Securities (Tables)

3 Months Ended

Mar. 31, 2015

Securities

Schedule of amortized cost and estimated fair value of securities

March 31, 2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	144,163	$	4,027	$	(143	)	$	148,047
Corporate bonds		35,890		1,287		—			37,177
Trust preferred securities		15,000		544		—			15,544
Total	$	195,053	$	5,858	$	(143	)	$	200,768
Securities held-to-maturity:
Agency mortgage-backed securities	$	14,733	$	42	$	(101	)	$	14,674
Municipals—tax exempt		79,855		945		(1,919	)		78,881
Total	$	94,588	$	987	$	(2,020	)	$	93,555

December 31, 2014	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	150,570	$	3,867	$	(265	)	$	154,172
Corporate bonds		35,927		959		(23	)		36,863
Trust preferred securities		15,000		300		—			15,300
Total	$	201,497	$	5,126	$	(288	)	$	206,335
Securities held-to-maturity:
Agency mortgage-backed securities	$	15,480	$	44	$	(118	)	$	15,406
Municipals—tax exempt		79,882		1,011		(1,346	)		79,547
Total	$	95,362	$	1,055	$	(1,464	)	$	94,953

Schedule of securities with unrealized losses

	Less Than 12 Months					12 Months or More					Total
March 31, 2015	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	25,921	$	(109	)	$	2,449	$	(34	)	$	28,370	$	(143	)
Total	$	25,921	$	(109	)	$	2,449	$	(34	)	$	28,370	$	(143	)
Securities held-to-maturity:
Agency mortgage-backed securities	$	2,226	$	(6	)	$	4,789	$	(95	)	$	7,015	$	(101	)
Municipals—Tax Exempt		26,782		(503	)		23,300		(1,416	)		50,082		(1,919	)
Total	$	29,008	$	(509	)	$	28,089	$	(1,511	)	$	57,097	$	(2,020	)

	Less Than 12 Months					12 Months or More					Total
December 31, 2014	Fair Value		Unrealized (Losses)			Fair Value		Unrealized (Losses)			Fair Value		Unrealized (Losses)
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	12,491	$	(27	)	$	35,614	$	(238	)	$	48,105	$	(265	)
Corporate bonds		—		—			5,148		(23	)		5,148		(23	)
Total	$	12,491	$	(27	)	$	40,762	$	(261	)	$	53,253	$	(288	)
Securities held-to-maturity:
Agency mortgage-backed securities	$	4,869	$	(29	)	$	4,974	$	(89	)	$	9,843	$	(118	)
Municipals—Tax Exempt		1,884		(16	)		42,867		(1,330	)		44,751		(1,346	)
Total	$	6,753	$	(45	)	$	47,841	$	(1,419	)	$	54,594	$	(1,464	)

Schedule of proceeds from sales of securities and the resulting gains and losses

	Three Months Ended March 31,
	2015		2014
	(Dollars in thousands)
Proceeds	$	—	$	50,011
Gross gains		—		720
Gross losses		—		(670	)

Schedule of amortized cost and estimated fair values of securities, by contractual maturity

	Available-for-sale
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Due after one through five years	$	6,353	$	6,717
Due after five through ten years		29,537		30,460
Due after ten years		15,000		15,544
Agency mortgage-backed securities		144,163		148,047
Total	$	195,053	$	200,768

	Held-to-maturity
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Due after five through ten years	$	7,132	$	7,409
Due after ten years		72,723		71,472
Agency mortgage-backed securities		14,733		14,674
Total	$	94,588	$	93,555