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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and estimated fair value of held to maturity securities and available for sale securities by contractual maturity
The following table shows the amortized cost and the estimated fair value of the held-to-maturity securities and available-for-sale securities at September 30, 2014 and December 31, 2013, by contractual maturity within each type:
 
At September 30, 2014
 
At December 31, 2013
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
$
15,150

 
$
178

 
$
—

 
$
15,328

 
$
11,148

 
$
122

 
$
—

 
$
11,270

After 1 year to 5 years
41,326

 
507

 
(60
)
 
41,773

 
54,855

 
992

 
(264
)
 
55,583


56,476

 
685

 
(60
)
 
57,101

 
66,003

 
1,114

 
(264
)
 
66,853

Total
$
56,476

 
$
685

 
$
(60
)
 
$
57,101

 
$
66,003

 
$
1,114

 
$
(264
)
 
$
66,853

Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasuries:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
$
4,971

 
$
—

 
$
(181
)
 
$
4,790

 
$
—

 
$
—

 
$
—

 
$
—

After 5 years to 10 years
—

 
—

 
—

 
—

 
4,966

 
—

 
(258
)
 
4,708


4,971

 
—

 
(181
)
 
4,790

 
4,966

 
—

 
(258
)
 
4,708

U.S. government corporations and agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
—

 
—

 
—

 
—

 
5,999

 
16

 
—

 
6,015

After 1 year to 5 years
123,207

 
48

 
(852
)
 
122,403

 
112,989

 
114

 
(1,226
)
 
111,877

After 5 years to 10 years
—

 
—

 
—

 
—

 
10,816

 
—

 
(560
)
 
10,256


123,207

 
48

 
(852
)
 
122,403

 
129,804

 
130

 
(1,786
)
 
128,148

State and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
600

 
2

 
—

 
602

 
1,564

 
13

 
—

 
1,577

After 1 year to 5 years
10,443

 
48

 
(18
)
 
10,473

 
5,305

 
14

 
(29
)
 
5,290

After 5 years to 10 years
49,641

 
1,658

 
(124
)
 
51,175

 
41,974

 
710

 
(698
)
 
41,986

Over 10 years
42,246

 
1,921

 
(10
)
 
44,157

 
57,899

 
1,227

 
(322
)
 
58,804


102,930

 
3,629

 
(152
)
 
106,407

 
106,742

 
1,964

 
(1,049
)
 
107,657

Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
5,096

 
—

 
(32
)
 
5,064

 
—

 
—

 
—

 
—

After 5 years to 10 years
4,860

 
—

 
(85
)
 
4,775

 
10,008

 
5

 
(53
)
 
9,960

Over 10 years
3,681

 
45

 
(12
)
 
3,714

 
25,721

 
20

 
(221
)
 
25,520


13,637

 
45

 
(129
)
 
13,553

 
35,729

 
25

 
(274
)
 
35,480

Collateralized mortgage obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
—

 
—

 
—

 
—

 
73

 
—

 
—

 
73

Over 10 years
6,580

 
18

 
(123
)
 
6,475

 
7,341

 
40

 
(253
)
 
7,128


6,580

 
18

 
(123
)
 
6,475

 
7,414

 
40

 
(253
)
 
7,201

Corporate bonds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
4,998

 
34

 
—

 
5,032

 
—

 
—

 
—

 
—

After 1 year to 5 years
17,590

 
30

 
(235
)
 
17,385

 
18,838

 
52

 
(411
)
 
18,479

After 5 years to 10 years
20,943

 
4

 
(389
)
 
20,558

 
16,474

 
4

 
(1,117
)
 
15,361


43,531

 
68

 
(624
)
 
42,975

 
35,312

 
56

 
(1,528
)
 
33,840

Money market mutual funds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
6,442

 
—

 
—

 
6,442

 
16,900

 
—

 
—

 
16,900


6,442

 
—

 
—

 
6,442

 
16,900

 
—

 
—

 
16,900

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
854

 
403

 
—

 
1,257

 
1,679

 
668

 
—

 
2,347


854

 
403

 
—

 
1,257

 
1,679

 
668

 
—

 
2,347

Total
$
302,152

 
$
4,211

 
$
(2,061
)
 
$
304,302

 
$
338,546

 
$
2,883

 
$
(5,148
)
 
$
336,281
Information Related to Sales of Securities Available-for-Sale
The following table presents information related to sales of securities available-for-sale during the nine months ended September 30, 2014 and 2013:
 
Nine Months Ended September 30,
(Dollars in thousands)
2014
 
2013
Securities available-for-sale:
 
 
 
Proceeds from sales
$
30,286

 
$
58,148

Gross realized gains on sales
557

 
2,957

Gross realized losses on sales
—

 
7

Tax expense related to net realized gains on sales
195

 
1,032
Amount of Securities in Unrealized Loss Position
The following table shows the fair value of securities that were in an unrealized loss position at September 30, 2014 and December 31, 2013 by the length of time those securities were in a continuous loss position:
 
Less than
Twelve Months
 
Twelve Months
or Longer
 
Total
(Dollars in thousands)
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
At September 30, 2014
 
 
 
 
 
 
 
 
 
 
 
Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
13,189

 
$
(39
)
 
$
4,993

 
$
(21
)
 
$
18,182

 
$
(60
)
Total
$
13,189

 
$
(39
)
 
$
4,993

 
$
(21
)
 
$
18,182

 
$
(60
)
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
U.S. treasuries
$
—

 
$
—

 
$
4,790

 
$
(181
)
 
$
4,790

 
$
(181
)
U.S. government corporations and agencies
19,948

 
(52
)
 
77,353

 
(800
)
 
97,301

 
(852
)
State and political subdivisions
1,883

 
(4
)
 
11,146

 
(148
)
 
13,029

 
(152
)
Residential mortgage-backed securities
12,391

 
(129
)
 
—

 
—

 
12,391

 
(129
)
Collateralized mortgage obligations
—

 
—

 
3,807

 
(123
)
 
3,807

 
(123
)
Corporate bonds
17,407

 
(233
)
 
15,775

 
(391
)
 
33,182

 
(624
)
Total
$
51,629

 
$
(418
)
 
$
112,871

 
$
(1,643
)
 
$
164,500

 
$
(2,061
)
At December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
19,942

 
$
(264
)
 
$
—

 
$
—

 
$
19,942

 
$
(264
)
Total
$
19,942

 
$
(264
)
 
$
—

 
$
—

 
$
19,942

 
$
(264
)
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
U.S. treasuries
$
4,708

 
$
(258
)
 
$
—

 
$
—

 
$
4,708

 
$
(258
)
U.S. government corporations and agencies
101,813

 
(1,786
)
 
—

 
—

 
101,813

 
(1,786
)
State and political subdivisions
30,233

 
(1,049
)
 
—

 
—

 
30,233

 
(1,049
)
Residential mortgage-backed securities
29,444

 
(274
)
 
—

 
—

 
29,444

 
(274
)
Collateralized mortgage obligations
4,091

 
(253
)
 
—

 
—

 
4,091

 
(253
)
Corporate bonds
26,557

 
(1,528
)
 
—

 
—

 
26,557

 
(1,528
)
Total
$
196,846

 
$
(5,148
)
 
$
—

 
$
—

 
$
196,846

 
$
(5,148
)