Investment Securities (Tables)

6 Months Ended

Jun. 30, 2016

Investment Securities

Schedule of amortized cost and fair values of the Company's investment securities, all of which are reported as available for sale

	June 30, 2016
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(dollars in thousands)
Obligations of U.S. government agencies	$	58,070	$	366	$	(420)	$	58,016
Mortgage backed securities
U.S. government sponsored entities and agencies	238,974		2,634		(770)		240,838
Non-agency	26,624		252		(127)		26,749
State and municipal securities	104,514		7,030		-		111,544
Asset backed securities	10,088		-		(358)		9,730
Total available for sale securities	$	438,270	$	10,282	$	(1,675)	$	446,877

	December 31, 2015
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(dollars in thousands)
Obligations of U.S. government agencies	$	47,478	$	269	$	(429)	$	47,318
Mortgage backed securities
U.S. government sponsored entities and agencies	246,561		986		(2,312)		245,235
Non-agency	34,645		-		(328)		34,317
State and municipal securities	105,164		3,486		(244)		108,406
Asset backed securities	16,183		-		(556)		15,627
Other investments	100		-		(68)		32
Total available for sale securities	$	450,131	$	4,741	$	(3,937)	$	450,935

Summary of investment securities in an unrealized loss position

	June 30, 2016
	Less Than Twelve Months				Twelve Months or More					Total
	Fair		Unrealized		Fair		Unrealized			Fair		Unrealized
	Value		Loss		Value		Loss			Value		Loss
	(dollars in thousands)
Obligations of U.S. government agencies	$	7,769	$	(35)	$	24,004	$	(385)		$	31,773	$	(420)
Mortgage backed securities
U.S. government sponsored entities and agencies	42,250		(435)		16,248		(335)			58,498		(770)
Non-agency	6,911		(89)		2,679		(38)			9,590		(127)
State and municipal securities	-		-		-		-			-		-
Asset backed securities	-		-		9,729		(358)			9,729		(358)
Total	$	56,930	$	(559)	$	52,660	$	(1,116)		$	109,590	$	(1,675)
	December 31, 2015
	Less Than Twelve Months				Twelve Months or More					Total
	Fair		Unrealized		Fair		Unrealized			Fair		Unrealized
	Value		Loss		Value		Loss			Value		Loss
	(dollars in thousands)
Obligations of U.S. government agencies	$	34,533	$	(429)	$	-	$	-		$	34,533	$	(429)
Mortgage backed securities
U.S. government sponsored entities and agencies	131,570		(1,485)		31,558		(827)			163,128		(2,312)
Non-agency	31,400		(317)		2,917		(11)			34,317		(328)
State and municipal securities	15,660		(243)		235		(1)			15,895		(244)
Asset backed securities	-		-		15,626		(556)			15,626		(556)
Other investments		32		(68)		-	-				32		(68)
Total	$	213,195	$	(2,542)	$	50,336	$		(1,395)	$	263,531	$	(3,937)

Schedule of proceeds from the sales and calls of securities and the associated gains and losses

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
	(dollars in thousands)
Proceeds	$	18,298	$	-	$	75,577	$	46,528
Gross gains	149		-		1,020		679
Gross losses	(62)		-		(382)		(174)

Schedule of amortized cost and fair values maturities of available for sale investment securities

	June 30, 2016				December 31, 2015
	Amortized				Amortized
	Cost		Fair Value		Cost		Fair Value
	(dollars in thousands)
Due one year or less	$	39,563	$	39,648	$	51,049	$	50,978
Due after one year through five years	149,395		150,587		153,444		152,916
Due after five years through ten years	167,301		173,908		182,996		184,870
Due after ten years	82,011		82,734		62,642		62,171
Total	$	438,270	$	446,877	$	450,131	$	450,935

Summary of earnings on both taxable and tax-exempt investment securities

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
	(dollars in thousands)
Taxable earnings on investment securities
Mortgage backed securities	$	1,204	$	738	$	2,458	$	1,591
Obligations of U.S. government agencies	207		191		345		326
State and municipal securities	145		126		332		188
Asset backed securities	26		32		68		80
Earnings on investment securities exempt from federal taxation
State and municipal securities	607		575		1,186		1,144
Total	$	2,189	$	1,662	$	4,389	$	3,329