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Investments (Tables)
 3 Months Ended
Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale and Held-to-Maturity Securities Reconciliation
The following table presents the amortized cost, gross unrealized gains and losses and fair value of securities available for sale and held to maturity:
 
 
March 31, 2018
(in thousands)
Amortized Cost
 
Gross
Unrealized Gains
 
Gross
Unrealized Losses
 
Fair Value
Available for sale securities:
 
 
 
 
 
 
 
Obligations of U.S. Government-sponsored enterprises
$
99,890

 
$
—

 
$
(1,698
)
 
$
98,192

Obligations of states and political subdivisions
32,611

 
386

 
(209
)
 
32,788

Agency mortgage-backed securities
524,738

 
360

 
(13,713
)
 
511,385

U.S. Treasury bills
9,955

 
—

 
(48
)
 
9,907

          Total securities available for sale
$
667,194

 
$
746

 
$
(15,668
)
 
$
652,272

Held to maturity securities:
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
12,552

 
$
7

 
$
(241
)
 
$
12,318

Agency mortgage-backed securities
58,027

 
—

 
(1,579
)
 
56,448

          Total securities held to maturity
$
70,579

 
$
7


$
(1,820
)

$
68,766



 
December 31, 2017
(in thousands)
Amortized Cost
 
Gross
Unrealized Gains
 
Gross
Unrealized Losses
 
Fair Value
Available for sale securities:
 
 
 
 
 
 
 
    Obligations of U.S. Government-sponsored enterprises
$
99,878

 
$
6

 
$
(660
)
 
$
99,224

    Obligations of states and political subdivisions
34,181

 
674

 
(213
)
 
34,642

    Agency mortgage-backed securities
513,082

 
727

 
(6,293
)
 
507,516

          Total securities available for sale
$
647,141

 
$
1,407

 
$
(7,166
)
 
$
641,382

Held to maturity securities:
 
 
 
 
 
 
 
   Obligations of states and political subdivisions
$
14,031

 
$
69

 
$
(46
)
 
$
14,054

   Agency mortgage-backed securities
59,718

 
16

 
(330
)
 
59,404

          Total securities held to maturity
$
73,749

 
$
85

 
$
(376
)
 
$
73,458
Schedule of Available-for-sale and Held-to-Maturity Securities Reconciliation
The following table presents the amortized cost, gross unrealized gains and losses and fair value of securities available for sale and held to maturity:
 
 
March 31, 2018
(in thousands)
Amortized Cost
 
Gross
Unrealized Gains
 
Gross
Unrealized Losses
 
Fair Value
Available for sale securities:
 
 
 
 
 
 
 
Obligations of U.S. Government-sponsored enterprises
$
99,890

 
$
—

 
$
(1,698
)
 
$
98,192

Obligations of states and political subdivisions
32,611

 
386

 
(209
)
 
32,788

Agency mortgage-backed securities
524,738

 
360

 
(13,713
)
 
511,385

U.S. Treasury bills
9,955

 
—

 
(48
)
 
9,907

          Total securities available for sale
$
667,194

 
$
746

 
$
(15,668
)
 
$
652,272

Held to maturity securities:
 
 
 
 
 
 
 
Obligations of states and political subdivisions
$
12,552

 
$
7

 
$
(241
)
 
$
12,318

Agency mortgage-backed securities
58,027

 
—

 
(1,579
)
 
56,448

          Total securities held to maturity
$
70,579

 
$
7


$
(1,820
)

$
68,766



 
December 31, 2017
(in thousands)
Amortized Cost
 
Gross
Unrealized Gains
 
Gross
Unrealized Losses
 
Fair Value
Available for sale securities:
 
 
 
 
 
 
 
    Obligations of U.S. Government-sponsored enterprises
$
99,878

 
$
6

 
$
(660
)
 
$
99,224

    Obligations of states and political subdivisions
34,181

 
674

 
(213
)
 
34,642

    Agency mortgage-backed securities
513,082

 
727

 
(6,293
)
 
507,516

          Total securities available for sale
$
647,141

 
$
1,407

 
$
(7,166
)
 
$
641,382

Held to maturity securities:
 
 
 
 
 
 
 
   Obligations of states and political subdivisions
$
14,031

 
$
69

 
$
(46
)
 
$
14,054

   Agency mortgage-backed securities
59,718

 
16

 
(330
)
 
59,404

          Total securities held to maturity
$
73,749

 
$
85

 
$
(376
)
 
$
73,458
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of debt securities at March 31, 2018, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The weighted average life of the mortgage-backed securities is approximately 5 years.
 
 
Available for sale
 
Held to maturity
(in thousands)
Amortized Cost
 
Estimated Fair Value
 
Amortized Cost
 
Estimated Fair Value
Due in one year or less
$
2,404

 
$
2,419

 
$
—

 
$
—

Due after one year through five years
120,488

 
118,875

 
865

 
858

Due after five years through ten years
14,514

 
14,647

 
10,820

 
10,613

Due after ten years
5,050

 
4,946

 
867

 
847

Agency mortgage-backed securities
524,738

 
511,385

 
58,027

 
56,448

 
$
667,194

 
$
652,272


$
70,579


$
68,766
Schedule of Unrealized Loss on Investments
The following table represents a summary of investment securities that had an unrealized loss:
 
 
March 31, 2018
Less than 12 months
 
12 months or more
 
Total
(in thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Obligations of U.S. Government-sponsored enterprises
$
98,192

 
$
1,698

 
$
—

 
$
—

 
$
98,192

 
$
1,698

Obligations of states and political subdivisions
23,766

 
423

 
361

 
27

 
24,127

 
450

Agency mortgage-backed securities
408,153

 
10,017

 
121,046

 
5,275

 
529,199

 
15,292

U.S. Treasury bills
9,907

 
48

 
—

 
—

 
9,907

 
48

 
$
540,018

 
$
12,186


$
121,407


$
5,302


$
661,425


$
17,488

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
Less than 12 months
 
12 months or more
 
Total
(in thousands)
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Obligations of U.S. Government-sponsored enterprises
$
89,309

 
$
660

 
$
—

 
$
—

 
$
89,309

 
$
660

Obligations of states and political subdivisions
13,951

 
259

 
—

 
—

 
13,951

 
259

Agency mortgage-backed securities
469,655

 
6,034

 
12,229

 
589

 
481,884

 
6,623

 
$
572,915

 
$
6,953


$
12,229


$
589


$
585,144


$
7,542