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Securities (Tables)
 3 Months Ended
Mar. 31, 2017
SECURITIES  
Schedule of amortized cost and fair value of securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2017

 

 

Amortized Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

Obligations of the U.S. Treasury and other U.S. government agencies or sponsored enterprises

    

$

262,649

    

$

17

    

$

(589)

    

$

262,077

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

 

239,892

 

 

471

 

 

(1,823)

 

 

238,540

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 

40,519

 

 

 -

 

 

(477)

 

 

40,042

Corporate debt securities

 

 

3,787

 

 

 7

 

 

 -

 

 

3,794

Obligations of municipal subdivisions

 

 

236

 

 

 2

 

 

 -

 

 

238

CRA qualified investment fund

 

 

11,240

 

 

 -

 

 

(299)

 

 

10,941

Total

 

$

558,323

 

$

497

 

$

(3,188)

 

$

555,632

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

$

13,986

 

$

120

 

$

(246)

 

$

13,860

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 

19,850

 

 

 1

 

 

(465)

 

 

19,386

Total

 

$

33,836

 

$

121

 

$

(711)

 

$

33,246

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

Amortized Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

Obligations of the U.S. Treasury and other U.S. government agencies or sponsored enterprises

    

$

118,272

    

$

17

    

$

(403)

    

$

117,886

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

 

99,876

 

 

452

 

 

(430)

 

 

99,898

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 

42,379

 

 

96

 

 

(563)

 

 

41,912

Corporate debt securities

 

 

3,788

 

 

 1

 

 

(14)

 

 

3,775

Obligations of municipal subdivisions

 

 

236

 

 

 -

 

 

(1)

 

 

235

CRA qualified investment fund

 

 

11,183

 

 

 -

 

 

(270)

 

 

10,913

Total

 

$

275,734

 

$

566

 

$

(1,681)

 

$

274,619

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

$

14,358

 

$

140

 

$

(267)

 

$

14,231

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 

21,147

 

 

 2

 

 

(536)

 

 

20,613

Total

 

$

35,505

 

$

142

 

$

(803)

 

$

34,844

 

Schedule of contractual maturities of securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2017

 

 

Available-for-sale

 

Held-to-maturity

 

 

Amortized Cost

 

Fair Value

 

Amortized Cost

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Due in one year or less

    

$

40,045

    

$

40,009

    

$

 -

    

$

 -

Due after one year through five years

 

 

151,627

 

 

151,167

 

 

 -

 

 

 -

Due after five years through ten years

 

 

75,000

 

 

74,933

 

 

 -

 

 

 -

 

 

 

266,672

 

 

266,109

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities and collateralized mortgage obligations

 

 

280,411

 

 

278,582

 

 

33,836

 

 

33,246

CRA qualified investment fund

 

 

11,240

 

 

10,941

 

 

 -

 

 

 -

Total

 

$

558,323

 

$

555,632

 

$

33,836

 

$

33,246

 

Schedule of investments in a continuous unrealized loss position

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2017

 

 

Less than 12 Months

 

12 Months or More

 

 

Amortized Cost

 

Gross Unrealized Losses

 

Fair Value

 

Amortized Cost

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Obligations of the U.S. Treasury and other U.S. government agencies or sponsored enterprises

    

$

217,111

    

$

(589)

    

$

216,522

    

$

 -

    

$

 -

    

$

 -

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

 

199,338

 

 

(1,776)

 

 

197,562

 

 

5,692

 

 

(47)

 

 

5,645

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 

28,027

 

 

(414)

 

 

27,613

 

 

2,760

 

 

(63)

 

 

2,697

Corporate debt securities

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Obligations of municipal subdivisions

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

CRA qualified investment fund

 

 

11,240

 

 

(299)

 

 

10,941

 

 

 -

 

 

 -

 

 

 -

Total

 

$

455,716

 

$

(3,078)

 

$

452,638

 

$

8,452

 

$

(110)

 

$

8,342

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

$

8,496

 

$

(215)

 

$

8,281

 

$

853

 

$

(31)

 

$

822

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 

11,315

 

 

(167)

 

 

11,148

 

 

7,285

 

 

(298)

 

 

6,987

Total

 

$

19,811

 

$

(382)

 

$

19,429

 

$

8,138

 

$

(329)

 

$

7,809

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

Less than 12 Months

 

12 Months or More

 

 

Amortized Cost

 

Gross Unrealized Losses

 

Fair Value

 

Amortized Cost

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

            

 

 

 

 

 

            

Obligations of the U.S. Treasury and other U.S. government agencies or sponsored enterprises

    

$

100,517

 

$

(403)

    

$

100,114

    

$

 -

    

$

 -

    

$

 -

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

 

60,233

 

 

(405)

 

 

59,828

 

 

4,121

 

 

(25)

 

 

4,096

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 

29,916

 

 

(492)

 

 

29,424

 

 

2,874

 

 

(71)

 

 

2,803

Corporate debt securities

 

 

1,785

 

 

(14)

 

 

1,771

 

 

 -

 

 

 -

 

 

 -

Obligations of municipal subdivisions

 

 

236

 

 

(1)

 

 

235

 

 

 -

 

 

 -

 

 

 -

CRA qualified investment fund

 

 

11,183

 

 

(270)

 

 

10,913

 

 

 -

 

 

 -

 

 

 -

Total

 

$

203,870

 

$

(1,585)

 

$

202,285

 

$

6,995

 

$

(96)

 

$

6,899

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

$

8,551

 

$

(234)

 

$

8,317

 

$

860

 

$

(33)

 

$

827

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 

12,141

 

 

(191)

 

 

11,950

 

 

7,644

 

 

(345)

 

 

7,299

Total

 

$

20,692

 

$

(425)

 

$

20,267

 

$

8,504

 

$

(378)

 

$

8,126