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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2018
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, 2018
 
 
Amortized
 Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
U.S. Treasury
 
$
59,659

 
$
13

 
$
(329
)
 
$
59,343

Agency
 
113,628

 
20

 
(877
)
 
112,771

Corporate
 
102,761

 
235

 
(1,402
)
 
101,594

Municipal bonds
 
234,910

 
584

 
(4,293
)
 
231,201

Collateralized mortgage obligation: residential
 
25,897

 
50

 
(741
)
 
25,206

Mortgage-backed securities: residential
 
541,660

 
33

 
(16,931
)
 
524,762

Total investment securities available-for-sale
 
1,078,515

 
935

 
(24,573
)
 
1,054,877

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
45,287

 
22

 
(1,269
)
 
44,040

Other
 
1,098

 
—

 
—

 
1,098

Total investment securities held-to-maturity
 
46,385

 
22

 
(1,269
)
 
45,138

Total investment securities
 
$
1,124,900

 
$
957

 
$
(25,842
)
 
$
1,100,015


 
 
December 31, 2017
 
 
Amortized
Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
Agency
 
$
47,051

 
$
236

 
$
(78
)
 
$
47,209

Corporate
 
78,155

 
1,585

 
(194
)
 
79,546

Municipal bonds
 
228,929

 
3,942

 
(743
)
 
232,128

Collateralized mortgage obligation: residential
 
33,984

 
132

 
(335
)
 
33,781

Mortgage-backed securities: residential
 
398,664

 
266

 
(4,165
)
 
394,765

Total investment securities available-for-sale
 
786,783

 
6,161

 
(5,515
)
 
787,429

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
17,153

 
—

 
(209
)
 
16,944

Other
 
1,138

 
—

 
—

 
1,138

Total investment securities held-to-maturity
 
18,291

 
—

 
(209
)
 
18,082

Total investment securities
 
$
805,074

 
$
6,161

 
$
(5,724
)
 
$
805,511
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, 2018
 
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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
5

 
$
39,925

 
$
(329
)
 
—

 
$
—

 
$
—

 
5

 
$
39,925

 
$
(329
)
Agency
28

 
90,499

 
(859
)
 
1

 
1,121

 
(18
)
 
29

 
91,620

 
(877
)
Corporate
17

 
61,221

 
(1,076
)
 
4

 
8,942

 
(326
)
 
21

 
70,163

 
(1,402
)
Municipal bonds
173

 
150,294

 
(2,817
)
 
42

 
22,161

 
(1,476
)
 
215

 
172,455

 
(4,293
)
Collateralized mortgage obligation: residential
2

 
3,023

 
(54
)
 
7

 
16,537

 
(687
)
 
9

 
19,560

 
(741
)
Mortgage-backed securities: residential
85

 
323,466

 
(7,531
)
 
79

 
195,039

 
(9,400
)
 
164

 
518,505

 
(16,931
)
Total investment securities available-for-sale
310

 
668,428

 
(12,666
)
 
133

 
243,800

 
(11,907
)
 
443

 
912,228

 
(24,573
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
13

 
33,318

 
(949
)
 
1

 
5,849

 
(320
)
 
14

 
39,167

 
(1,269
)
Total investment securities held-to-maturity
13

 
33,318

 
(949
)
 
1

 
5,849

 
(320
)
 
14

 
39,167

 
(1,269
)
Total investment securities
323

 
$
701,746

 
$
(13,615
)
 
134

 
$
249,649

 
$
(12,227
)
 
457

 
$
951,395

 
$
(25,842
)

 
December 31, 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
6

 
$
13,754

 
$
(78
)
 
—

 
$
—

 
$
—

 
6

 
$
13,754

 
$
(78
)
Corporate
4

 
10,079

 
(64
)
 
2

 
6,076

 
(130
)
 
6

 
16,155

 
(194
)
Municipal bonds
103

 
61,313

 
(268
)
 
30

 
15,658

 
(475
)
 
133

 
76,971

 
(743
)
Collateralized mortgage obligation: residential
5

 
13,971

 
(149
)
 
3

 
8,943

 
(186
)
 
8

 
22,914

 
(335
)
Mortgage-backed securities: residential
66

 
220,951

 
(1,600
)
 
41

 
110,062

 
(2,565
)
 
107

 
331,013

 
(4,165
)
Total investment securities available-for-sale
184

 
320,068

 
(2,159
)
 
76

 
140,739

 
(3,356
)
 
260

 
460,807

 
(5,515
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
2

 
10,745

 
(133
)
 
1

 
6,198

 
(76
)
 
3

 
16,943

 
(209
)
Total investment securities held-to-maturity
2

 
10,745

 
(133
)
 
1

 
6,198

 
(76
)
 
3

 
16,943

 
(209
)
Total investment securities
186

 
$
330,813

 
$
(2,292
)
 
77

 
$
146,937

 
$
(3,432
)
 
263

 
$
477,750

 
$
(5,724
)
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, 2018, 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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
—

 
$
—

 
$
10,401

 
$
10,403

 
$
49,258

 
$
48,940

 
$
—

 
$
—

 
$
59,659

 
$
59,343

Agency
10,977

 
10,977

 
12,111

 
12,125

 
68,902

 
68,379

 
21,638

 
21,290

 
113,628

 
112,771

Corporate
—

 
—

 
—

 
—

 
102,761

 
101,594

 
—

 
—

 
102,761

 
101,594

Municipal bonds
3,017

 
3,013

 
31,511

 
31,334

 
70,926

 
69,156

 
129,456

 
127,698

 
234,910

 
231,201

Collateralized mortgage obligation: residential
—

 
—

 
—

 
—

 
872

 
871

 
25,025

 
24,335

 
25,897

 
25,206

Mortgage-backed securities: residential
—

 
—

 
1,793

 
1,727

 
141,006

 
137,770

 
398,861

 
385,265

 
541,660

 
524,762

Total investment securities available-for-sale
13,994

 
13,990

 
55,816

 
55,589

 
433,725

 
426,710

 
574,980

 
558,588

 
1,078,515

 
1,054,877

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

 
—

 
—

 
—

 
933

 
932

 
44,354

 
43,108

 
45,287

 
44,040

Other
—

 
—

 
—

 
—

 
—

 
—

 
1,098

 
1,098

 
1,098

 
1,098

Total investment securities held-to-maturity
—

 
—

 
—

 
—

 
933

 
932

 
45,452

 
44,206

 
46,385

 
45,138

Total investment securities
$
13,994

 
$
13,990

 
$
55,816

 
$
55,589

 
$
434,658

 
$
427,642

 
$
620,432

 
$
602,794

 
$
1,124,900

 
$
1,100,015