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Securities (Tables)
 3 Months Ended
Mar. 31, 2017
Gain (Loss) on Investments [Line Items]  
Reconciliation of fair value of securities
The following table presents a summary of the amortized cost, gross unrealized gains and losses and fair value of securities available for sale and securities held to maturity for the periods indicated:
 
March 31, 2017
 
December 31, 2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
 
(Dollars in thousands)
Available for sale securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency securities
$
24,007

 
$
262

 
$
—

 
$
24,269

 
$
24,006

 
$
238

 
$
—

 
$
24,244

Agency mortgage-backed securities
186,103

 
2,729

 
(498
)
 
188,334

 
173,268

 
2,852

 
(736
)
 
175,384

Agency collateralized mortgage obligations
126,017

 
182

 
(1,331
)
 
124,868

 
101,094

 
106

 
(1,332
)
 
99,868

State, county, and municipal securities
3,733

 
54

 
—

 
3,787

 
3,743

 
50

 
—

 
3,793

Single issuer trust preferred securities issued by banks
2,298

 
22

 
—

 
2,320

 
2,311

 
3

 
(3
)
 
2,311

Pooled trust preferred securities issued by banks and insurers
2,201

 
—

 
(605
)
 
1,596

 
2,200

 
—

 
(616
)
 
1,584

Small business administration pooled securities
37,140

 
28

 
(166
)
 
37,002

 
37,561

 
—

 
(372
)
 
37,189

Equity securities
19,166

 
964

 
(469
)
 
19,661

 
19,183

 
641

 
(553
)
 
19,271

Total available for sale securities
$
400,665

 
$
4,241

 
$
(3,069
)
 
$
401,837

 
$
363,366

 
$
3,890

 
$
(3,612
)
 
$
363,644

Held to maturity securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
1,007

 
$
45

 
$
—

 
$
1,052

 
$
1,007

 
$
47

 
$
—

 
$
1,054

Agency mortgage-backed securities
184,317

 
2,283

 
(1,024
)
 
185,576

 
156,088

 
2,274

 
(858
)
 
157,504

Agency collateralized mortgage obligations
284,716

 
1,065

 
(3,657
)
 
282,124

 
297,445

 
1,002

 
(3,797
)
 
294,650

Single issuer trust preferred securities issued by banks
1,500

 
38

 
—

 
1,538

 
1,500

 
44

 
—

 
1,544

Small business administration pooled securities
30,583

 
228

 
(184
)
 
30,627

 
31,036

 
189

 
(327
)
 
30,898

Total held to maturity securities
$
502,123

 
$
3,659

 
$
(4,865
)
 
$
500,917

 
$
487,076

 
$
3,556

 
$
(4,982
)
 
$
485,650

Total
$
902,788

 
$
7,900

 
$
(7,934
)
 
$
902,754

 
$
850,442

 
$
7,446

 
$
(8,594
)
 
$
849,294
Schedule of contractual maturities of securities
A schedule of the contractual maturities of securities available for sale and securities held to maturity as of March 31, 2017 is presented below:

 
Available for Sale
 
Held to Maturity
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
(Dollars in thousands)
Due in one year or less
$
1,232

 
$
1,239

 
$
—

 
$
—

Due after one year to five years
38,912

 
39,410

 
15,915

 
16,092

Due after five to ten years
87,856

 
88,207

 
21,090

 
21,643

Due after ten years
253,499

 
253,320

 
465,118

 
463,182

Total debt securities
$
381,499

 
$
382,176

 
$
502,123

 
$
500,917

Equity securities
$
19,166

 
$
19,661

 
$
—

 
$
—

Total
$
400,665

 
$
401,837

 
$
502,123

 
$
500,917
Schedule of gross unrealized losses and fair value of investments
The following tables show the gross unrealized losses and fair value of the Company’s investments in an unrealized loss position, which the Company has not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
 
March 31, 2017
 
 
 
Less than 12 months
 
12 months or longer
 
Total
 
# of holdings
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(Dollars in thousands)
Agency mortgage-backed securities
42

 
$
145,227

 
$
(1,522
)
 
$
—

 
$
—

 
$
145,227

 
$
(1,522
)
Agency collateralized mortgage obligations
33

 
247,688

 
(3,003
)
 
45,458

 
(1,985
)
 
293,146

 
(4,988
)
Pooled trust preferred securities issued by banks and insurers
1

 
—

 
—

 
1,596

 
(605
)
 
1,596

 
(605
)
Small business administration pooled securities
4

 
46,217

 
(350
)
 
—

 
—

 
46,217

 
(350
)
Equity securities
22

 
1,706

 
(53
)
 
5,928

 
(416
)
 
7,634

 
(469
)
Total temporarily impaired securities
102

 
$
440,838

 
$
(4,928
)
 
$
52,982

 
$
(3,006
)
 
$
493,820

 
$
(7,934
)

 
December 31, 2016
 
 
 
Less than 12 months
 
12 months or longer
 
Total
 
# of holdings
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(Dollars in thousands)
Agency mortgage-backed securities
57

 
$
137,949

 
$
(1,594
)
 
$
—

 
$
—

 
$
137,949

 
$
(1,594
)
Agency collateralized mortgage obligations
32

 
243,051

 
(3,140
)
 
47,403

 
(1,989
)
 
290,454

 
(5,129
)
Single issuer trust preferred securities issued by banks and insurers
1

 
—

 
—

 
1,036

 
(3
)
 
1,036

 
(3
)
Pooled trust preferred securities issued by banks and insurers
1

 
—

 
—

 
1,583

 
(616
)
 
1,583

 
(616
)
Small business administration pooled securities
5

 
59,846

 
(699
)
 
—

 
—

 
59,846

 
(699
)
Equity securities
25

 
3,625

 
(77
)
 
6,334

 
(476
)
 
9,959

 
(553
)
Total temporarily impaired securities
121

 
$
444,471

 
$
(5,510
)
 
$
56,356

 
$
(3,084
)
 
$
500,827

 
$
(8,594
)