Securities Available-for-Sale (Tables)

3 Months Ended

Mar. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Composition of Securities Available-for-Sale

The following table presents the amortized cost and fair value of available-for-sale securities as of the dates presented:

	March 31, 2017									December 31, 2016
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. treasury securities	$	24,904	$	24	$	(91	)	$	24,837	$	24,891	$	47	$	(127	)	$	24,811
Obligations of U.S. government corporations and agencies	220,721		1,408		(421		)	221,708		230,989		1,573		(383		)	232,179
Collateralized mortgage obligations of U.S. government corporations and agencies	125,466		462		(773		)	125,155		130,046		465		(734		)	129,777
Residential mortgage-backed securities of U.S. government corporations and agencies	35,132		928		(236		)	35,824		36,606		984		(232		)	37,358
Commercial mortgage-backed securities of U.S. government corporations and agencies	163,396		308		(1,727		)	161,977		127,311		243		(1,950		)	125,604
Obligations of states and political subdivisions	127,638		4,659		—			132,297		128,783		3,772		(46		)	132,509
Debt Securities	697,257		7,789		(3,248		)	701,798		678,626		7,084		(3,472		)	682,238
Marketable equity securities	7,367		4,035		(2		)	11,400		7,579		3,670		—			11,249
Total	$	704,624	$	11,824	$	(3,250	)	$	713,198	$	686,205	$	10,754	$	(3,472	)	$	693,487

Fair Value and Age of Gross Unrealized Losses by Investment Category

The following tables present the fair value and the age of gross unrealized losses by investment category as of the dates presented:

	March 31, 2017
	Less Than 12 Months						12 Months or More					Total
(dollars in thousands)	Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses		Number of Securities	Fair Value		Unrealized Losses
U.S. Treasury securities	1	$	9,849	$	(91	)	—	$	—	$	—	1	$	9,849	$	(91	)
Obligations of U.S. government corporations and agencies	7	62,308		(421		)	—	—		—		7	62,308		(421		)
Collateralized mortgage obligations of U.S. government corporations and agencies	9	74,604		(773		)	—	—		—		9	74,604		(773		)
Residential mortgage-backed securities of U.S. government corporations and agencies	2	9,692		(236		)	—	—		—		2	9,692		(236		)
Commercial mortgage-backed securities of U.S. government corporations and agencies	12	113,000		(1,727		)	—	—		—		12	113,000		(1,727		)
Obligations of states and political subdivisions	—	—		—			—	—		—		—	—		—
Debt Securities	31	269,453		(3,248		)	—	—		—		31	269,453		(3,248		)
Marketable equity securities	1	69		(2		)	—	—		—		1	69		(2		)
Total Temporarily Impaired Securities	32	$	269,522	$	(3,250	)	—	$	—	$	—	32	$	269,522	$	(3,250	)

	December 31, 2016
	Less Than 12 Months						12 Months or More					Total
(dollars in thousands)	Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses		Number of Securities	Fair Value		Unrealized Losses
U.S. Treasury securities	1	$	9,811	$	(127	)	—	$	—	$	—	1	$	9,811	$	(127	)
Obligations of U.S. government corporations and agencies	7	62,483		(383		)	—	—		—		7	62,483		(383		)
Collateralized mortgage obligations of U.S. government corporations and agencies	10	83,031		(734		)	—	—		—		10	83,031		(734		)
Residential mortgage-backed securities of U.S. government corporations and agencies	2	10,022		(232		)	—	—		—		2	10,022		(232		)
Commercial mortgage-backed securities of U.S. government corporations and agencies	10	96,576		(1,950		)	—	—		—		10	96,576		(1,950		)
Obligations of states and political subdivisions	1	5,577		(46		)	—	—		—		1	5,577		(46		)
Debt Securities	31	267,500		(3,472		)	—	—		—		31	267,500		(3,472		)
Marketable equity securities	—	—		—			—	—		—		—	—		—
Total Temporarily Impaired Securities	31	$	267,500	$	(3,472	)	—	$	—	$	—	31	$	267,500	$	(3,472	)

Unrealized Gains and Losses, Net of Tax on Securities Available for Sale

The following table displays net unrealized gains and losses, net of tax, on securities available for sale included in accumulated other comprehensive (loss)/income, for the periods presented:

	March 31, 2017									December 31, 2016
(dollars in thousands)	Gross Unrealized Gains			Gross Unrealized Losses			Net Unrealized Gains/ (Losses)			Gross Unrealized Gains			Gross Unrealized Losses			Net Unrealized Gains/ (Losses)
Total unrealized gains/(losses) on securities available-for-sale	$	11,824		$	(3,250	)	$	8,574		$	10,754		$	(3,472	)	$	7,282
Income tax expense/(benefit)	(4,152		)	1,141			(3,011		)	(3,776		)	1,219			(2,557		)
Net unrealized gains/(losses), net of tax included in accumulated other comprehensive income/(loss)	$	7,672		$	(2,109	)	$	5,563		$	6,978		$	(2,253	)	$	4,725

Amortized Cost and Fair Value of Available-for-Sale Securities

The amortized cost and fair value of securities available-for-sale at March 31, 2017 by contractual maturity are included in the table below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	March 31, 2017
(dollars in thousands)	Amortized Cost		Fair Value
Obligations of the U.S. Treasury, U.S. government corporations and agencies, and obligations of states and political subdivisions
Due in one year or less	$	57,066	$	57,302
Due after one year through five years	196,739		198,760
Due after five years through ten years	54,282		54,913
Due after ten years	65,176		67,867
	373,263		378,842
Collateralized mortgage obligations of U.S. government corporations and agencies	125,466		125,155
Residential mortgage-backed securities of U.S. government corporations and agencies	35,132		35,824
Commercial mortgage-backed securities of U.S. government corporations and agencies	163,396		161,977
Debt Securities	697,257		701,798
Marketable equity securities	7,367		11,400
Total	$	704,624	$	713,198