Securities (Tables)

9 Months Ended

Sep. 30, 2015

Securities

Schedule of amortized cost, unrealized gains and losses and fair values of securities classified available for sale and held to maturity

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(dollars in thousands)
September 30, 2015:
Available for sale
U.S. Treasury securities	$	65,062	$	701	$	—		$	65,763
Obligations of U.S. government corporations and agencies	149,620		813		—			150,433
Obligations of states and political subdivisions	189,953		2,801		(157		)	192,597
Residential mortgage-backed securities	322,919		5,930		(17		)	328,832
Corporate debt securities	152,456		763		(318		)	152,901
Total debt securities	880,010		11,008		(492		)	890,526
Mutual funds and other equity securities	11,373		867		—			12,240
Total	$	891,383	$	11,875	$	(492	)	$	902,766
Held to maturity
Obligations of states and political subdivisions	$	48,810	$	457	$	(29	)	$	49,238
Commercial mortgage-backed securities	1,002		48		—			1,050
Total	$	49,812	$	505	$	(29	)	$	50,288

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(dollars in thousands)
December 31, 2014:
Available for sale
U.S. Treasury securities	$	50,280	$	328	$	(2	)	$	50,606
Obligations of U.S. government corporations and agencies	166,207		981		(178		)	167,010
Obligations of states and political subdivisions	218,250		2,672		(761		)	220,161
Residential mortgage-backed securities	230,596		5,062		(22		)	235,636
Corporate debt securities	79,087		296		(76		)	79,307
Total debt securities	744,420		9,339		(1,039		)	752,720
Mutual funds and other equity securities	4,944		1,401		—			6,345
Total	$	749,364	$	10,740	$	(1,039	)	$	759,065
Held to maturity
Obligations of states and political subdivisions	$	1,359	$	15	$	(3	)	$	1,371
Commercial mortgage-backed securities	1,014		40		—			1,054
Total	$	2,373	$	55	$	(3	)	$	2,425

Schedule of amortized cost and fair value of debt securities available for sale and held to maturity by contractual maturity

	Available for sale				Held to maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(dollars in thousands)
Due in one year or less	$	107,516	$	107,924	$	1,053	$	1,055
Due after one year through five years	417,157		420,229		13,845		13,955
Due after five years through ten years	112,909		116,344		27,764		28,056
Due after ten years	242,428		246,029		7,150		7,222
Total	$	880,010	$	890,526	$	49,812	$	50,288

Schedule of realized gains and losses related to sales of securities available for sale

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015			2014
	(dollars in thousands)
Gross security gains	$	—	$	—	$	1		$	57
Gross security (losses)	—		—		(22		)	(17		)
Net security (losses) gains	$	—	$	—	$	(21	)	$	40

Schedule of securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in continuous loss position

	Continuous unrealized losses existing for less than 12 months, gross					Continuous unrealized losses existing for greater than 12 months, gross					Total, gross
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	(dollars in thousands)
September 30, 2015:
Available for sale
Obligations of states and political subdivisions	$	8,613	$	(53	)	$	11,478	$	(104	)	$	20,091	$	(157	)
Residential mortgage-backed Securities	6,412		(17		)	—		—			6,412		(17		)
Corporate debt securities	62,014		(318		)	—		—			62,014		(318		)
Total temporarily impaired Securities	$	77,039	$	(388	)	$	11,478	$	(104	)	$	88,517	$	(492	)
Held to maturity
Obligations of states and political subdivisions	$	5,188	$	(29	)	$	—	$	—		$	5,188	$	(29	)
Total temporarily impaired Securities	$	5,188	$	(29	)	$	—	$	—		$	5,188	$	(29	)

	Continuous unrealized losses existing for less than 12 months, gross					Continuous unrealized losses existing for greater than 12 months, gross					Total, gross
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	(dollars in thousands)
December 31, 2014:
Available for sale
U.S. Treasury securities	$	—	$	—		$	366	$	(2	)	$	366	$	(2	)
Obligations of U.S. government corporations and agencies	—		—			25,118		(178		)	25,118		(178		)
Obligations of states and political subdivisions	40,385		(140		)	40,201		(621		)	80,586		(761		)
Residential mortgage-backed Securities	10,630		(22		)	—		—			10,630		(22		)
Corporate debt securities	16,400		(72		)	213		(4		)	16,613		(76		)
Total temporarily impaired Securities	$	67,415	$	(234	)	$	65,898	$	(805	)	$	133,313	$	(1,039	)
Held to maturity
Obligations of states and political subdivisions	$	534	$	(3	)	$	—	$	—		$	534	$	(3	)
Total temporarily impaired Securities	$	534	$	(3	)	$	—	$	—		$	534	$	(3	)

General obligation bonds

Securities

Summary of amortized cost and fair values of the Company's portfolio of municipal bonds by issuer state

September 30, 2015:

						Average Exposure
	Number of	Amortized		Fair		Per Issuer
U.S. State	Issuers	Cost		Value		(Fair Value)
	(dollars in thousands)
Illinois	88	$	71,965	$	73,122	$	831
Wisconsin	38	32,955		33,304		876
Michigan	39	29,111		29,600		759
Pennsylvania	10	12,815		12,908		1,291
Ohio	10	10,995		11,055		1,105
Texas	18	12,179		12,279		682
Iowa	3	5,551		5,617		1,872
Other	49	27,775		28,362		579
Total general obligations bonds	255	$	203,346	$	206,247	$	809

December 31, 2014:

						Average Exposure
	Number of	Amortized		Fair		Per Issuer
U.S. State	Issuers	Cost		Value		(Fair Value)
	(dollars in thousands)
Illinois	63	$	59,979	$	61,058	$	969
Wisconsin	39	36,165		36,365		932
Michigan	33	30,400		30,739		931
Pennsylvania	10	12,756		12,761		1,276
Ohio	8	9,954		9,922		1,240
Texas	7	7,364		7,313		1,045
Iowa	3	6,116		6,142		2,047
Other	24	18,862		19,370		807
Total general obligations bonds	187	$	181,596	$	183,670	$	982

Revenue bonds

Securities

Summary of amortized cost and fair values of the Company's portfolio of municipal bonds by issuer state

September 30, 2015:

						Average Exposure
	Number of	Amortized		Fair		Per Issuer
U.S. State	Issuers	Cost		Value		(Fair Value)
	(dollars in thousands)
Illinois	7	$	8,908	$	8,925	$	1,275
Indiana	9	10,194		10,255		1,139
Other	21	16,315		16,408		781
Total revenue bonds	37	$	35,417	$	35,588	$	962

December 31, 2014:

						Average Exposure
	Number of	Amortized		Fair		Per Issuer
U.S. State	Issuers	Cost		Value		(Fair Value)
	(dollars in thousands)
Illinois	4	$	6,772	$	6,708	$	1,677
Indiana	8	12,520		12,469		1,559
Other	21	18,721		18,685		890
Total revenue bonds	33	$	38,013	$	37,862	$	1,147