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Investments (Tables)
 3 Months Ended
Mar. 31, 2016
Investments [Abstract]  
Summary of amortized cost, gross unrealized gains and losses, and fair value of investment securities
The amortized cost, gross unrealized gains and losses, and fair value of investment securities at March 31, 2016 and December 31, 2015 were as follows (in thousands):

     
Gross
  
Gross
    
  
Amortized
  
Unrealized
  
Unrealized
  
Fair
 
March 31, 2016
 
Cost
  
Gains
  
Losses
  
Value
 
Available-for-sale securities:
            
  U.S. agency securities
 
$
212,978
  
$
1,377
  
$
(36
)
 
$
214,319
 
  U.S. treasury securities
  
5,078
   
4
   
-
   
5,082
 
  Obligations of state and
                
    political subdivisions
  
101,685
   
3,089
   
(116
)
  
104,658
 
  Corporate obligations
  
12,503
   
52
   
(19
)
  
12,536
 
  Mortgage-backed securities in
                
    government sponsored entities
  
32,675
   
351
   
(37
)
  
32,989
 
  Equity securities in financial
                
     institutions
  
2,001
   
364
   
(24
)
  
2,341
 
Total available-for-sale securities
 
$
366,920
  
$
5,237
  
$
(232
)
 
$
371,925
 
                 
December 31, 2015
                
Available-for-sale securities:
                
  U.S. agency securities
 
$
199,749
  
$
369
  
$
(527
)
 
$
199,591
 
  U.S. treasury securities
  
10,103
   
-
   
(21
)
  
10,082
 
  Obligations of state and
                
    political subdivisions
  
99,856
   
3,080
   
(73
)
  
102,863
 
  Corporate obligations
  
14,583
   
68
   
(86
)
  
14,565
 
  Mortgage-backed securities in
                
    government sponsored entities
  
30,107
   
186
   
(89
)
  
30,204
 
  Equity securities in financial institutions
  
2,001
   
436
   
(5
)
  
2,432
 
Total available-for-sale securities
 
$
356,399
  
$
4,139
  
$
(801
)
 
$
359,737
 
Unrealized losses and fair value of investments
The following table shows the Company's gross unrealized losses and fair value of the Company's investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time, which individual securities have been in a continuous unrealized loss position, at March 31, 2016 and December 31, 2015 (in thousands). As of March 31, 2016, the Company owned 44 securities whose fair value was less than their cost basis.
 
March 31, 2016
 
Less than Twelve Months
  
Twelve Months or Greater
  
Total
 
     
Gross
     
Gross
     
Gross
 
  
Fair
  
Unrealized
  
Fair
  
Unrealized
  
Fair
  
Unrealized
 
 
 
Value
  
Losses
  
Value
  
Losses
  
Value
  
Losses
 
U.S. agency securities
 
$
34,231
  
$
(36
)
 
$
-
  
$
-
  
$
34,231
  
$
(36
)
Obligations of state and
                        
    political subdivisions
  
12,058
   
(96
)
  
2,197
   
(20
)
  
14,255
   
(116
)
Corporate obligations
  
4,257
   
(14
)
  
2,140
   
(5
)
  
6,397
   
(19
)
Mortgage-backed securities in
                        
   government sponsored entities
  
6,174
   
(21
)
  
929
   
(16
)
  
7,103
   
(37
)
Equity securities in financial institutions
  
985
   
(24
)
  
-
   
-
   
985
   
(24
)
    Total securities
 
$
57,705
  
$
(191
)
 
$
5,266
  
$
(41
)
 
$
62,971
  
$
(232
)
                         
December 31, 2015
                        
U.S. agency securities
 
$
123,591
  
$
(527
)
 
$
-
  
$
-
  
$
123,591
  
$
(527
)
U.S. treasury securities
  
10,082
   
(21
)
  
-
   
-
   
10,082
   
(21
)
Obligations of states and
                        
     political subdivisions
  
7,023
   
(57
)
  
2,914
   
(16
)
  
9,937
   
(73
)
Corporate obligations
  
5,822
   
(61
)
  
2,138
   
(25
)
  
7,960
   
(86
)
Mortgage-backed securities in
                        
   government sponsored entities
  
9,830
   
(77
)
  
227
   
(12
)
  
10,057
   
(89
)
Equity securities in financial institutions
  
106
   
(5
)
  
-
   
-
   
106
   
(5
)
    Total securities
 
$
156,454
  
$
(748
)
 
$
5,279
  
$
(53
)
 
$
161,733
  
$
(801
)
Gross gains and losses on available-for-sale securities
Proceeds from sales of securities available-for-sale for the three months ended March 31, 2016 and 2015 were $5,020,000 and $14,623,000, respectively. The gross gains and losses were as follows (in thousands):
 
  
Three Months Ended
 
  
March 31,
 
 
 
2016
  
2015
 
Gross gains
 
$
27
  
$
137
 
Gross losses
  
-
   
(11
)
Net gains
 
$
27
  
$
126
 
Summary of amortized cost and fair value of debt securities by contractual maturity
The amortized cost and fair value of debt securities at March 31, 2016, by contractual maturity, are shown below (in thousands):

  
Amortized
    
 
 
Cost
  
Fair Value
 
Available-for-sale debt securities:
      
  Due in one year or less
 
$
37,238
  
$
37,445
 
  Due after one year through five years
  
198,445
   
200,491
 
  Due after five years through ten years
  
43,004
   
43,960
 
  Due after ten years
  
86,232
   
87,688
 
Total
 
$
364,919
  
$
369,584