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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2016 and December 31, 2015, by contractual maturity within each type:
 
At June 30, 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
$
22,879

 
$
47

 
$
—

 
$
22,926

 
$
21,047

 
$
134

 
$
—

 
$
21,181

After 1 year to 5 years
10,006

 
22

 
(8
)
 
10,020

 
19,943

 
1

 
(64
)
 
19,880


32,885

 
69

 
(8
)
 
32,946

 
40,990

 
135

 
(64
)
 
41,061

Total
$
32,885

 
$
69

 
$
(8
)
 
$
32,946

 
$
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
10,067

 
23

 
—

 
10,090

 
10,389

 
—

 
(29
)
 
10,360

After 1 year to 5 years
37,043

 
313

 
—

 
37,356

 
92,148

 
26

 
(378
)
 
91,796


47,110

 
336

 
—

 
47,446

 
102,537

 
26

 
(407
)
 
102,156

State and political subdivisions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
16,818

 
150

 
(8
)
 
16,960

 
17,362

 
80

 
(29
)
 
17,413

After 5 years to 10 years
50,727

 
1,718

 
(11
)
 
52,434

 
47,969

 
1,188

 
(32
)
 
49,125

Over 10 years
28,133

 
1,340

 
—

 
29,473

 
34,334

 
1,160

 
—

 
35,494


95,678

 
3,208

 
(19
)
 
98,867

 
99,665

 
2,428

 
(61
)
 
102,032

Residential mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
After 1 year to 5 years
—

 
—

 
—

 
—

 
9,713

 
12

 
(13
)
 
9,712

After 5 years to 10 years
57

 
1

 
—

 
58

 
60

 
—

 
—

 
60

Over 10 years
3,478

 
99

 
—

 
3,577

 
3,517

 
65

 
—

 
3,582


3,535

 
100

 
—

 
3,635

 
13,290

 
77

 
(13
)
 
13,354

Collateralized mortgage obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Over 10 years
2,930

 
—

 
(2
)
 
2,928

 
3,215

 
—

 
(82
)
 
3,133


2,930

 
—

 
(2
)
 
2,928

 
3,215

 
—

 
(82
)
 
3,133

Corporate bonds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Within 1 year
250

 
—

 
—

 
250

 
250

 
—

 
—

 
250

After 1 year to 5 years
19,032

 
241

 
(4
)
 
19,269

 
19,446

 
25

 
(158
)
 
19,313

After 5 years to 10 years
15,204

 
76

 
(3
)
 
15,277

 
10,148

 
—

 
(266
)
 
9,882

Over 10 years
60,000

 
709

 
(2,060
)
 
58,649

 
60,000

 
—

 
(2,770
)
 
57,230


94,486

 
1,026

 
(2,067
)
 
93,445

 
89,844

 
25

 
(3,194
)
 
86,675

Money market mutual funds:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
7,009

 
—

 
—

 
7,009

 
16,726

 
—

 
—

 
16,726


7,009

 
—

 
—

 
7,009

 
16,726

 
—

 
—

 
16,726

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
No stated maturity
413

 
352

 
—

 
765

 
426

 
381

 
—

 
807


413

 
352

 
—

 
765

 
426

 
381

 
—

 
807

Total
$
251,161

 
$
5,022

 
$
(2,088
)
 
$
254,095

 
$
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 six months ended June 30, 2016 and 2015:
 
Six Months Ended June 30,
(Dollars in thousands)
2016
 
2015
Securities available-for-sale:
 
 
 
Proceeds from sales
$
73,991

 
$
37,546

Gross realized gains on sales
539

 
294

Gross realized losses on sales
82

 
22

Tax expense related to net realized gains on sales
160

 
95
Amount of Securities in Unrealized Loss Position
The following table shows the fair value of securities that were in an unrealized loss position at June 30, 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 June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Securities Held-to-Maturity
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
—

 
$
—

 
$
4,997

 
$
(8
)
 
$
4,997

 
$
(8
)
Total
$
—

 
$
—

 
$
4,997

 
$
(8
)
 
$
4,997

 
$
(8
)
Securities Available-for-Sale
 
 
 
 
 
 
 
 
 
 
 
State and political subdivisions
$
1,287

 
$
(2
)
 
$
2,622

 
$
(17
)
 
$
3,909

 
$
(19
)
Collateralized mortgage obligations
—

 
—

 
2,928

 
(2
)
 
2,928

 
(2
)
Corporate bonds
—

 
—

 
43,680

 
(2,067
)
 
43,680

 
(2,067
)
Total
$
1,287

 
$
(2
)
 
$
49,230

 
$
(2,086
)
 
$
50,517

 
$
(2,088
)
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
)