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Investment securities (Tables)
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Schedule of investment securities
Investment securities at December 31, 2015 and 2014 consisted of the following (dollars in thousands):
 
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Estimated
fair value
2015
 

 
 

 
 

 
 

Available-for-sale
 

 
 

 
 

 
 

U.S. Agency mortgage-backed securities (MBS) *
$
154,691

 
$
2,698

 
$
(455
)
 
$
156,934

Non-agency MBS
118,765

 
477

 
(1,016
)
 
118,226

U.S. Agency asset-backed securities
7,468

 
800

 
(23
)
 
8,245

Corporate debt securities
26,199

 
121

 
—

 
26,320

Mutual fund
525

 
12

 
—

 
537

 
$
307,648

 
$
4,108

 
$
(1,494
)
 
$
310,262

Held-to-maturity
 

 
 

 
 

 
 

U.S. Agency mortgage-backed securities (MBS)
$
98,800

 
$
1,875

 
$
(5
)
 
$
100,670

Tax credit investments
421

 
—

 
—

 
421

Obligations of state and political subdivisions
40,203

 
968

 
(2
)
 
41,169

 
$
139,424

 
$
2,843

 
$
(7
)
 
$
142,260

 
 
 
 
 
 
 
 
2014
 

 
 

 
 

 
 

Available-for-sale
 

 
 

 
 

 
 

U.S. Agency MBS *
$
232,514

 
$
4,562

 
$
(896
)
 
$
236,180

Non-agency MBS
66,872

 
232

 
(407
)
 
66,697

U.S. Agency asset-backed securities
8,192

 
858

 
(42
)
 
9,008

Corporate securities
7,333

 
137

 
—

 
7,470

Mutual fund
514

 
13

 
—

 
527

 
$
315,425

 
$
5,802

 
$
(1,345
)
 
$
319,882

Held-to-maturity
 

 
 

 
 

 
 

U.S. Agency mortgage-backed securities (MBS)
$
110,175

 
$
2,032

 
$
—

 
$
112,207

Tax credit investments
564

 
—

 
—

 
564

Obligations of state and political subdivisions
41,840

 
962

 
(18
)
 
42,784

 
$
152,579

 
$
2,994

 
$
(18
)
 
$
155,555

 
* U.S. Agency MBS included private label MBS of approximately $7.8 million and $9.3 million at December 31, 2015 and 2014, respectively, which are supported by FHA/VA collateral.
Investment securities, continuous unrealized loss position
The following table presents the fair value and gross unrealized losses of the Bank’s investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2015 and 2014 (dollars in thousands):
 
Less than 12 months
 
12 months or more
 
Total
 
Estimated 
fair value
 
Unrealized
losses
 
Estimated 
fair value
 
Unrealized
losses
 
Estimated 
fair value
 
Unrealized
losses
2015
 

 
 

 
 

 
 

 
 

 
 

Available-for-sale
 
 
 
 
 
 
 
 
 
 
 
U.S. Agency MBS
$
23,630

 
$
(123
)
 
$
34,576

 
$
(332
)
 
$
58,206

 
$
(455
)
Non-Agency MBS
66,412

 
(765
)
 
12,225

 
(251
)
 
78,637

 
(1,016
)
U.S. Agency asset-backed securities
—

 
—

 
1,521

 
(23
)
 
1,521

 
(23
)
 
$
90,042

 
$
(888
)
 
$
48,322

 
$
(606
)
 
$
138,364

 
$
(1,494
)
 
 
 
 
 
 
 
 
 
 
 
 
Held-to-maturity
 
 
 
 
 
 
 
 
 
 
 
U.S. Agency MBS
$
2,063

 
$
(5
)
 
$
—

 
$
—

 
$
2,063

 
$
(5
)
Obligations of state and political subdivisions
725

 
(2
)
 
—

 
—

 
725

 
(2
)
 
$
2,788

 
$
(7
)
 
$
—

 
$
—

 
$
2,788

 
$
(7
)
2014
 

 
 

 
 

 
 

 
 

 
 

Available-for-sale
 
 
 
 
 
 
 
 
 
 
 
U.S. Agency MBS
$
15,807

 
$
(17
)
 
$
41,479

 
$
(879
)
 
$
57,286

 
$
(896
)
Non-Agency MBS
23,953

 
(220
)
 
6,411

 
(187
)
 
30,364

 
(407
)
U.S. Agency asset-backed securities
718

 
(6
)
 
1,582

 
(36
)
 
2,300

 
(42
)
 
$
40,478

 
$
(243
)
 
$
49,472

 
$
(1,102
)
 
$
89,950

 
$
(1,345
)
 
 
 
 
 
 
 
 
 
 
 
 
Held-to-maturity
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
3,806

 
(18
)
 
—

 
—

 
3,806

 
(18
)
 
$
3,806

 
$
(18
)
 
$
—

 
$
—

 
$
3,806

 
$
(18
)
Investments classified by contractual maturity date
The amortized cost and estimated fair value of investment securities at December 31, 2015, by contractual maturity, are shown below (dollars in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
Available-for-sale
 
Held-to-maturity
 
Amortized
cost
 
Estimated
fair value
 
Amortized
cost
 
Estimated
fair value
Due in one year or less
$
1,667

 
$
1,665

 
$
—

 
$
—

Due after one year through five years
22,899

 
22,904

 
29,868

 
30,188

Due after five years through ten years
48,731

 
48,536

 
88,925

 
91,070

Due after ten years
233,826

 
236,620

 
20,210

 
20,581

Mutual fund
525

 
537

 
—

 
—

Tax credit investments
—

 
—

 
421

 
421

 
$
307,648

 
$
310,262

 
$
139,424

 
$
142,260