Securities (Tables)

9 Months Ended

Sep. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Fair Value of Securities

The fair value of securities is as follows:

			Gross		Gross
September 30, 2017	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Available for sale
U.S. Treasury and federal agencies	$	17,996	$	3	$	(114	)	$	17,885
State and municipal		141,751		2,288		(556	)		143,483
Federal agency collateralized mortgage obligations		135,511		131		(1,440	)		134,202
Federal agency mortgage-backed pools		213,071		496		(1,516	)		212,051
Private labeled mortgage-backed pools		1,841		—		(11	)		1,830
Corporate notes		275		118		—			393
Total available for sale investment securities	$	510,445	$	3,036	$	(3,637	)	$	509,844
Held to maturity
State and municipal	$	177,473	$	4,249	$	(862	)	$	180,860
Federal agency collateralized mortgage obligations		5,902		25		(31	)		5,896
Federal agency mortgage-backed pools		15,230		307		(71	)		15,466
Total held to maturity investment securities	$	198,605	$	4,581	$	(964	)	$	202,222
			Gross		Gross
December 31, 2016	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Available for sale
U.S. Treasury and federal agencies	$	8,051	$	2	$	(64	)	$	7,989
State and municipal		117,327		324		(1,059	)		116,592
Federal agency collateralized mortgage obligations		139,040		254		(2,099	)		137,195
Federal agency mortgage-backed pools		180,183		251		(3,707	)		176,726
Corporate notes		1,238		91		—			1,329
Total available for sale investment securities	$	445,839	$	922	$	(6,929	)	$	439,831
Held to maturity
State and municipal	$	165,607	$	2,700	$	(2,485	)	$	165,822
Federal agency collateralized mortgage obligations		6,530		31		(71	)		6,490
Federal agency mortgage-backed pools		21,057		897		(180	)		21,774
Total held to maturity investment securities	$	193,194	$	3,628	$	(2,736	)	$	194,086

Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity

The amortized cost and fair value of securities available for sale and held to maturity at September 30, 2017 and December 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	September 30, 2017				December 31, 2016
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Available for sale
Within one year	$	9,772	$	9,784	$	7,455	$	7,480
One to five years		44,771		44,811		37,483		37,479
Five to ten years		44,163		44,851		21,112		20,984
After ten years		61,316		62,315		60,566		59,967
		160,022		161,761		126,616		125,910
Federal agency collateralized mortgage obligations		135,511		134,202		139,040		137,195
Federal agency mortgage-backed pools		213,071		212,051		180,183		176,726
Private labeled mortgage-backed pools		1,841		1,830		—		—
Total available for sale investment securities	$	510,445	$	509,844	$	445,839	$	439,831
Held to maturity
Within one year	$	7,383	$	7,373	$	—	$	—
One to five years		37,402		38,645		24,594		25,271
Five to ten years		88,399		90,371		87,645		88,805
After ten years		44,289		44,471		53,368		51,746
		177,473		180,860		165,607		165,822
Federal agency collateralized mortgage obligations		5,902		5,896		6,530		6,490
Federal agency mortgage-backed pools		15,230		15,466		21,057		21,774
Total held to maturity investment securities	$	198,605	$	202,222	$	193,194	$	194,086

Gross Unrealized Losses and Fair Value of Company's Investments

The following table shows the gross unrealized losses and the fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.

	Less than 12 Months					12 Months or More					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
September 30, 2017	Value		Losses			Value		Losses			Value		Losses
U.S. Treasury and federal agencies	$	15,233	$	(71	)	$	1,372	$	(43	)	$	16,605	$	(114	)
State and municipal		41,995		(483	)		28,127		(935	)		70,122		(1,418	)
Federal agency collateralized mortgage obligations		61,135		(480	)		47,213		(991	)		108,348		(1,471	)
Federal agency mortgage-backed pools		81,397		(567	)		61,624		(1,020	)		143,021		(1,587	)
Private labeled mortgage-backed pools		1,830		(11	)		—		—			1,830		(11	)
Total temporarily impaired securities	$	201,590	$	(1,612	)	$	138,336	$	(2,989	)	$	339,926	$	(4,601	)
	Less than 12 Months					12 Months or More					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
December 31, 2016	Value		Losses			Value		Losses			Value		Losses
U.S. Treasury and federal agencies	$	6,987	$	(64	)	$	—	$	—		$	6,987	$	(64	)
State and municipal		142,466		(3,544	)		—		—			142,466		(3,544	)
Federal agency collateralized mortgage obligations		112,414		(1,918	)		10,199		(252	)		122,613		(2,170	)
Federal agency mortgage-backed pools		163,768		(3,887	)		—		—			163,768		(3,887	)
Total temporarily impaired securities	$	425,635	$	(9,413	)	$	10,199	$	(252	)	$	435,834	$	(9,665	)

Sales of Securities Available for Sale

Information regarding security proceeds, gross gains and gross losses are presented below.

	Three Months Ended September 30				Nine Months Ended September 30
	2017		2016		2017			2016
Sales of securities available for sale (Unaudited)
Proceeds	$	387	$	—	$	5,490		$	25,077
Gross gains		6		—		151			1,060
Gross losses		—		—		(113	)		(185	)