XML 35 R24.htm IDEA: XBRL DOCUMENT v3.7.0.1
Investments (Tables)
 3 Months Ended
Mar. 31, 2017
Investments [Abstract]  
Unrealized Gain (Loss) On Investments





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

Gross

 

Gross

 

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair

March 31, 2017

 

cost

 

gains

 

losses

 

value

Equity securities

 

$

 164 

 

$

 162 

 

$

 -

 

$

 326 

U.S. Government and Agency securities

 

 

 12,200 

 

 

 135 

 

 

 (25)

 

 

 12,310 

Municipal securities

 

 

 60,117 

 

 

 963 

 

 

 (373)

 

 

 60,707 

Trust preferred securities

 

 

 5,985 

 

 

 -

 

 

 (412)

 

 

 5,573 

Agency mortgage-backed securities

 

 

 57,266 

 

 

 398 

 

 

 (465)

 

 

 57,199 

Private-label mortgage-backed securities

 

 

 986 

 

 

 52 

 

 

 (1)

 

 

 1,037 

Asset-backed securities

 

 

 32 

 

 

 -

 

 

 (2)

 

 

 30 



 

$

 136,750 

 

$

 1,710 

 

$

 (1,278)

 

$

 137,182 









 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

Gross

 

Gross

 

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair

December 31, 2016

 

cost

 

gains

 

losses

 

value

Equity securities

 

$

 164 

 

$

 126 

 

$

 -

 

$

 290 

U.S. Government and Agency securities

 

 

 12,598 

 

 

 148 

 

 

 (26)

 

 

 12,720 

Municipal securities

 

 

 62,763 

 

 

 793 

 

 

 (571)

 

 

 62,985 

Trust preferred securities

 

 

 5,979 

 

 

 -

 

 

 (518)

 

 

 5,461 

Agency mortgage-backed securities

 

 

 61,305 

 

 

 431 

 

 

 (452)

 

 

 61,284 

Private-label mortgage-backed securities

 

 

 1,053 

 

 

 56 

 

 

 (5)

 

 

 1,104 

Asset-backed securities

 

 

 33 

 

 

 -

 

 

 (2)

 

 

 31 



 

$

 143,895 

 

$

 1,554 

 

$

 (1,574)

 

$

 143,875 



Amortized Cost And Fair Value Of Debt Securities, By Contractual Maturity



 

 

 

 

 



 

 

 

 

 



 

 

 

 



 

 

 

(Dollars in thousands)

Amortized cost

 

Fair value

Due in one year or less

$

 1,562 

 

$

 1,563 

Due after one year through five years

 

 11,375 

 

 

 11,543 

Due after five years through ten years

 

 31,555 

 

 

 31,754 

Due after ten years

 

 33,842 

 

 

 33,760 



 

 78,334 

 

 

 78,620 

Mortgage-backed securities

 

 58,252 

 

 

 58,236 



$

 136,586 

 

$

 136,856 



Composition Of Net Realized Securities Gains



 

 

 

 

 



For the Three Months Ended



March 31

(Dollars in thousands)

2017

 

2016

Gross gains realized

$

 2 

 

$

 1 

Gross losses realized

 

 -

 

 

 -

Conversion gain

 

 -

 

 

 -

Net gains realized

$

 2 

 

$

 1 



Schedule Of Unrealized Loss On Investments



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



March 31, 2017

 

 



Less than 12 months

 

12 months or more

 

Total



Fair

 

Unrealized

 

 

 

Fair

 

Unrealized

 

 

 

Fair

 

Unrealized

 

 

(Dollars in thousands)

Value

 

Losses

 

Count

 

Value

 

Losses

 

Count

 

Value

 

Losses

 

Count



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government and Agency securities

$

 729 

 

$

 (9)

 

 1 

 

$

 3,349 

 

$

 (16)

 

 10 

 

$

 4,078 

 

$

 (25)

 

 11 

Municipal securities

 

 14,817 

 

 

 (306)

 

 28 

 

 

 1,678 

 

 

 (67)

 

 2 

 

 

 16,495 

 

 

 (373)

 

 30 

Trust preferred securities

 

 -

 

 

 -

 

 -

 

 

 5,573 

 

 

 (412)

 

 7 

 

 

 5,573 

 

 

 (412)

 

 7 

Agency mortgage-backed securities

 

 26,791 

 

 

 (376)

 

 42 

 

 

 4,726 

 

 

 (89)

 

 11 

 

 

 31,517 

 

 

 (465)

 

 53 

Private-label mortgage-backed securities

 

 -

 

 

 -

 

 -

 

 

 259 

 

 

 (1)

 

 1 

 

 

 259 

 

 

 (1)

 

 1 

Asset-backed securities

 

 -

 

 

 -

 

 -

 

 

 4 

 

 

 (2)

 

 1 

 

 

 4 

 

 

 (2)

 

 1 

Total temporarily impaired securities

$

 42,337 

 

$

 (691)

 

 71 

 

$

 15,589 

 

$

 (587)

 

 32 

 

$

 57,926 

 

$

 (1,278)

 

 103 









 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



December 31, 2016



Less than 12 months

 

12 months or more

 

Total



Fair

 

Unrealized

 

 

 

Fair

 

Unrealized

 

 

 

Fair

 

Unrealized

 

 

(Dollars in thousands)

Value

 

Losses

 

Count

 

Value

 

Losses

 

Count

 

Value

 

Losses

 

Count



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government and Agency securities

$

 789 

 

$

 (9)

 

 1 

 

$

 3,413 

 

$

 (17)

 

 10 

 

$

 4,202 

 

$

 (26)

 

 11 

Municipal securities

 

 23,407 

 

 

 (417)

 

 43 

 

 

 1,598 

 

 

 (154)

 

 2 

 

 

 25,005 

 

 

 (571)

 

 45 

Trust preferred securities

 

 -

 

 

 -

 

 -

 

 

 5,461 

 

 

 (518)

 

 7 

 

 

 5,461 

 

 

 (518)

 

 7 

Agency mortgage-backed securities

 

 26,995 

 

 

 (359)

 

 39 

 

 

 4,656 

 

 

 (93)

 

 11 

 

 

 31,651 

 

 

 (452)

 

 50 

Private-label mortgage-backed securities

 

 281 

 

 

 (5)

 

 1 

 

 

 -

 

 

 -

 

 -

 

 

 281 

 

 

 (5)

 

 1 

Asset-backed securities

 

 -

 

 

 -

 

 -

 

 

 4 

 

 

 (2)

 

 1 

 

 

 4 

 

 

 (2)

 

 1 

Total temporarily impaired securities

$

 51,472 

 

$

 (790)

 

 84 

 

$

 15,132 

 

$

 (784)

 

 31 

 

$

 66,604 

 

$

 (1,574)

 

 115 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Schedule Of Trust Preferred Securities



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deal Name

 

Maturity

 

Single Issuer or Pooled

 

Class

 

Amortized Cost

 

Fair Value

 

Gross Unrealized Gain (Loss)

 

Lowest Credit Rating Assigned



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BankAmerica Cap III

 

1/15/2027

 

Single

 

Preferred Stock

 

$

 968 

 

$

 911 

 

$

 (57)

 

BB+

Wachovia Cap Trust II

 

1/15/2027

 

Single

 

Preferred Stock

 

 

 280 

 

 

 269 

 

 

 (11)

 

BBB

Huntington Cap Trust

 

2/1/2027

 

Single

 

Preferred Stock

 

 

 947 

 

 

 856 

 

 

 (91)

 

BB

Corestates Captl Tr II

 

2/15/2027

 

Single

 

Preferred Stock

 

 

 944 

 

 

 910 

 

 

 (34)

 

BBB+

Huntington Cap Trust II

 

6/15/2028

 

Single

 

Preferred Stock

 

 

 902 

 

 

 825 

 

 

 (77)

 

BB

Chase Cap VI JPM

 

8/1/2028

 

Single

 

Preferred Stock

 

 

 967 

 

 

 900 

 

 

 (67)

 

BBB-

Fleet Cap Tr V

 

12/18/2028

 

Single

 

Preferred Stock

 

 

 977 

 

 

 902 

 

 

 (75)

 

BB+



 

 

 

 

 

 

 

$

 5,985 

 

$

 5,573 

 

$

 (412)

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Private Label Mortgage Backed Securities



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Gross 

 

 

 

 

 

 

 

Cumulative



 

Origination

 

Amortized

 

Fair

 

Unrealized

 

Collateral

 

Lowest Credit

 

Credit

 

OTTI

Description

 

Date

 

Cost

 

Value

 

Gain (Loss)

 

Type

 

Rating Assigned

 

Support %

 

Charges

MALT 2004-6 7A1

 

6/1/2004

 

$

 260 

 

$

 259 

 

$

 (1)

 

ALT A

 

CCC

 

 16.29 

 

$

 -

RALI 2005-QS2 A1

 

2/1/2005

 

 

 140 

 

 

 157 

 

 

 17 

 

ALT A

 

CC

 

 1.47 

 

 

 15 

RALI 2006-QS4 A2

 

4/1/2006

 

 

 366 

 

 

 376 

 

 

 10 

 

ALT A

 

D

 

 -

 

 

 323 

GSR 2006-5F 2A1

 

5/1/2006

 

 

 37 

 

 

 43 

 

 

 6 

 

Prime

 

D

 

 -

 

 

 15 

RALI 2006-QS8 A1

 

7/28/2006

 

 

 183 

 

 

 202 

 

 

 19 

 

ALT A

 

D

 

 -

 

 

 242 



 

 

 

$

 986 

 

$

 1,037 

 

$

 51 

 

 

 

 

 

 

 

$

 595 



Other Than Temporary Impairment, Credit Losses Recognized In Earnings



 

 

 

 

 



 

 

 

 

(Dollars in thousands)

Three Months Ended



2017

 

2016

Balance of cumulative credit-related OTTI at January 1

$

 595 

 

$

 555 

Additions for credit-related OTTI not previously recognized

 

 -

 

 

 20 

Additional increases for credit-related OTTI previously recognized when there is no intent to sell

 

 

 

 

 

    and no requirement to sell before recovery of amortized cost basis

 

 -

 

 

 -

Decreases for previously recognized credit-related OTTI because there was an intent to sell

 

 -

 

 

 -

Reduction for increases in cash flows expected to be collected

 

 -

 

 

 -

Balance of credit-related OTTI at March 31

$

 595 

 

$

 575