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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2017

 

 

Amortized Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

SBA guaranteed securities

 

$

106,284

 

$

252

 

$

(350)

 

$

106,186

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

 

 

259,045

 

 

1,197

 

 

(307)

 

 

259,935

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

 

 

66,069

 

 

 -

 

 

(611)

 

 

65,458

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

 

 

214,898

 

 

 -

 

 

(2,921)

 

 

211,977

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

 

 

31,138

 

 

 -

 

 

(30)

 

 

31,108

Corporate debt securities

 

 

1,788

 

 

 3

 

 

 -

 

 

1,791

Obligations of municipal subdivisions

 

 

6,686

 

 

 7

 

 

 -

 

 

6,693

CRA qualified investment fund

 

 

11,337

 

 

 -

 

 

(226)

 

 

11,111

Total

 

$

697,245

 

$

1,459

 

$

(4,445)

 

$

694,259

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

11,103

 

$

97

 

$

(131)

 

$

11,069

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

 

 

2,627

 

 

 5

 

 

 -

 

 

2,632

Total

 

$

13,730

 

$

102

 

$

(131)

 

$

13,701

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 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

    

$

1,788

    

$

1,791

    

$

 -

    

$

 -

Due after one year through five years

 

 

106,284

 

 

106,186

 

 

 -

 

 

 -

Due after five years through ten years

 

 

236

 

 

243

 

 

 -

 

 

 -

Due after ten years

 

 

6,450

 

 

6,450

 

 

 

 

 

 

 

 

 

114,758

 

 

114,670

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities and collateralized mortgage obligations

 

 

571,150

 

 

568,478

 

 

13,730

 

 

13,701

CRA qualified investment fund

 

 

11,337

 

 

11,111

 

 

 -

 

 

 -

Total

 

$

697,245

 

$

694,259

 

$

13,730

 

$

13,701

 

Schedule of investments in a continuous unrealized loss position

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 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

 

$

73,878

 

$

(350)

 

$

73,528

 

$

 -

 

$

 -

 

$

 -

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

 

 

70,052

 

 

(253)

 

 

69,799

 

 

5,127

 

 

(54)

 

 

5,073

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

 

 

66,069

 

 

(611)

 

 

65,458

 

 

 -

 

 

 -

 

 

 -

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

 

 

200,902

 

 

(2,873)

 

 

198,029

 

 

2,429

 

 

(48)

 

 

2,381

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

 

 

31,138

 

 

(30)

 

 

31,108

 

 

 -

 

 

 -

 

 

 -

CRA qualified investment fund

 

 

 -

 

 

 -

 

 

 -

 

 

11,337

 

 

(226)

 

 

11,111

Total

 

$

442,039

 

$

(4,117)

 

$

437,922

 

$

18,893

 

$

(328)

 

$

18,565

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

2,437

 

$

(27)

 

$

2,410

 

$

3,872

 

$

(104)

 

$

3,768

Total

 

$

2,437

 

$

(27)

 

$

2,410

 

$

3,872

 

$

(104)

 

$

3,768

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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