Investments (Tables)

12 Months Ended

Dec. 31, 2016

Investments

Summary of amortized cost and estimated fair values of investment securities

	December 31, 2016								December 31, 2015
			Gross		Gross						Gross		Gross
	Amortized		unrealized		unrealized		Fair		Amortized		unrealized		unrealized		Fair
(in thousands)	cost		gains		losses		value		cost		gains		losses		value
Available for sale securities (AFS):
Trust preferred securities	$	36,450	$	1,707	$	533	$	37,624	$	44,845	$	1,684	$	446	$	46,083
Corporate debt securities		90,593		1,505		21		92,077		102,273		1,632		169		103,736
Municipal securities		3,265		33		18		3,280		3,787		99		20		3,866
Total AFS	$	130,308	$	3,245	$	572	$	132,981	$	150,905	$	3,415	$	635	$	153,685
Held to maturity securities (HTM):
Mortgage-backed securities	$	319,978	$	186	$	2,531	$	317,633	$	312,658	$	99	$	2,059	$	310,698
Trust preferred securities		10,620		522		267		10,875		10,524		816		85		11,255
Municipal securities		35,443		10		783		34,670		23,484		151		12		23,623
Total HTM	$	366,041	$	718	$	3,581	$	363,178	$	346,666	$	1,066	$	2,156	$	345,576

Schedule Of Proceeds and Gains (Losses) From Securities Sold Or Called

	For the year ended December 31,
(in thousands)	2016		2015		2014
Proceeds	$	-	$	-	$	11,590
Gains		100		343		1,242
Losses		(6)		(25)		(88)

Investments Classified By Contractual Maturity Date

	Available for sale				Held to maturity
	Amortized		Fair		Amortized		Fair
(in thousands)	cost		value		cost		value
Due in one year or less	$	35,094	$	35,335	$	874	$	872
Due after one year through five years		44,852		45,715		23,497		23,194
Due after five years through ten years		13,912		14,306		2,575		2,564
Due after ten years		36,450		37,625		19,117		18,915
Mortgage-backed securities		-		-		319,978		317,633
	$	130,308	$	132,981	$	366,041	$	363,178

Schedule of Securities in an Unrealized Loss Position

	December 31, 2016
	Less than 12 months				12 months or greater				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in thousands)	value		loss		value		loss		value		loss
AFS
Trust preferred securities	$	14,979	$	526	$	995	$	7	$	15,974	$	533
Corporate debt securities		14,482		21		-		-		14,482		21
Municipal securities		1,214		18		-		-		1,214		18
Total AFS	$	30,675	$	565	$	995	$	7	$	31,670	$	572
HTM
Mortgage-backed securities	$	217,604	$	2,107	$	52,332	$	424	$	269,936	$	2,531
Trust preferred securities		4,175		94		700		173		4,875		267
Municipal securities		30,207		783		-		-		30,207		783
Total HTM	$	251,986	$	2,984	$	53,032	$	597	$	305,018	$	3,581

	December 31, 2015
	Less than 12 months				12 months or greater				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in thousands)	value		loss		value		loss		value		loss
AFS
Trust preferred securities	$	15,294	$	439	$	995	$	7	$	16,289	$	446
Corporate debt securities		33,591		169		-		-		33,591		169
Municipal securities		431		20		-		-		431		20
Total AFS	$	49,316	$	628	$	995	$	7	$	50,311	$	635
HTM
Mortgage-backed securities	$	281,547	$	2,059	$	-	$	-	$	281,547	$	2,059
Trust preferred securities		-		-		780		85		780		85
Municipal securities		2,604		12		-		-		2,604		12
Total HTM	$	284,151	$	2,071	$	780	$	85	$	284,931	$	2,156

Schedule Of Other Investments

	December 31,
(in thousands)	2016		2015
Bank stocks — at cost	$	9,192	$	10,289
Investment in statutory trusts — equity method		2,173		2,172
	$	11,365	$	12,461