Investment Securities (Tables)

12 Months Ended

Dec. 31, 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)	December 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	139,890		27		2,066		137,851
State and political subdivisions		515		10		-		525
Mortgage backed securities and collateralized mortgage obligations - residential		320,614		84		4,715		315,983
Corporate bonds		40,270		-		108		40,162
Small Business Administration-guaranteed participation securities		68,921		-		1,862		67,059
Mortgage backed securities and collateralized mortgage obligations - commercial		9,810		-		110		9,700
Other		650		-		-		650
Total debt securities		580,670		121		8,861		571,930
Equities		35						35
Total securities available for sale	$	580,705		121		8,861		571,965

(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 securities		631,590		136		11,401		620,325
Equities		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 2017, 2016 and 2015 are as follows:

(dollars in thousands)	Year ended December 31,
	2017		2016		2015

Proceeds from sales	$	-		44,829		22,945
Proceeds from calls		124,624		201,100		232,010
Gross realized gains		-		668		251
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)	December 31, 2017
	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	27,551		1,150		-		28,701
Corporate bonds		-		-		-		-
Total held to maturity	$	27,551		1,150		-		28,701

(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 held in available for sale and held to maturity greater than 10% of shareholders equity

The Company has the following balances of securities held in the available for sale and held to maturity portfolios as of December 31, 2017 that represent greater than 10% of shareholders’ equity:

(dollars in thousands)	Amortized Cost		Fair Value
Federal Home Loan Mortgage Corporation	$	112,564		111,183
Federal National Mortgage Association		260,882		257,386
Government National Mortgage Association		68,921		67,059
Small Business Administration		50,000		49,414

Securities Available for Sale [Member]

Investment [Line Items]

Debt securities based on the securities contractual maturity

The following table distributes the amortized cost and fair value of debt securities included in the available for sale portfolio as of December 31, 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 are shown separately:

(dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	45,783		45,739
Due in one year through five years		135,483		133,390
Due after five years through ten years		59		59
Due after ten years		-		-
Mortgage backed securities and collateralized mortgage obligations - residential		320,614		315,983
Small Business Administration- guaranteed participation securities		68,921		67,059
Mortgage backed securities and collateralized mortgage obligations - commercial		9,810		9,700
	$	580,670		571,930

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)	December 31, 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	$	29,734		266		98,090		1,800		127,824		2,066
Mortgage backed securities and collateralized mortgage obligations - residential		48,080		371		266,394		4,344		314,474		4,715
Corporate bonds		-		-		40,162		108		40,162		108
Small Business Administration- guaranteed participation securities		-		-		67,059		1,862		67,059		1,862
Mortgage backed securities and collateralized mortgage obligations - commercial		-				9,700		110		9,700		110

Total	$	77,814		637		481,405		8,224		559,219		8,861

(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
Small Business Administration- guaranteed participation securities		40,705		251		-		-		40,705		251
Mortgage backed securities and collateralized mortgage obligations - commercial		64,560		1,960		13,940		567		78,500		2,527
		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 December 31, 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 shown separately.

(dollars in thousands)	Amortized Cost		Fair Value
Mortgage backed securities and collateralized mortgage obligations - residential	$	27,551		28,701
	$	27,551		28,701