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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and estimated fair value of securities
The amortized cost and estimated fair value of securities were as follows:
 
 
 
June 30, 2017
 
 
Amortized
 Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
Agency
 
$
54,388

 
$
707

 
$
(24
)
 
$
55,071

Corporate
 
53,498

 
1,001

 
(150
)
 
54,349

Municipal bonds
 
247,242

 
5,194

 
(358
)
 
252,078

Collateralized mortgage obligation: residential
 
46,095

 
312

 
(86
)
 
46,321

Mortgage-backed securities: residential
 
296,324

 
893

 
(1,953
)
 
295,264

Total investment securities available-for-sale
 
697,547

 
8,107

 
(2,571
)
 
703,083

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
6,586

 
—

 
(47
)
 
6,539

Other
 
1,164

 
—

 
—

 
1,164

Total investment securities held-to-maturity
 
7,750

 
—

 
(47
)
 
7,703

Total investment securities
 
$
705,297

 
$
8,107

 
$
(2,618
)
 
$
710,786


 
 
December 31, 2016
 
 
Amortized
Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
Corporate
 
$
37,475

 
$
372

 
$
(205
)
 
$
37,642

Municipal bonds
 
120,155

 
338

 
(1,690
)
 
118,803

Collateralized mortgage obligation: residential
 
31,536

 
25

 
(173
)
 
31,388

Mortgage-backed securities: residential
 
196,496

 
69

 
(3,435
)
 
193,130

Total investment securities available-for-sale
 
385,662

 
804

 
(5,503
)
 
380,963

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
7,375

 
—

 
(104
)
 
7,271

Other
 
1,190

 
—

 
—

 
1,190

Total investment securities held-to-maturity
 
8,565

 
—

 
(104
)
 
8,461

Total investment securities
 
$
394,227

 
$
804

 
$
(5,607
)
 
$
389,424
Schedule of number, fair value and gross unrealized holding losses of the Company's investment securities by investment category and length of time that the securities have been in a continuous loss position
The table below shows the number, fair value and gross unrealized holding losses of the Company’s investment securities by investment category and length of time that the securities have been in a continuous loss position.
 
June 30, 2017
 
Less than 12 months
 
12 months or Longer
 
Total
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
(dollars in thousands)
Investment securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
1

 
$
1,784

 
$
(24
)
 
—

 
$
—

 
$
—

 
1

 
$
1,784

 
$
(24
)
Corporate
2

 
6,070

 
(150
)
 
—

 
—

 
—

 
2

 
6,070

 
(150
)
Municipal bonds
47

 
24,556

 
(353
)
 
1

 
418

 
(5
)
 
48

 
24,974

 
(358
)
Collateralized mortgage obligation: residential
4

 
12,517

 
(86
)
 
—

 
—

 
—

 
4

 
12,517

 
(86
)
Mortgage-backed securities: residential
55

 
147,423

 
(1,638
)
 
6

 
19,244

 
(315
)
 
61

 
166,667

 
(1,953
)
Total investment securities available-for-sale
109

 
192,350

 
(2,251
)
 
7

 
19,662

 
(320
)
 
116

 
212,012

 
(2,571
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
1

 
6,539

 
(47
)
 
—

 
—

 
—

 
1

 
6,539

 
(47
)
Total investment securities held-to-maturity
1

 
6,539

 
(47
)
 
—

 
—

 
—

 
1

 
6,539

 
(47
)
Total investment securities
110

 
$
198,889

 
$
(2,298
)
 
7

 
$
19,662

 
$
(320
)
 
117

 
$
218,551

 
$
(2,618
)

 
December 31, 2016
 
Less than 12 months
 
12 months or Longer
 
Total
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
(dollars in thousands)
Investment securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate
3

 
$
7,609

 
$
(205
)
 
—

 
$
—

 
$
—

 
3

 
$
7,609

 
$
(205
)
Municipal bonds
152

 
85,750

 
(1,690
)
 
—

 
—

 
—

 
152

 
85,750

 
(1,690
)
Collateralized mortgage obligation: residential
5

 
19,092

 
(173
)
 
—

 
—

 
—

 
5

 
19,092

 
(173
)
Mortgage-backed securities: residential
55

 
149,740

 
(2,916
)
 
4

 
16,039

 
(519
)
 
59

 
165,779

 
(3,435
)
Total investment securities available-for-sale
215

 
262,191

 
(4,984
)
 
4

 
16,039

 
(519
)
 
219

 
278,230

 
(5,503
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
1

 
7,271

 
(104
)
 
—

 
—

 
—

 
1

 
7,271

 
(104
)
Total investment securities held-to-maturity
1

 
7,271

 
(104
)
 
—

 
—

 
—

 
1

 
7,271

 
(104
)
Total investment securities
216

 
$
269,462

 
$
(5,088
)
 
4

 
$
16,039

 
$
(519
)
 
220

 
$
285,501

 
$
(5,607
)
Schedule of amortized cost and estimated fair value of investment securities available for sale by contractual maturity
The amortized cost and estimated fair value of investment securities at June 30, 2017, by contractual maturity are shown in the table below.

 
One Year
or Less
 
More than One
Year to Five Years
 
More than Five Years
to Ten Years
 
More than
Ten Years
 
Total
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
(dollars in thousands)
Investment securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
$
—

 
$
—

 
$
—

 
$
—

 
$
15,123

 
$
15,248

 
$
39,265

 
$
39,823

 
$
54,388

 
$
55,071

Corporate
—

 
—

 
—

 
—

 
53,498

 
54,349

 
—

 
—

 
53,498

 
54,349

Municipal bonds
3,104

 
3,107

 
35,725

 
36,012

 
75,712

 
77,010

 
132,701

 
135,949

 
247,242

 
252,078

Collateralized mortgage obligation: residential
—

 
—

 
—

 
—

 
3,613

 
3,661

 
42,482

 
42,660

 
46,095

 
46,321

Mortgage-backed securities: residential
2,636

 
2,630

 
6,327

 
6,348

 
49,626

 
49,839

 
237,735

 
236,447

 
296,324

 
295,264

Total investment securities available-for-sale
5,740

 
5,737

 
42,052

 
42,360

 
197,572

 
200,107

 
452,183

 
454,879

 
697,547

 
703,083

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
—

 
—

 
—

 
—

 
—

 
—

 
6,586

 
6,539

 
6,586

 
6,539

Other
—

 
—

 
—

 
—

 
—

 
—

 
1,164

 
1,164

 
1,164

 
1,164

Total investment securities held-to-maturity
—

 
—

 
—

 
—

 
—

 
—

 
7,750

 
7,703

 
7,750

 
7,703

Total investment securities
$
5,740

 
$
5,737

 
$
42,052

 
$
42,360

 
$
197,572

 
$
200,107

 
$
459,933

 
$
462,582

 
$
705,297

 
$
710,786