Investment Securities (Tables)

6 Months Ended

Jun. 30, 2017

Amortized cost and fair value of the securities available for sale

The amortized cost and fair value of the securities available for sale are as follows:

(dollars in thousands)	June 30, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	129,939		71		1,624		128,386
State and political subdivisions		523		13		-		536
Corporate bonds		40,613		-		115		40,498
Mortgage backed securities and collateralized mortgage obligations - residential		355,966		177		3,552		352,591
Small Business Administration- guaranteed participation securities		74,514		-		1,656		72,858
Mortgage backed securities and collateralized mortgage obligations - commercial		9,960		-		57		9,903
Other		650		-		-		650
Total debt securities		612,165		261		7,004		605,422
Equity securities		35		-		-		35
Total securities available for sale	$	612,200		261		7,004		605,457

(dollars in thousands)	December 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	119,887		-		2,621		117,266
State and political subdivisions		873		13		-		886
Mortgage backed securities and collateralized mortgage obligations - residential		378,068		123		5,883		372,308
Corporate bonds		40,956		-		251		40,705
Small Business Administration- guaranteed participation securities		81,026		-		2,527		78,499
Mortgage backed securities and collateralized mortgage obligations - commercial		10,130		-		119		10,011
Other		650		-		-		650
Total debt securities		631,590		136		11,401		620,325
Equity securities		35		-		-		35
Total securities available for sale	$	631,625		136		11,401		620,360

Investment [Line Items]

Proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses

The proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three and six months ended June 30, 2017 and 2016 are as follows:

(dollars in thousands)	Three months ended June 30,
	2017		2016

Proceeds from sales	$	-		44,829
Proceeds from calls		52,799		40,808
Gross realized gains		-		668
Gross realized losses		-		-

(dollars in thousands)	Six months ended June 30,
	2017		2016

Proceeds from sales	$	-		44,829
Proceeds from calls		73,569		89,721
Gross realized gains		-		668
Gross realized losses		-		-

Amortized cost and fair value of the held to maturity securities

The amortized cost and fair value of the held to maturity securities are as follows:

(dollars in thousands)	June 30, 2017
	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	31,211		1,520		-		32,731
Corporate bonds		9,997		75		-		10,072
Total held to maturity	$	41,208		1,595		-		42,803

(dollars in thousands)	December 31, 2016
	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	35,500		1,736		-		37,236
Corporate bonds		9,990		300		-		10,290
Total held to maturity	$	45,490		2,036		-		47,526

Securities Available for Sale [Member]

Investment [Line Items]

Debt securities based on the securities contractual maturity

The following table distributes the debt securities included in the available for sale portfolio as of June 30, 2017, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately:

(dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	50,482		50,397
Due in one year through five years		111,183		109,607
Due after five years through ten years		10,060		10,066
Due after ten years		-		-
Mortgage backed securities and collateralized mortgage obligations - residential		355,966		352,591
Small Business Administration- guaranteed participation securities		74,514		72,858
Mortgage backed securities and collateralized mortgage obligations - commercial		9,960		9,903
	$	612,165		605,422

Gross unrealized losses on investment securities and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position

Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows:

(dollars in thousands)	June 30, 2017
	Less than 12 months				12 months or more				Total
	Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss
U.S. government sponsored enterprises	$	88,286		1,602		14,978		22		103,264		1,624
Mortgage backed securities and collateralized mortgage obligations - residential		320,377		3,361		11,024		191		331,401		3,552
Corporate bonds		40,498		115		-		-		40,498		115
Small Business Administration- guaranteed participation securities		60,095		1,200		12,763		456		72,858		1,656
Mortgage backed securities and collateralized mortgage obligations - commercial		9,903		57		-		-		9,903		57

Total	$	519,159		6,335		38,765		669		557,924		7,004

(dollars in thousands)	December 31, 2016
	Less than 12 months				12 months or more				Total
	Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss
U.S. government sponsored enterprises	$	102,266		2,621		-		-		102,266		2,621
Mortgage backed securities and collateralized mortgage obligations - residential		359,622		5,766		4,713		117		364,335		5,883
Corporate bonds		40,705		251		-		-		40,705		251
Small Business Administration- guaranteed participation securities		64,560		1,960		13,940		567		78,500		2,527
Mortgage backed securities and collateralized mortgage obligations - commercial		10,011		119		-		-		10,011		119

Total	$	577,164		10,717		18,653		684		595,817		11,401

Held to Maturity Securities [Member]

Investment [Line Items]

Debt securities based on the securities contractual maturity

The following table distributes the debt securities included in the held to maturity portfolio as of June 30, 2017, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately:

(dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	9,997		10,072
Mortgage backed securities and collateralized mortgage obligations - residential		31,211		32,731
	$	41,208		42,803

- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

+ References + Details