Investment Securities (Tables)

9 Months Ended

Sep. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Unrealized Gain (Loss) on Investments [Table Text Block]

The following tables present information related to the Company’s investment securities at September 30, 2015 and December 31, 2014.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	September 30, 2015
	(in thousands)
Investment securities available-for-sale
Federal agency obligations	$	30,474	$	438	$	(7	)	$	30,905
Residential mortgage pass-through securities		46,943		1,162		(14	)		48,091
Commercial mortgage pass-through securities		2,996		59		—			3,055
Obligations of U.S. states and political subdivisions		8,191		191		—			8,382
Trust preferred securities		16,087		385		(150	)		16,322
Corporate bonds and notes		76,049		2,418		(81	)		78,386
Asset-backed securities		21,403		2		(275	)		21,130
Certificates of deposit		1,896		27		(3	)		1,920
Equity securities		376		—		(38	)		338
Other securities		15,715		67		(97	)		15,685
Total	$	220,130	$	4,749	$	(665	)	$	224,214
Investment securities held-to-maturity
U.S. Treasury and agency securities	$	28,419	$	1,328	$	—		$	29,747
Federal agency obligations		35,519		642		(47	)		36,114
Residential mortgage-backed securities		4,240		19		(1	)		4,258
Commercial mortgage-backed securities		4,150		97		—			4,247
Obligations of U.S. states and political subdivisions		118,877		4,470		(46	)		123,301
Corporate bonds and notes		36,016		888		(78	)		36,826
Total	$	227,221	$	7,444	$	(172	)	$	234,493
Total investment securities	$	447,351	$	12,193	$	(837	)	$	458,707

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	December 31, 2014
	(in thousands)
Investment securities available-for-sale
Federal agency obligations	$	32,650	$	217	$	(50	)	$	32,817
Residential mortgage pass-through securities		58,836		1,531		(11	)		60,356
Commercial mortgage pass-through securities		3,042		4		—			3,046
Obligations of U.S. states and political subdivisions		8,201		205		—			8,406
Trust preferred securities		16,086		489		(269	)		16,306
Corporate bonds and notes		119,838		5,950		(11	)		125,777
Asset-backed securities		27,393		140		(31	)		27,502
Certificates of deposit		2,098		27		(2	)		2,123
Equity securities		376		—		(69	)		307
Other securities		12,941		33		(82	)		12,892
Total	$	281,461	$	8,596	$	(525	)	$	289,532
Investment securities held-to-maturity
U.S. Treasury and agency securities	$	28,264	$	920	$	—		$	29,184
Federal agency obligations		27,103		322		(28	)		27,397
Residential mortgage-backed securities		5,955		28		—			5,983
Commercial mortgage-backed securities		4,266		50		—			4,316
Obligations of U.S. states and political subdivisions		120,144		4,512		(60	)		124,596
Corporate bonds and notes		38,950		1,026		(7	)		39,969
Total	$	224,682	$	6,858	$	(95	)	$	231,445
Total investment securities	$	506,143	$	15,454	$	(620	)	$	520,977

Investments Classified by Contractual Maturity Date [Table Text Block]

The following table presents information for investment securities at September 30, 2015, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer.

	September 30, 2015
	Amortized Cost		Fair Value
	(in thousands)
Investment securities available-for-sale:
Due in one year or less	$	16,296	$	16,443
Due after one year through five years		30,271		31,401
Due after five years through ten years		55,740		56,953
Due after ten years		51,793		52,248
Residential mortgage pass-through securities		46,943		48,091
Commercial mortgage pass-through securities		2,996		3,055
Equity securities		376		338
Other securities		15,715		15,685
Total	$	220,130	$	224,214
Investment securities held-to-maturity:
Due in one year or less	$	—	$	—
Due after one year through five years		13,571		13,888
Due after five years through ten years		76,126		78,980
Due after ten years		129,134		133,120
Residential mortgage-backed securities		4,240		4,258
Commercial mortgage-backed securities		4,150		4,247
Total	$	227,221	$	234,493
Total investment securities	$	447,351	$	458,707

Schedule of Realized Gain (Loss) [Table Text Block]

Gross gains and losses from the sales, calls and maturities of investment securities for the three-month and nine-month periods ended September 30, 2015 and 2014 were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2015		2014		2015		2014
Proceeds	$	32,125	$	2,303	$	44,397	$	66,738
Gross gains on sales of investment securities		2,067		111		2,793		2,122
Gross losses on sales of investment securities		—		—		—		(22	)
Net gains on sales of investment securities	$	2,067	$	111	$	2,793	$	2,100
Less: tax provision on net gains		794		42		1,091		601
Total	$	1,273	$	69	$	1,702	$	1,499

Schedule of Preferred Security and Associated Ratings [Table Text Block]

The following table presents detailed information for each single issuer trust preferred security held by the Company at September 30, 2015, of which all but one has at least one rating below investment grade (in thousands):

								Lowest
					Gross			Credit
	Amortized		Fair		Unrealized			Rating
Issuer	Cost		Value		Gain (Loss)			Assigned
Countrywide Capital IV	$	1,771	$	1,804	$	33		BB+
Countrywide Capital V		2,747		2,829		82		BB+
Countrywide Capital V		250		257		7		BB+
Nationsbank Cap Trust III		1,576		1,426		(150	)	BB+
Morgan Stanley Cap Trust IV		2,500		2,537		37		BB
Morgan Stanley Cap Trust IV		1,743		1,775		32		BB
Goldman Sachs		1,000		1,149		149		BB
Stifel Financial		4,500		4,545		45		BBB-
Total	$	16,087	$	16,322	$	235

Schedule of Unrealized Loss on Investments [Table Text Block]

The following tables indicate gross unrealized losses not recognized in income and fair value, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position at September 30, 2015 and December 31, 2014:

	September 30, 2015
	Total					Less than 12 Months					12 Months or Longer
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(in thousands)
Investment securities available-for-sale:
Federal agency obligation	$	3,743	$	(7	)	$	3,478	$	(5	)	$	265	$	(2	)
Residential mortgage pass-through securities		2,283		(14	)		2,162		(13	)		121		(1	)
Trust preferred securities		1,426		(150	)		—		—			1,426		(150	)
Corporate bonds and notes		8,389		(81	)		6,437		(58	)		1,952		(23	)
Asset-backed securities		19,628		(275	)		18,359		(235	)		1,269		(40	)
Certificates of deposit		220		(3	)		220		(3	)		—		—
Equity securities		338		(38	)		—		—			338		(38	)
Other securities		5,597		(97	)		—		—			5,597		(97	)
Total	$	41,624	$	(665	)	$	30,656	$	(314	)	$	10,968	$	(351	)
Investment securities held-to-maturity:
Federal agency obligation	$	5,443	$	(47	)	$	4,614	$	(47	)	$	829	$	—
Residential mortgage pass-through securities		438		(1	)		391		(1	)		47		—
Obligations of U.S. states and political subdivisions		7,313		(46	)		7,313		(46	)		—		—
Corporate bonds and notes		2,670		(78	)		2,670		(78	)		—		—
Total	$	15,864	$	(172	)	$	14,988	$	(172	)	$	876	$	—
Total temporarily impaired securities	$	57,488	$	(837	)	$	45,644	$	(486	)	$	11,844	$	(351	)

	December 31, 2014
	Total					Less than 12 Months					12 Months or Longer
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(in thousands)
Investment securities available-for-sale:
Federal agency obligation	$	6,755	$	(50	)	$	2,770	$	(9	)	$	3,985	$	(41	)
Residential mortgage pass-through securities		5,694		(11	)		5,694		(11	)		—		—
Trust preferred securities		1,307		(269	)		—		—			1,307		(269	)
Corporate bonds and notes		1,961		(11	)		1,961		(11	)		—		—
Asset-backed securities		9,773		(31	)		9,773		(31	)		—		—
Certificates of deposit		369		(2	)		369		(2	)		—		—
Equity securities		307		(69	)		—		—			307		(69	)
Other securities		5,417		(82	)		1,978		(21	)		3,439		(61	)
Total	$	31,583	$	(525	)	$	22,545	$	(85	)	$	9,038	$	(440	)
Investment securities held-to-maturity:
Federal agency obligation	$	3,228	$	(28	)	$	3,228	$	(28	)	$	—	$	—
Obligations of U.S. states and political subdivisions		8,341		(60	)		1,401		(3	)		6,940		(57	)
Corporate bonds and notes		993		(7	)		993		(7	)		—		—
Total	$	12,562	$	(95	)	$	5,622	$	(38	)	$	6,940	$	(57	)
Total temporarily impaired securities	$	44,145	$	(620	)	$	28,167	$	(123	)	$	15,978	$	(497	)