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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2017
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:
 
 
 
September 30, 2017
 
 
Amortized
 Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
Agency
 
$
49,969

 
$
433

 
$
(23
)
 
$
50,379

Corporate
 
61,040

 
1,275

 
(140
)
 
62,175

Municipal bonds
 
224,332

 
4,481

 
(386
)
 
228,427

Collateralized mortgage obligation: residential
 
43,254

 
255

 
(105
)
 
43,404

Mortgage-backed securities: residential
 
321,158

 
688

 
(2,287
)
 
319,559

Total investment securities available-for-sale
 
699,753

 
7,132

 
(2,941
)
 
703,944

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
17,476

 
—

 
(50
)
 
17,426

Other
 
1,151

 
—

 
—

 
1,151

Total investment securities held-to-maturity
 
18,627

 
—

 
(50
)
 
18,577

Total investment securities
 
$
718,380

 
$
7,132

 
$
(2,991
)
 
$
722,521


 
 
December 31, 2016
 
 
Amortized
Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
Corporate
 
$
37,475

 
$
372

 
$
(205
)
 
$
37,642

Municipal bonds
 
120,155

 
338

 
(1,690
)
 
118,803

Collateralized mortgage obligation: residential
 
31,536

 
25

 
(173
)
 
31,388

Mortgage-backed securities: residential
 
196,496

 
69

 
(3,435
)
 
193,130

Total investment securities available-for-sale
 
385,662

 
804

 
(5,503
)
 
380,963

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
7,375

 
—

 
(104
)
 
7,271

Other
 
1,190

 
—

 
—

 
1,190

Total investment securities held-to-maturity
 
8,565

 
—

 
(104
)
 
8,461

Total investment securities
 
$
394,227

 
$
804

 
$
(5,607
)
 
$
389,424
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.
 
September 30, 2017
 
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)
Investment securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
1

 
$
1,598

 
$
(23
)
 
—

 
$
—

 
$
—

 
1

 
$
1,598

 
$
(23
)
Corporate
3

 
7,625

 
(134
)
 
1

 
1,014

 
(6
)
 
4

 
8,639

 
(140
)
Municipal bonds
16

 
8,179

 
(112
)
 
24

 
12,488

 
(274
)
 
40

 
20,667

 
(386
)
Collateralized mortgage obligation: residential
5

 
15,197

 
(105
)
 
—

 
—

 
—

 
5

 
15,197

 
(105
)
Mortgage-backed securities: residential
46

 
116,678

 
(1,105
)
 
18

 
61,565

 
(1,182
)
 
64

 
178,243

 
(2,287
)
Total investment securities available-for-sale
71

 
149,277

 
(1,479
)
 
43

 
75,067

 
(1,462
)
 
114

 
224,344

 
(2,941
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
1

 
6,502

 
(50
)
 
—

 
—

 
—

 
1

 
6,502

 
(50
)
Total investment securities held-to-maturity
1

 
6,502

 
(50
)
 
—

 
—

 
—

 
1

 
6,502

 
(50
)
Total investment securities
72

 
$
155,779

 
$
(1,529
)
 
43

 
$
75,067

 
$
(1,462
)
 
115

 
$
230,846

 
$
(2,991
)

 
December 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)
Investment securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate
3

 
$
7,609

 
$
(205
)
 
—

 
$
—

 
$
—

 
3

 
$
7,609

 
$
(205
)
Municipal bonds
152

 
85,750

 
(1,690
)
 
—

 
—

 
—

 
152

 
85,750

 
(1,690
)
Collateralized mortgage obligation: residential
5

 
19,092

 
(173
)
 
—

 
—

 
—

 
5

 
19,092

 
(173
)
Mortgage-backed securities: residential
55

 
149,740

 
(2,916
)
 
4

 
16,039

 
(519
)
 
59

 
165,779

 
(3,435
)
Total investment securities available-for-sale
215

 
262,191

 
(4,984
)
 
4

 
16,039

 
(519
)
 
219

 
278,230

 
(5,503
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
1

 
7,271

 
(104
)
 
—

 
—

 
—

 
1

 
7,271

 
(104
)
Total investment securities held-to-maturity
1

 
7,271

 
(104
)
 
—

 
—

 
—

 
1

 
7,271

 
(104
)
Total investment securities
216

 
$
269,462

 
$
(5,088
)
 
4

 
$
16,039

 
$
(519
)
 
220

 
$
285,501

 
$
(5,607
)
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 at September 30, 2017, 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)
Investment securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
$
—

 
$
—

 
$
—

 
$
—

 
$
16,085

 
$
16,176

 
$
33,884

 
$
34,203

 
$
49,969

 
$
50,379

Corporate
—

 
—

 
—

 
—

 
56,040

 
57,175

 
5,000

 
5,000

 
61,040

 
62,175

Municipal bonds
4,592

 
4,598

 
32,249

 
32,569

 
72,854

 
73,907

 
114,637

 
117,353

 
224,332

 
228,427

Collateralized mortgage obligation: residential
—

 
—

 
—

 
—

 
3,361

 
3,406

 
39,893

 
39,998

 
43,254

 
43,404

Mortgage-backed securities: residential
2,614

 
2,603

 
5,302

 
5,295

 
54,838

 
54,797

 
258,404

 
256,864

 
321,158

 
319,559

Total investment securities available-for-sale
7,206

 
7,201

 
37,551

 
37,864

 
203,178

 
205,461

 
451,818

 
453,418

 
699,753

 
703,944

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
—

 
—

 
—

 
—

 
—

 
—

 
17,476

 
17,426

 
17,476

 
17,426

Other
—

 
—

 
—

 
—

 
—

 
—

 
1,151

 
1,151

 
1,151

 
1,151

Total investment securities held-to-maturity
—

 
—

 
—

 
—

 
—

 
—

 
18,627

 
18,577

 
18,627

 
18,577

Total investment securities
$
7,206

 
$
7,201

 
$
37,551

 
$
37,864

 
$
203,178

 
$
205,461

 
$
470,445

 
$
471,995

 
$
718,380

 
$
722,521