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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and estimated fair value of securities
The amortized cost and estimated fair value of securities were as follows:
 
 
 
March 31, 2016
 
 
Amortized
 Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(in thousands)
Available-for-sale:
 
 

 
 
 
 
 
 
Municipal bonds
 
$
123,484

 
$
2,426

 
$
(28
)
 
$
125,882

Collateralized mortgage obligation
 
23,805

 
70

 
(9
)
 
23,866

Mortgage-backed securities
 
119,939

 
499

 
(475
)
 
119,963

Total available-for-sale
 
267,228

 
2,995

 
(512
)
 
269,711

Held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
8,361

 
22

 
—

 
8,383

Other
 
1,229

 
—

 
—

 
1,229

Total held-to-maturity
 
9,590

 
22

 
—

 
9,612

Total securities
 
$
276,818

 
$
3,017

 
$
(512
)
 
$
279,323


 
 
December 31, 2015
 
 
Amortized
Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(in thousands)
Available-for-sale:
 
 

 
 
 
 
 
 
Municipal bonds
 
$
128,546

 
$
1,796

 
$
(97
)
 
$
130,245

Collateralized mortgage obligation
 
24,722

 
4

 
(183
)
 
24,543

Mortgage-backed securities
 
126,443

 
153

 
(1,111
)
 
125,485

Total available-for-sale
 
279,711

 
1,953

 
(1,391
)
 
$
280,273

Held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
8,400

 
—

 
(70
)
 
8,330

Other
 
1,242

 
—

 
—

 
1,242

Total held-to-maturity
 
9,642

 
—

 
(70
)
 
9,572

Total securities
 
$
289,353

 
$
1,953

 
$
(1,461
)
 
$
289,845


 
 
March 31, 2015
 
 
Amortized
 Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(in thousands)
Available-for-sale:
 
 

 
 

 
 

 
 

Municipal bonds
 
$
103,997

 
$
1,718

 
$
(192
)
 
105,523

Collateralized mortgage obligation
 
11,204

 
84

 
—

 
11,288

Mortgage-backed securities
 
163,077

 
1,013

 
(440
)
 
163,650

Total available-for-sale
 
$
278,278

 
$
2,815

 
$
(632
)
 
$
280,461
Schedule of number, fair value and gross unrealized holding losses of the Company's investment securities by investment category and length of time that the securities have been in a continuous loss position
The table below shows the number, fair value and gross unrealized holding losses of the Company’s investment securities by investment category and length of time that the securities have been in a continuous loss position.
 
March 31, 2016
 
Less than 12 months
 
12 months or Longer
 
Total
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
(dollars in thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal bonds
12

 
$
6,251

 
$
(28
)
 
—

 
$
—

 
$
—

 
12

 
$
6,251

 
$
(28
)
Collateralized mortgage obligation
2

 
9,318

 
(9
)
 
—

 
—

 
—

 
2

 
9,318

 
(9
)
Mortgage-backed securities
10

 
23,289

 
(140
)
 
7

 
22,444

 
(335
)
 
17

 
45,733

 
(475
)
Total securities available-for-sale
24

 
$
38,858

 
$
(177
)
 
7

 
$
22,444

 
$
(335
)
 
31

 
$
61,302

 
$
(512
)

 
December 31, 2015
 
Less than 12 months
 
12 months or Longer
 
Total
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
(dollars in thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal bonds
32

 
$
15,516

 
$
(61
)
 
6

 
$
3,349

 
$
(36
)
 
38

 
$
18,865

 
$
(97
)
Collateralized mortgage obligation

5

 
22,771

 
(183
)
 
—

 
—

 
—

 
5

 
22,771

 
(183
)
Mortgage-backed securities
34

 
83,488

 
(679
)
 
3

 
12,935

 
(432
)
 
37

 
96,423

 
(1,111
)
Total securities available-for-sale
71

 
121,775

 
(923
)
 
9

 
16,284

 
(468
)
 
80

 
138,059

 
(1,391
)
Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
1

 
8,330

 
(70
)
 
—

 
—

 
—

 
1

 
8,330

 
(70
)
Total securities held-to-maturity
1

 
8,330

 
(70
)
 
—

 
—

 
—

 
1

 
8,330

 
(70
)
Total securities
72

 
$
130,105

 
$
(993
)
 
9

 
$
16,284

 
$
(468
)
 
81

 
$
146,389

 
$
(1,461
)
 
March 31, 2015
 
Less than 12 months
 
12 months or Longer
 
Total
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
(dollars in thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal bonds
48

 
$
20,818

 
$
(179
)
 
3

 
$
1,073

 
$
(13
)
 
51

 
$
21,891

 
$
(192
)
Collateralized mortgage obligation
1

 
4,622

 
—

 
—

 
—

 
—

 
1

 
4,622

 
—

Mortgage-backed securities
9

 
17,235

 
(66
)
 
3

 
15,111

 
(374
)
 
12

 
32,346

 
(440
)
Total securities available-for-sale
58

 
$
42,675

 
$
(245
)
 
6

 
$
16,184

 
$
(387
)
 
64

 
$
58,859

 
$
(632
)
Schedule of amortized cost and estimated fair value of investment securities available for sale by contractual maturity
The amortized cost and estimated fair value of investment securities available for sale at March 31, 2016, by contractual maturity are shown in the table below.

 
One Year
or Less
 
More than One
Year to Five Years
 
More than Five Years
to Ten Years
 
More than
Ten Years
 
Total
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
(dollars in thousands)
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal bonds
$
1,422

 
$
1,423

 
$
27,576

 
$
27,886

 
$
43,199

 
$
44,398

 
$
51,287

 
$
52,175

 
$
123,484

 
$
125,882

Collateralized mortgage obligation

—

 
—

 
—

 
—

 
—

 
—

 
23,805

 
23,866

 
23,805

 
23,866

Mortgage-backed securities
—

 
—

 
—

 
—

 
29,014

 
29,196

 
90,925

 
90,767

 
119,939

 
119,963

Total securities available-for-sale
1,422

 
1,423

 
27,576

 
27,886

 
72,213

 
73,594

 
166,017

 
166,808

 
267,228

 
269,711

Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
—

 
—

 
—

 
—

 
—

 
—

 
8,361

 
8,383

 
8,361

 
8,383

Other
—

 
—

 
—

 
—

 
—

 
—

 
1,229

 
1,229

 
1,229

 
1,229

Total securities held-to-maturity
—

 
—

 
—

 
—

 
—

 
—

 
9,590

 
9,612

 
9,590

 
9,612

Total securities
$
1,422

 
$
1,423

 
$
27,576

 
$
27,886

 
$
72,213

 
$
73,594

 
$
175,607

 
$
176,420

 
$
276,818

 
$
279,323