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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2014 and 2013, by contractual maturity within each type:
 
At December 31, 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
$
13,088

 
$
82

 
$
—

 
$
13,170

 
$
11,148

 
$
122

 
$
—

 
$
11,270

After 1 year to 5 years
41,259

 
388

 
(52
)
 
41,595

 
54,855

 
992

 
(264
)
 
55,583


54,347

 
470

 
(52
)
 
54,765

 
66,003

 
1,114

 
(264
)
 
66,853

Total
$
54,347

 
$
470

 
$
(52
)
 
$
54,765

 
$
66,003

 
$
1,114

 
$
(264
)
 
$
66,853

Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasuries:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
$
4,972

 
$
—

 
$
(127
)
 
$
4,845

 
$
—

 
$
—

 
$
—

 
$
—

After 5 years to 10 years
—

 
—

 
—

 
—

 
4,966

 
—

 
(258
)
 
4,708


4,972

 
—

 
(127
)
 
4,845

 
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
122,328

 
48

 
(532
)
 
121,844

 
112,989

 
114

 
(1,226
)
 
111,877

After 5 years to 10 years
—

 
—

 
—

 
—

 
10,816

 
—

 
(560
)
 
10,256


122,328

 
48

 
(532
)
 
121,844

 
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
12,326

 
17

 
(59
)
 
12,284

 
5,305

 
14

 
(29
)
 
5,290

After 5 years to 10 years
49,554

 
1,616

 
(77
)
 
51,093

 
41,974

 
710

 
(698
)
 
41,986

Over 10 years
37,004

 
1,792

 
(1
)
 
38,795

 
57,899

 
1,227

 
(322
)
 
58,804


99,484

 
3,427

 
(137
)
 
102,774

 
106,742

 
1,964

 
(1,049
)
 
107,657

Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
5,066

 
17

 
—

 
5,083

 
—

 
—

 
—

 
—

After 5 years to 10 years
4,856

 
—

 
(32
)
 
4,824

 
10,008

 
5

 
(53
)
 
9,960

Over 10 years
3,661

 
75

 
—

 
3,736

 
25,721

 
20

 
(221
)
 
25,520


13,583

 
92

 
(32
)
 
13,643

 
35,729

 
25

 
(274
)
 
35,480

Collateralized mortgage obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
—

 
—

 
—

 
—

 
73

 
—

 
—

 
73

Over 10 years
3,810

 
—

 
(85
)
 
3,725

 
7,341

 
40

 
(253
)
 
7,128


3,810

 
—

 
(85
)
 
3,725

 
7,414

 
40

 
(253
)
 
7,201

Corporate bonds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
4,998

 
22

 
—

 
5,020

 
—

 
—

 
—

 
—

After 1 year to 5 years
29,505

 
88

 
(244
)
 
29,349

 
18,838

 
52

 
(411
)
 
18,479

After 5 years to 10 years
20,442

 
—

 
(371
)
 
20,071

 
16,474

 
4

 
(1,117
)
 
15,361


54,945

 
110

 
(615
)
 
54,440

 
35,312

 
56

 
(1,528
)
 
33,840

Money market mutual funds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
11,675

 
—

 
—

 
11,675

 
16,900

 
—

 
—

 
16,900


11,675

 
—

 
—

 
11,675

 
16,900

 
—

 
—

 
16,900

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
854

 
483

 
—

 
1,337

 
1,679

 
668

 
—

 
2,347


854

 
483

 
—

 
1,337

 
1,679

 
668

 
—

 
2,347

Total
$
311,651

 
$
4,160

 
$
(1,528
)
 
$
314,283

 
$
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 years ended December 31, 2014, 2013 and 2012:
 
For the Years Ended December 31,
(Dollars in thousands)
2014
 
2013
 
2012
Securities available-for-sale:
 
 
 
 
 
Proceeds from sales
$
32,967

 
$
76,361

 
$
57,186

Gross realized gains on sales
635

 
3,396

 
1,201

Gross realized losses on sales
—

 
7

 
896

Tax expense related to net realized gains on sales
222

 
1,186

 
107
Schedule of Securities in Unrealized Loss Position
The following table shows the fair value of securities that were in an unrealized loss position at December 31, 2014 and 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 December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
15,036

 
$
(27
)
 
$
4,987

 
$
(25
)
 
$
20,023

 
$
(52
)
Total
$
15,036

 
$
(27
)
 
$
4,987

 
$
(25
)
 
$
20,023

 
$
(52
)
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
U.S. treasuries
$
—

 
$
—

 
$
4,845

 
$
(127
)
 
$
4,845

 
$
(127
)
U.S. government corporations and agencies
39,607

 
(80
)
 
62,140

 
(452
)
 
101,747

 
(532
)
State and political subdivisions
10,246

 
(31
)
 
9,303

 
(106
)
 
19,549

 
(137
)
Residential mortgage-backed securities
4,824

 
(32
)
 
—

 
—

 
4,824

 
(32
)
Collateralized mortgage obligations
—

 
—

 
3,725

 
(85
)
 
3,725

 
(85
)
Corporate bonds
21,949

 
(328
)
 
15,805

 
(287
)
 
37,754

 
(615
)
Total
$
76,626

 
$
(471
)
 
$
95,818

 
$
(1,057
)
 
$
172,444

 
$
(1,528
)
 
 
 
 
 
 
 
 
 
 
 
 
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
)