Securities (Tables)

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Fair Value of Securities

The fair value of securities is as follows:

	March 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale
U.S. Treasury and federal agencies	$	24,665	$	1	$	(382	)	$	24,284
State and municipal		135,021		298		(1,948	)		133,371
Federal agency collateralized mortgage obligations		137,443		28		(4,063	)		133,408
Federal agency mortgage-backed pools		218,274		40		(6,141	)		212,173
Private labeled mortgage-backed pools		4,135		—		(25	)		4,110
Corporate notes		260		130		—			390
Total available for sale investment securities	$	519,798	$	497	$	(12,559	)	$	507,736
Held to maturity
State and municipal	$	186,529	$	1,793	$	(4,339	)	$	183,983
Federal agency collateralized mortgage obligations		5,566		11		(137	)		5,440
Federal agency mortgage-backed pools		14,594		91		(212	)		14,473
Total held to maturity investment securities	$	206,689	$	1,895	$	(4,688	)	$	203,896
	December 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale
U.S. Treasury and federal agencies	$	19,277	$	—	$	(225	)	$	19,052
State and municipal		148,045		2,189		(670	)		149,564
Federal agency collateralized mortgage obligations		132,871		45		(2,551	)		130,365
Federal agency mortgage-backed pools		211,487		155		(2,985	)		208,657
Private labeled mortgage-backed pools		1,650		—		(8	)		1,642
Corporate notes		272		113		—			385
Total available for sale investment securities	$	513,602	$	2,502	$	(6,439	)	$	509,665
Held to maturity
State and municipal	$	179,836	$	3,493	$	(2,932	)	$	180,397
Federal agency collateralized mortgage obligations		5,734		17		(69	)		5,682
Federal agency mortgage-backed pools		14,878		216		(88	)		15,006
Total held to maturity investment securities	$	200,448	$	3,726	$	(3,089	)	$	201,085

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 March 31, 2018 and December 31, 2017, 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.

	March 31, 2018				December 31, 2017
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Available for sale
Within one year	$	11,599	$	11,539	$	13,347	$	13,326
One to five years		30,343		29,886		40,468		40,193
Five to ten years		60,856		60,059		50,473		51,156
After ten years		57,148		56,561		63,306		64,326
		159,946		158,045		167,594		169,001
Federal agency collateralized mortgage obligations		137,443		133,408		132,871		130,365
Federal agency mortgage-backed pools		218,274		212,173		211,487		208,657
Private labeled mortgage-backed pools		4,135		4,110		1,650		1,642
Total available for sale investment securities	$	519,798	$	507,736	$	513,602	$	509,665
Held to maturity
Within one year	$	8,755	$	8,698	$	1,948	$	1,934
One to five years		42,305		42,970		40,603		41,531
Five to ten years		96,666		96,328		89,801		91,249
After ten years		38,803		35,987		47,484		45,683
		186,529		183,983		179,836		180,397
Federal agency collateralized mortgage obligations		5,566		5,440		5,734		5,682
Federal agency mortgage-backed pools		14,594		14,473		14,878		15,006
Total held to maturity investment securities	$	206,689	$	203,896	$	200,448	$	201,085

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.

	March 31, 2018
	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Available for sale
U.S. Treasury and federal agencies	$	17,929	$	(320	)	$	2,853	$	(62	)	$	20,782	$	(382	)
State and municipal		155,952		(4,750	)		29,869		(1,537	)		185,821		(6,287	)
Federal agency collateralized mortgage obligations		60,700		(1,332	)		69,729		(2,868	)		130,429		(4,200	)
Federal agency mortgage-backed pools		133,020		(2,962	)		83,578		(3,391	)		216,598		(6,353	)
Private labeled mortgage-backed pools		1,590		(25	)		—		—			1,590		(25	)
Total temporarily impaired securities	$	369,191	$	(9,389	)	$	186,029	$	(7,858	)	$	555,220	$	(17,247	)
	December 31, 2017
	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Available for sale
U.S. Treasury and federal agencies	$	15,882	$	(180	)	$	2,870	$	(45	)	$	18,752	$	(225	)
State and municipal		54,312		(2,758	)		30,691		(844	)		85,003		(3,602	)
Federal agency collateralized mortgage obligations		54,006		(589	)		73,462		(2,031	)		127,468		(2,620	)
Federal agency mortgage-backed pools		103,926		(1,019	)		86,846		(2,054	)		190,772		(3,073	)
Private labeled mortgage-backed pools		1,642		(8	)		—		—			1,642		(8	)
Total temporarily impaired securities	$	229,768	$	(4,554	)	$	193,869	$	(4,974	)	$	423,637	$	(9,528	)

Sales of Securities Available for Sale

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

	Three Months Ended March 31
	2018			2017
Sales of securities available for sale
Proceeds	$	9,836		$	2,090
Gross gains		37			35
Gross losses		(26	)		—