Investments (Tables)

9 Months Ended

Sep. 30, 2015

Investments [Abstract]

Schedule of Available-for-sale Securities Reconciliation

(dollars in thousands, unaudited):

	September 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
US Government agencies	$	29,360	$	389	$	(8	)	$	29,741
Mortgage-backed securities		374,966		3,425		(1,083	)		377,308
State and poltical subdivisions		98,951		2,574		(270	)		101,255
Other securities		659		637		-			1,296
Total investment securities	$	503,936	$	7,025	$	(1,361	)	$	509,600

	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
US Government agencies	$	26,959	$	334	$	(23	)	$	27,270
Mortgage-backed securities		378,339		4,299		(1,196	)		381,442
State and political subdivisons		98,056		3,093		(200	)		100,949
Other securities		1,210		1,012		-			2,222
Total investment securities	$	504,564	$	8,738	$	(1,419	)	$	511,883

Information Pertaining to Investment Securities Aggregated by Investment Category and Length of Time that Individual Securities in a Continuous Loss Position

Investment Portfolio - Unrealized Losses
(dollars in thousands, unaudited)	September 30, 2015
	Less than twelve months					Twelve months or more
	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
US Government agencies	$	(8	)	$	1,719	$	-		$	-
Mortgage-backed securities		(735	)		121,574		(348	)		36,331
State and political subdivisions		(162	)		18,004		(108	)		5,081
Total	$	(905	)	$	141,297	$	(456	)	$	41,412

	December 31, 2014
	Less than twelve months					Twelve months or more
	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
US Government agencies	$	(23	)	$	3,485	$	-		$	-
Mortgage-backed securities		(564	)		84,004		(632	)		51,982
State and political subdivisions		(31	)		7,738		(169	)		9,045
Total	$	(618	)	$	95,227	$	(801	)	$	61,027

Realized Gain (Loss) on Investments

Investment Portfolio - Realized Gains/(Losses)

(dollars in thousands, unaudited)

	Three months ended September 30,				Nine months ended September 30,
	2015		2014		2015			2014
Proceeds from sales, calls and maturities of securities available for sale	$	198	$	-	$	24,988		$	12,050
Gross gains on sales, calls and maturities of securities available for sale	$	108	$	-	$	630		$	289
Gross losses on sales, calls and maturities of securities available for sale		-		-		(199	)		(2	)
Net gains on sale of securities available for sale	$	108	$	-	$	431		$	287

Investments Classified by Contractual Maturity Date

Estimated Fair Value of Contractual Maturities
(dollars in thousands, unaudited)	September 30, 2015
	Amortized Cost		Fair Value
Maturing within one year	$	4,119	$	4,160
Maturing after one year through five years		244,792		247,764
Maturing after five years through ten years		58,634		59,743
Maturing after ten years		50,736		51,444
Investment securities not due at a single maturity date:
U.S Government agencies collateralized by mortgage obligations		144,996		145,193
Other securities		659		1,296
	$	503,936	$	509,600

	December 31, 2014
	Amortized Cost		Fair Value
Maturing within one year	$	686	$	694
Maturing after one year through five years		222,081		225,415
Maturing after five years through ten years		97,949		99,583
Maturing after ten years		54,531		55,705
Investment securities not due at a single maturity date:
U.S Government agencies collateralized by mortgage obligations		128,107		128,264
Other securities		1,210		2,222
	$	504,564	$	511,883

Summary of amortized cost and fair values of general obligation and revenue bonds

Revenue and General Obligation Bonds by Location
dollars in thousands, unaudited	September 30, 2015				December 31, 2014
	Amortized		Fair Market		Amortized		Fair Market
	Cost		Value		Cost		Value
General obligation bonds
State of issuance
California	$	20,023	$	21,110	$	20,078	$	21,288
Texas		14,718		14,908		14,489		14,675
Illinois		10,014		10,089		8,272		8,394
Ohio		8,254		8,317		7,456		7,555
Washington		5,920		6,067		5,966		6,126
Utah		954		976		956		984
Other states		22,618		23,036		21,253		21,832
Total General Obligation Bonds		82,501		84,503		78,470		80,854
Revenue bonds
State of issuance
Utah		4,437		4,469		3,769		3,834
Texas		3,744		3,845		3,273		3,387
California		1,003		1,031		2,174		2,233
Washington		1,370		1,389		1,167		1,197
Ohio		319		321		321		332
Illinois		292		293		294		294
Other states		5,285		5,404		8,588		8,818
Total Revenue Bonds		16,450		16,752		19,586		20,095
Total Obligations of States and Political Subdivisions	$	98,951	$	101,255	$	98,056	$	100,949

The revenue bonds in the Company's investment securities portfolios were issued by government municipalities and agencies to fund public services such as utilities (water, sewer, and power), educational facilities, and general public and economic improvements. The primary sources of revenue for these bonds are delineated in the table below, which shows the amortized cost and fair market values for the largest revenue concentrations as of the indicated dates.

Revenue Bonds by Type
dollars in thousands, unaudited	September 30, 2015				December 31, 2014
	Amortized		Fair Market		Amortized		Fair Market
	Cost		Value		Cost		Value
Revenue bonds
Revenue source:
Water	$	3,653	$	3,712	$	7,100	$	7,278
College & University		3,201		3,300		2,723		2,834
Sales Tax		2,292		2,328		2,361		2,405
Lease		2,198		2,199		1,356		1,362
Electric & Power		1,874		1,884		1,880		1,914
Other sources		3,232		3,329		4,166		4,302
Total Revenue Bonds	$	16,450	$	16,752	$	19,586	$	20,095