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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2016
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 March 31, 2016 and December 31, 2015, by contractual maturity within each type:
 
At March 31, 2016
 
At December 31, 2015
(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
$
26,924

 
$
114

 
$
—

 
$
27,038

 
$
21,047

 
$
134

 
$
—

 
$
21,181

After 1 year to 5 years
10,008

 
26

 
(41
)
 
9,993

 
19,943

 
1

 
(64
)
 
19,880


36,932

 
140

 
(41
)
 
37,031

 
40,990

 
135

 
(64
)
 
41,061

Total
$
36,932

 
$
140

 
$
(41
)
 
$
37,031

 
$
40,990

 
$
135

 
$
(64
)
 
$
41,061

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

 
$
—

 
$
—

 
$
—

 
$
4,978

 
$
—

 
$
(91
)
 
$
4,887


—

 
—

 
—

 
—

 
4,978

 
—

 
(91
)
 
4,887

U.S. government corporations and agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
10,278

 
2

 
—

 
10,280

 
10,389

 
—

 
(29
)
 
10,360

After 1 year to 5 years
57,085

 
302

 
—

 
57,387

 
92,148

 
26

 
(378
)
 
91,796


67,363

 
304

 
—

 
67,667

 
102,537

 
26

 
(407
)
 
102,156

State and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
17,125

 
134

 
(12
)
 
17,247

 
17,362

 
80

 
(29
)
 
17,413

After 5 years to 10 years
50,335

 
1,382

 
(17
)
 
51,700

 
47,969

 
1,188

 
(32
)
 
49,125

Over 10 years
32,560

 
1,301

 
—

 
33,861

 
34,334

 
1,160

 
—

 
35,494


100,020

 
2,817

 
(29
)
 
102,808

 
99,665

 
2,428

 
(61
)
 
102,032

Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
4,920

 
6

 
—

 
4,926

 
9,713

 
12

 
(13
)
 
9,712

After 5 years to 10 years
59

 
1

 
—

 
60

 
60

 
—

 
—

 
60

Over 10 years
3,497

 
91

 
—

 
3,588

 
3,517

 
65

 
—

 
3,582


8,476

 
98

 
—

 
8,574

 
13,290

 
77

 
(13
)
 
13,354

Collateralized mortgage obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Over 10 years
3,080

 
—

 
(24
)
 
3,056

 
3,215

 
—

 
(82
)
 
3,133


3,080

 
—

 
(24
)
 
3,056

 
3,215

 
—

 
(82
)
 
3,133

Corporate bonds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
250

 
—

 
—

 
250

 
250

 
—

 
—

 
250

After 1 year to 5 years
18,862

 
142

 
(44
)
 
18,960

 
19,446

 
25

 
(158
)
 
19,313

After 5 years to 10 years
15,122

 
95

 
(63
)
 
15,154

 
10,148

 
—

 
(266
)
 
9,882

Over 10 years
60,000

 
857

 
(3,218
)
 
57,639

 
60,000

 
—

 
(2,770
)
 
57,230


94,234

 
1,094

 
(3,325
)
 
92,003

 
89,844

 
25

 
(3,194
)
 
86,675

Money market mutual funds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
17,563

 
—

 
—

 
17,563

 
16,726

 
—

 
—

 
16,726


17,563

 
—

 
—

 
17,563

 
16,726

 
—

 
—

 
16,726

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
426

 
328

 
—

 
754

 
426

 
381

 
—

 
807


426

 
328

 
—

 
754

 
426

 
381

 
—

 
807

Total
$
291,162

 
$
4,641

 
$
(3,378
)
 
$
292,425

 
$
330,681

 
$
2,937

 
$
(3,848
)
 
$
329,770
Information Related to Sales of Securities Available-for-Sale
The following table presents information related to sales of securities available-for-sale during the three months ended March 31, 2016 and 2015:
 
Three Months Ended March 31,
(Dollars in thousands)
2016
 
2015
Securities available-for-sale:
 
 
 
Proceeds from sales
$
53,181

 
$
271

Gross realized gains on sales
106

 
91

Gross realized losses on sales
62

 
—

Tax expense related to net realized gains on sales
15

 
32
Amount of Securities in Unrealized Loss Position
The following table shows the fair value of securities that were in an unrealized loss position at March 31, 2016 and December 31, 2015 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 March 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
—

 
$
—

 
$
4,965

 
$
(41
)
 
$
4,965

 
$
(41
)
Total
$
—

 
$
—

 
$
4,965

 
$
(41
)
 
$
4,965

 
$
(41
)
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
U.S. government corporations and agencies
$
5,126

 
$
—

 
$
5,000

 
$
—

 
$
10,126

 
$
—

State and political subdivisions
5,669

 
(8
)
 
2,620

 
(21
)
 
8,289

 
(29
)
Collateralized mortgage obligations
—

 
—

 
3,056

 
(24
)
 
3,056

 
(24
)
Corporate bonds
42,051

 
(3,231
)
 
11,251

 
(94
)
 
53,302

 
(3,325
)
Equity securities
4

 
—

 
—

 
—

 
4

 
—

Total
$
52,850

 
$
(3,239
)
 
$
21,927

 
$
(139
)
 
$
74,777

 
$
(3,378
)
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
)