government agencies | $ | 24,704 | $ | 634 | $ | 0 | $ | 25,338 | $ | 0
﻿ Residential mortgage-backed agencies |  | 53,734 |  | 276 |  | 98 |  | 53,912 |  | 0
﻿ Commercial mortgage-backed agencies |  | 18,078 |  | 171 |  | 17 |  | 18,232 |  | 0
﻿ Collateralized mortgage obligations |  | 6,419 |  | 0 |  | 122 |  | 6,297 |  | 0
﻿ Obligations of states and political subdivisions |  | 2,625 |  | 338 |  | 0 |  | 2,963 |  | 0
﻿Total held to maturity | $ | 105,560 | $ | 1,419 | $ | 237 | $ | 106,742 | $ | 0
﻿
Proceeds from Sales and Realized Gain and Losses | ﻿ Proceeds from sales of available for sale securities and the realized gains and losses are as follows:
﻿ |  |  |  |  |  |  |  |
﻿ | Nine months ended | Three months ended
﻿ | September 30, | September 30,
﻿(in thousands) | 2016 | 2015 | 2016 | 2015
﻿Proceeds | $ | 43,782 | $ | 52,672 | $ | 18,191 | $ | 28,005
﻿Realized gains |  | 688 |  | 373 |  | 273 |  | 217
﻿Realized losses |  | 229 |  | 311 |  | 41 |  | 138
﻿
Gross Unrealized Losses and Fair Values of Securities | The following table shows the Corporation’s investment securities with gross unrealized losses and fair values at September 30, 2016 and December 31, 2015, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: ﻿
﻿ |  |  |  |  |  |  |  |
﻿ | Less than 12 months | 12 months or more
﻿(in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
﻿September 30, 2016 |  |  |  |  |  |  |  |
﻿Available for Sale: |  |  |  |  |  |  |  |
﻿ U.S. government agencies | $ | 9,997 | $ | 3 | $ | 0 | $ | 0
﻿ Commercial mortgage-backed agencies |  | 12,683 |  | 31 |  | 0 |  | 0
﻿ Collateralized mortgage obligations |  | 15,104 |  | 63 |  | 0 |  | 0
﻿ Obligations of states and political subdivisions |  | 267 |  | 1 |  | 3,231 |  | 48
﻿ Collateralized debt obligations |  | 12,361 |  | 1,140 |  | 7,566 |  | 3,654
﻿Total available for sale | $ | 50,412 | $ | 1,238 | $ | 10,797 | $ | 3,702
﻿ |  |  |  |  |  |  |  |
﻿Held to Maturity: |  |  |  |  |  |  |  |
﻿ Residential mortgage-backed agencies | $ | 3,858 | $ | 18 | $ | 448 | $ | 1
﻿Total held to maturity | $ | 3,858 | $ | 18 | $ | 448 | $ | 1
﻿ ﻿
﻿ |  |  |  |  |  |  |  |
﻿December 31, 2015 |  |  |  |  |  |  |  |
﻿Available for Sale: |  |  |  |  |  |  |  |
﻿ U.S. government agencies | $ | 23,929 | $ | 129 | $ | 0 | $ | 0
﻿ Residential mortgage-backed agencies |  | 0 |  | 0 |  | 8,051 |  | 220
﻿ Commercial mortgage-backed agencies |  | 25,858 |  | 196 |  | 0 |  | 0
﻿ Collateralized mortgage obligations |  | 5,299 |  | 123 |  | 0 |  | 0
﻿ Obligations of states and political subdivisions |  | 11,537 |  | 104 |  | 4,048 |  | 119
﻿ Collateralized debt obligations |  | 0 |  | 0 |  | 7,688 |  | 3,555
﻿Total available for sale | $ | 66,623 | $ | 552 | $ | 19,787 | $ | 3,894
﻿Held to Maturity: |  |  |  |  |  |  |  |
﻿ Residential mortgage-backed agencies | $ | 11,085 | $ | 98 | $ | 0 | $ | 0
﻿ Commercial mortgage-backed agencies |  | 9,518 |  | 17 |  | 0 |  | 0
﻿ Collateralized mortgage obligations |  | 6,297 |  | 122 |  | 0 |  | 0
﻿Total held to maturity | $ | 26,900 | $ | 237 | $ | 0 | $ | 0
﻿
Non-Cash OTTI Credit Losses Recognized in Earnings | ﻿ The following tables present a cumulative roll-forward of the amount of non-cash OTTI charges related to credit losses which have been recognized in earnings for the trust preferred securities in the CDO portfolio held and not intended to be sold for the nine- and three-month periods ended September 30, 2016 and 2015:
﻿ |  |  |  |
﻿ |  |  |  |
﻿ |  |  |  |
﻿ | Nine months ended September 30,
﻿(in thousands) | 2016 | 2015
﻿Balance of credit-related OTTI at January 1 | $ | 3,133 | $ | 12,583
﻿Decreases for previously recognized credit-related OTTI due to transfer |  | (3,045) |  | 0
﻿Additions for decreases in cash flows expected to be collected |  | 33 |  | 0
﻿Reduction for increases in cash flows expected to be collected |  | (7) |  | (479)
﻿Balance of credit-related OTTI at September 30 | $ | 114 | $ | 12,104
﻿ ﻿
﻿ |  |  |  |
﻿ | Three months ended September 30,
﻿(in thousands) | 2016 | 2015
﻿Balance of credit-related OTTI at July 1 | $ | 116 | $ | 12,243
﻿Decreases for previously recognized credit-related OTTI due to transfer |  | 0 |  | 0
﻿Additions for decreases in cash flows expected to be collected |  | 0 |  | 0
﻿Reduction for increases in cash flows expected to be collected |  | (2) |  | (139)
﻿Balance of credit-related OTTI at September 30 | $ | 114 | $ | 12,104
Amortized Cost and Fair Values Classified by Contractual Maturity Date |
﻿ |  |  |  |
﻿ | September 30, 2016
﻿(in thousands) | Amortized Cost | Fair Value
﻿Contractual Maturity |  |  |  |
﻿Available for sale: |  |  |  |
﻿Due after one year through five years | $ | 10,671 | $ | 10,681
﻿Due after five years through ten years |  | 19,939 |  | 20,102
﻿Due after ten years |  | 43,514 |  | 39,236
﻿ |  | 74,124 |  | 70,019
﻿Commercial mortgage-backed agencies |  | 56,191 |  | 57,010
﻿Collateralized mortgage obligations |  | 21,014 |  | 21,008
﻿ Total available for sale | $ | 151,329 | $ | 148,037
﻿Held to Maturity: |  |  |  |
﻿Due after five years through ten years | $ | 15,704 | $ | 16,839
﻿Due after ten years |  | 6,987 |  | 8,442
﻿ |  | 22,691 |  | 25,281
﻿Residential mortgage-backed agencies | $ | 52,784 | $ | 53,995
﻿Commercial mortgage-backed agencies |  | 17,657 |  | 18,730
﻿Collateralized mortgage obligations |  | 5,255 |  | 5,280
﻿Total held to maturity | $ | 98,387 | $ | 103,286
﻿

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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://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 + Details
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