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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2018
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:
 
 
March 31, 2018
 
 
Amortized
 Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
Agency
 
$
44,208

 
$
60

 
$
(104
)
 
$
44,164

Corporate
 
103,671

 
1,084

 
(349
)
 
104,406

Municipal bonds
 
225,201

 
1,522

 
(3,066
)
 
223,657

Collateralized mortgage obligation: residential
 
32,223

 
97

 
(611
)
 
31,709

Mortgage-backed securities: residential
 
470,502

 
111

 
(11,306
)
 
459,307

Total investment securities available-for-sale
 
875,805

 
2,874

 
(15,436
)
 
863,243

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
23,434

 
—

 
(644
)
 
22,790

Other
 
1,125

 
—

 
—

 
1,125

Total investment securities held-to-maturity
 
24,559

 
—

 
(644
)
 
23,915

Total investment securities
 
$
900,364

 
$
2,874

 
$
(16,080
)
 
$
887,158


 
 
December 31, 2017
 
 
Amortized
Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
Agency
 
$
47,051

 
$
236

 
$
(78
)
 
$
47,209

Corporate
 
78,155

 
1,585

 
(194
)
 
79,546

Municipal bonds
 
228,929

 
3,942

 
(743
)
 
232,128

Collateralized mortgage obligation: residential
 
33,984

 
132

 
(335
)
 
33,781

Mortgage-backed securities: residential
 
398,664

 
266

 
(4,165
)
 
394,765

Total investment securities available-for-sale
 
786,783

 
6,161

 
(5,515
)
 
787,429

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
17,153

 
—

 
(209
)
 
16,944

Other
 
1,138

 
—

 
—

 
1,138

Total investment securities held-to-maturity
 
18,291

 
—

 
(209
)
 
18,082

Total investment securities
 
$
805,074

 
$
6,161

 
$
(5,724
)
 
$
805,511
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.
 
March 31, 2018
 
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
19

 
$
42,806

 
$
(82
)
 
1

 
$
1,358

 
$
(22
)
 
20

 
$
44,164

 
$
(104
)
Corporate
22

 
98,346

 
(210
)
 
2

 
6,060

 
(139
)
 
24

 
104,406

 
(349
)
Municipal bonds
289

 
207,591

 
(1,960
)
 
32

 
16,066

 
(1,106
)
 
321

 
223,657

 
(3,066
)
Collateralized mortgage obligation: residential
11

 
23,452

 
(351
)
 
3

 
8,257

 
(260
)
 
14

 
31,709

 
(611
)
Mortgage-backed securities: residential
105

 
355,559

 
(6,875
)
 
42

 
103,748

 
(4,431
)
 
147

 
459,307

 
(11,306
)
Total investment securities available-for-sale
446

 
727,754

 
(9,478
)
 
80

 
135,489

 
(5,958
)
 
526

 
863,243

 
(15,436
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
4

 
16,773

 
(421
)
 
1

 
6,017

 
(223
)
 
5

 
22,790

 
(644
)
Total investment securities held-to-maturity
4

 
16,773

 
(421
)
 
1

 
6,017

 
(223
)
 
5

 
22,790

 
(644
)
Total investment securities
450

 
$
744,527

 
$
(9,899
)
 
81

 
$
141,506

 
$
(6,181
)
 
531

 
$
886,033

 
$
(16,080
)

 
December 31, 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
6

 
$
13,754

 
$
(78
)
 
—

 
$
—

 
$
—

 
6

 
$
13,754

 
$
(78
)
Corporate
4

 
10,079

 
(64
)
 
2

 
6,076

 
(130
)
 
6

 
16,155

 
(194
)
Municipal bonds
103

 
61,313

 
(268
)
 
30

 
15,658

 
(475
)
 
133

 
76,971

 
(743
)
Collateralized mortgage obligation: residential
5

 
13,971

 
(149
)
 
3

 
8,943

 
(186
)
 
8

 
22,914

 
(335
)
Mortgage-backed securities: residential
66

 
220,951

 
(1,600
)
 
41

 
110,062

 
(2,565
)
 
107

 
331,013

 
(4,165
)
Total investment securities available-for-sale
184

 
320,068

 
(2,159
)
 
76

 
140,739

 
(3,356
)
 
260

 
460,807

 
(5,515
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
2

 
10,745

 
(133
)
 
1

 
6,198

 
(76
)
 
3

 
16,943

 
(209
)
Total investment securities held-to-maturity
2

 
10,745

 
(133
)
 
1

 
6,198

 
(76
)
 
3

 
16,943

 
(209
)
Total investment securities
186

 
$
330,813

 
$
(2,292
)
 
77

 
$
146,937

 
$
(3,432
)
 
263

 
$
477,750

 
$
(5,724
)
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 March 31, 2018, 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
$
—

 
$
—

 
$
—

 
$
—

 
$
19,761

 
$
19,726

 
$
24,447

 
$
24,438

 
$
44,208

 
$
44,164

Corporate
—

 
—

 
—

 
—

 
91,671

 
92,330

 
12,000

 
12,076

 
103,671

 
104,406

Municipal bonds
4,463

 
4,463

 
31,257

 
31,194

 
73,327

 
72,004

 
116,154

 
115,996

 
225,201

 
223,657

Collateralized mortgage obligation: residential
—

 
—

 
—

 
—

 
1,007

 
1,009

 
31,216

 
30,700

 
32,223

 
31,709

Mortgage-backed securities: residential
2,572

 
2,565

 
2,346

 
2,283

 
93,312

 
91,605

 
372,272

 
362,854

 
470,502

 
459,307

Total investment securities available-for-sale
7,035

 
7,028

 
33,603

 
33,477

 
279,078

 
276,674

 
556,089

 
546,064

 
875,805

 
863,243

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

 
—

 
—

 
—

 
—

 
—

 
23,434

 
22,790

 
23,434

 
22,790

Other
—

 
—

 
—

 
—

 
—

 
—

 
1,125

 
1,125

 
1,125

 
1,125

Total investment securities held-to-maturity
—

 
—

 
—

 
—

 
—

 
—

 
24,559

 
23,915

 
24,559

 
23,915

Total investment securities
$
7,035

 
$
7,028

 
$
33,603

 
$
33,477

 
$
279,078

 
$
276,674

 
$
580,648

 
$
569,979

 
$
900,364

 
$
887,158