Investments (Tables)

9 Months Ended

Sep. 30, 2017

Investments

Summary of amortized cost and estimated fair values of investment securities

	At September 30, 2017								At December 31, 2016
			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	$	35,607	$	3,464	$	380	$	38,691	$	36,450	$	1,707	$	533	$	37,624
Corporate debt securities		133,460		2,142		12		135,590		90,593		1,505		21		92,077
Municipal securities		3,254		60		4		3,310		3,265		33		18		3,280
Total AFS	$	172,321	$	5,666	$	396	$	177,591	$	130,308	$	3,245	$	572	$	132,981
Held to maturity securities (HTM):
Mortgage-backed securities	$	315,135	$	466	$	1,474	$	314,127	$	319,978	$	186	$	2,531	$	317,633
Trust preferred securities		10,695		495		326		10,864		10,620		522		267		10,875
Municipal securities		35,105		288		4		35,389		35,443		10		783		34,670
Total HTM	$	360,935	$	1,249	$	1,804	$	360,380	$	366,041	$	718	$	3,581	$	363,178

Investments Classified By Contractual Maturity Date

	Availablefor sale				Heldtomaturity
	Amortized		Fair		Amortized		Fair
(in thousands)	cost		value		cost		value
Due in one year or less	$	13,456	$	13,613	$	867	$	867
Due after one year through five years		105,969		107,783		24,732		24,978
Due after five years through ten years		23,056		23,813		1,023		1,049
Due after ten years		29,840		32,382		19,178		19,359
Mortgage-backed securities		-		-		315,135		314,127
	$	172,321	$	177,591	$	360,935	$	360,380

Schedule of Securities in an Unrealized Loss Position

	September 30, 2017
	Lessthan12 months				12months or greater				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in thousands)	value		loss		value		loss		value		loss
AFS
Trust preferred securities	$	716	$	25	$	6,829	$	355	$	7,545	$	380
Corporate debt securities		4,612		12		-		-		4,612		12
Municipal securities		839		4		-		-		839		4
Total AFS	$	6,167	$	41	$	6,829	$	355	$	12,996	$	396
HTM
Mortgage-backed securities	$	113,570	$	698	$	69,354	$	776	$	182,924	$	1,474
Trust preferred securities		-		-		4,845		326		4,845		326
Municipal securities		3,547		4		-		-		3,547		4
Total HTM	$	117,117	$	702	$	74,199	$	1,102	$	191,316	$	1,804

	December 31, 2016
	Lessthan 12 months				12months 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

Schedule Of Other Investments

	September 30,		December 31,
(in thousands)	2017		2016
Bank stocks — at cost	$	9,048	$	9,192
Investment in statutory trusts — equity method		2,174		2,173
Total	$	11,222	$	11,365