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Securities (Tables)
 6 Months Ended
Jun. 30, 2017
SECURITIES  
Schedule of amortized cost and fair value of securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2017

 

 

Amortized Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

SBA guaranteed securities

 

$

102,239

 

$

379

 

$

(35)

 

$

102,583

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

 

 

288,027

 

 

1,246

 

 

(343)

 

 

288,930

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

 

 

66,153

 

 

340

 

 

(107)

 

 

66,386

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

 

 

187,295

 

 

 9

 

 

(2,467)

 

 

184,837

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

 

 

31,194

 

 

71

 

 

 -

 

 

31,265

Corporate debt securities

 

 

1,787

 

 

 7

 

 

 -

 

 

1,794

Obligations of municipal subdivisions

 

 

236

 

 

 7

 

 

 -

 

 

243

CRA qualified investment fund

 

 

11,298

 

 

 -

 

 

(236)

 

 

11,062

Total

 

$

688,229

 

$

2,059

 

$

(3,188)

 

$

687,100

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

13,001

 

$

140

 

$

(138)

 

$

13,003

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

 

 

18,649

 

 

 7

 

 

(424)

 

 

18,232

Total

 

$

31,650

 

$

147

 

$

(562)

 

$

31,235

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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: residential

 

 

99,876

 

 

452

 

 

(430)

 

 

99,898

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

 

 

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: residential

 

$

14,358

 

$

140

 

$

(267)

 

$

14,231

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

 

 

21,147

 

 

 2

 

 

(536)

 

 

20,613

Total

 

$

35,505

 

$

142

 

$

(803)

 

$

34,844

 

Schedule of contractual maturities of securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2017

 

 

Available-for-sale

 

Held-to-maturity

 

 

Amortized Cost

 

Fair Value

 

Amortized Cost

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Due in one year or less

    

$

1,787

    

$

1,794

    

$

 -

    

$

 -

Due after one year through five years

 

 

102,239

 

 

102,583

 

 

 -

 

 

 -

Due after five years through ten years

 

 

236

 

 

243

 

 

 -

 

 

 -

 

 

 

104,262

 

 

104,620

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities and collateralized mortgage obligations

 

 

572,669

 

 

571,418

 

 

31,650

 

 

31,235

CRA qualified investment fund

 

 

11,298

 

 

11,062

 

 

 -

 

 

 -

Total

 

$

688,229

 

$

687,100

 

$

31,650

 

$

31,235

 

Schedule of investments in a continuous unrealized loss position

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA guaranteed securities

 

$

27,130

 

$

(35)

 

$

27,095

 

$

 -

 

$

 -

 

$

 -

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

 

 

67,723

 

 

(292)

 

 

67,431

 

 

5,222

 

 

(51)

 

 

5,171

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

 

 

12,925

 

 

(107)

 

 

12,818

 

 

 -

 

 

 -

 

 

 -

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

 

 

174,882

 

 

(2,415)

 

 

172,467

 

 

2,645

 

 

(52)

 

 

2,593

CRA qualified investment fund

 

 

11,298

 

 

(236)

 

 

11,062

 

 

 -

 

 

 -

 

 

 -

Total

 

$

293,958

 

$

(3,085)

 

$

290,873

 

$

7,867

 

$

(103)

 

$

7,764

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

5,715

 

$

(110)

 

$

5,605

 

$

847

 

$

(28)

 

$

819

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

 

 

8,909

 

 

(124)

 

 

8,785

 

 

6,928

 

 

(300)

 

 

6,628

Total

 

$

14,624

 

$

(234)

 

$

14,390

 

$

7,775

 

$

(328)

 

$

7,447

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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: residential

 

 

60,233

 

 

(405)

 

 

59,828

 

 

4,121

 

 

(25)

 

 

4,096

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

 

 

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: residential

 

$

8,551

 

$

(234)

 

$

8,317

 

$

860

 

$

(33)

 

$

827

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

 

 

12,141

 

 

(191)

 

 

11,950

 

 

7,644

 

 

(345)

 

 

7,299

Total

 

$

20,692

 

$

(425)

 

$

20,267

 

$

8,504

 

$

(378)

 

$

8,126