XML 51 R36.htm IDEA: XBRL DOCUMENT v3.3.1.900
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and estimated fair value of held to maturity securities and available for sale securities by contractual maturity
The following table shows the amortized cost and the estimated fair value of the held-to-maturity securities and available-for-sale securities at December 31, 2015 and 2014, by contractual maturity within each type:
 
At December 31, 2015
 
At December 31, 2014
(Dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
$
21,047

 
$
134

 
$
—

 
$
21,181

 
$
13,088

 
$
82

 
$
—

 
$
13,170

After 1 year to 5 years
19,943

 
1

 
(64
)
 
19,880

 
41,259

 
388

 
(52
)
 
41,595


40,990

 
135

 
(64
)
 
41,061

 
54,347

 
470

 
(52
)
 
54,765

Total
$
40,990

 
$
135

 
$
(64
)
 
$
41,061

 
$
54,347

 
$
470

 
$
(52
)
 
$
54,765

Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. treasuries:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
$
4,978

 
$
—

 
$
(91
)
 
$
4,887

 
$
4,972

 
$
—

 
$
(127
)
 
$
4,845


4,978

 
—

 
(91
)
 
4,887

 
4,972

 
—

 
(127
)
 
4,845

U.S. government corporations and agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
10,389

 
—

 
(29
)
 
10,360

 
—

 
—

 
—

 
—

After 1 year to 5 years
92,148

 
26

 
(378
)
 
91,796

 
122,328

 
48

 
(532
)
 
121,844


102,537

 
26

 
(407
)
 
102,156

 
122,328

 
48

 
(532
)
 
121,844

State and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
—

 
—

 
—

 
—

 
600

 
2

 
—

 
602

After 1 year to 5 years
17,362

 
80

 
(29
)
 
17,413

 
12,326

 
17

 
(59
)
 
12,284

After 5 years to 10 years
47,969

 
1,188

 
(32
)
 
49,125

 
49,554

 
1,616

 
(77
)
 
51,093

Over 10 years
34,334

 
1,160

 
—

 
35,494

 
37,004

 
1,792

 
(1
)
 
38,795


99,665

 
2,428

 
(61
)
 
102,032

 
99,484

 
3,427

 
(137
)
 
102,774

Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
9,713

 
12

 
(13
)
 
9,712

 
5,066

 
17

 
—

 
5,083

After 5 years to 10 years
60

 
—

 
—

 
60

 
4,856

 
—

 
(32
)
 
4,824

Over 10 years
3,517

 
65

 
—

 
3,582

 
3,661

 
75

 
—

 
3,736


13,290

 
77

 
(13
)
 
13,354

 
13,583

 
92

 
(32
)
 
13,643

Collateralized mortgage obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Over 10 years
3,215

 
—

 
(82
)
 
3,133

 
3,810

 
—

 
(85
)
 
3,725


3,215

 
—

 
(82
)
 
3,133

 
3,810

 
—

 
(85
)
 
3,725

Corporate bonds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
250

 
—

 
—

 
250

 
4,998

 
22

 
—

 
5,020

After 1 year to 5 years
19,446

 
25

 
(158
)
 
19,313

 
29,505

 
88

 
(244
)
 
29,349

After 5 years to 10 years
10,148

 
—

 
(266
)
 
9,882

 
20,442

 
—

 
(371
)
 
20,071

Over 10 years
60,000

 
—

 
(2,770
)
 
57,230

 
—

 
—

 
—

 
—


89,844

 
25

 
(3,194
)
 
86,675

 
54,945

 
110

 
(615
)
 
54,440

Money market mutual funds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
16,726

 
—

 
—

 
16,726

 
11,675

 
—

 
—

 
11,675


16,726

 
—

 
—

 
16,726

 
11,675

 
—

 
—

 
11,675

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
426

 
381

 
—

 
807

 
854

 
483

 
—

 
1,337


426

 
381

 
—

 
807

 
854

 
483

 
—

 
1,337

Total
$
330,681

 
$
2,937

 
$
(3,848
)
 
$
329,770

 
$
311,651

 
$
4,160

 
$
(1,528
)
 
$
314,283
Information Related to Sales of Securities Available-for-Sale
The following table presents information related to sales of securities available-for-sale during the years ended December 31, 2015, 2014 and 2013:
 
For the Years Ended December 31,
(Dollars in thousands)
2015
 
2014
 
2013
Securities available-for-sale:
 
 
 
 
 
Proceeds from sales
$
77,308

 
$
32,967

 
$
76,361

Gross realized gains on sales
1,295

 
635

 
3,396

Gross realized losses on sales
30

 
—

 
7

Tax expense related to net realized gains on sales
443

 
222

 
1,186
Schedule of Securities in Unrealized Loss Position
The following table shows the fair value of securities that were in an unrealized loss position at December 31, 2015 and 2014 by the length of time those securities were in a continuous loss position:
 
Less than
Twelve Months
 
Twelve Months
or Longer
 
Total
(Dollars in thousands)
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
At December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
12,078

 
$
(9
)
 
$
4,953

 
$
(55
)
 
$
17,031

 
$
(64
)
Total
$
12,078

 
$
(9
)
 
$
4,953

 
$
(55
)
 
$
17,031

 
$
(64
)
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
U.S. treasuries
$
—

 
$
—

 
$
4,887

 
$
(91
)
 
$
4,887

 
$
(91
)
U.S. government corporations and agencies
72,157

 
(379
)
 
4,972

 
(28
)
 
77,129

 
(407
)
State and political subdivisions
10,251

 
(49
)
 
1,335

 
(12
)
 
11,586

 
(61
)
Residential mortgage-backed securities
4,751

 
(13
)
 
—

 
—

 
4,751

 
(13
)
Collateralized mortgage obligations
—

 
—

 
3,133

 
(82
)
 
3,133

 
(82
)
Corporate bonds
72,234

 
(2,941
)
 
10,669

 
(253
)
 
82,903

 
(3,194
)
Total
$
159,393

 
$
(3,382
)
 
$
24,996

 
$
(466
)
 
$
184,389

 
$
(3,848
)
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
15,036

 
$
(27
)
 
$
4,987

 
$
(25
)
 
$
20,023

 
$
(52
)
Total
$
15,036

 
$
(27
)
 
$
4,987

 
$
(25
)
 
$
20,023

 
$
(52
)
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
U.S. treasuries
$
—

 
$
—

 
$
4,845

 
$
(127
)
 
$
4,845

 
$
(127
)
U.S. government corporations and agencies
39,607

 
(80
)
 
62,140

 
(452
)
 
101,747

 
(532
)
State and political subdivisions
10,246

 
(31
)
 
9,303

 
(106
)
 
19,549

 
(137
)
Residential mortgage-backed securities
4,824

 
(32
)
 
—

 
—

 
4,824

 
(32
)
Collateralized mortgage obligations
—

 
—

 
3,725

 
(85
)
 
3,725

 
(85
)
Corporate bonds
21,949

 
(328
)
 
15,805

 
(287
)
 
37,754

 
(615
)
Total
$
76,626

 
$
(471
)
 
$
95,818

 
$
(1,057
)
 
$
172,444

 
$
(1,528
)