Securities (Tables)

9 Months Ended

Sep. 30, 2015

Securities [Abstract]

Summary of Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities

The amortized cost and fair value of securities available-for-sale and held-to-maturity at September 30, 2015 and December 31, 2014 are summarized as follows (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
September 30, 2015:
Securities available-for-sale:
U.S. Treasury securities	$	9,996	$	3	$	-	$	9,999
U.S. government agency securities		147,268		83		2,548		144,803
Mortgage-backed agency securities		584,066		8,797		1,892		590,971
State and municipal securities		156,469		7,200		175		163,494
Asset-backed securities		51,348		52		509		50,891
Corporate notes and other		11,258		880		1		12,137
	$	960,405	$	17,015	$	5,125	$	972,295
Securities held-to-maturity:
State and municipal securities	$	31,698	$	227	$	75	$	31,850
	$	31,698	$	227	$	75	$	31,850
December 31, 2014:
Securities available-for-sale:
U.S. Treasury securities	$	-	$	-	$	-	$	-
U.S. government agency securities		117,098		12		3,654		113,456
Mortgage-backed agency securities		447,757		10,322		2,240		455,839
State and municipal securities		130,545		8,213		180		138,578
Asset-backed securities		13,089		14		85		13,018
Corporate notes and other		10,196		969		2		11,163
	$	718,685	$	19,530		6,161	$	732,054
Securities held-to-maturity:
State and municipal securities	$	38,676	$	205	$	92	$	38,789
	$	38,676	$	205	$	92	$	38,789

Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

Therefore, these securities are not included in the maturity categories in the following summary (in thousands):

	Available-for-sale				Held-to-maturity
September 30, 2015:	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	17,623	$	17,670	$	962	$	963
Due in one year to five years		38,088		39,631		8,990		9,058
Due in five years to ten years		180,128		184,465		12,863		12,964
Due after ten years		89,152		88,667		8,883		8,865
Mortgage-backed securities		584,066		590,971		-		-
Asset-backed securities		51,348		50,891		-		-
	$	960,405	$	972,295	$	31,698	$	31,850

Classification of Investments According to Term of Unrealized Losses of Less than Twelve Months or Twelve Months or Longer

. The table below classifies these investments according to the term of the unrealized losses of less than twelve months or twelve months or longer (in thousands):

	Investments with an Unrealized Loss of less than 12 months				Investments with an Unrealized Loss of 12 months or longer				Total Investments with an Unrealized Loss
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
At September 30, 2015:
U.S. Treasury securities	$	-	$	-	$	-	$	-	$	-	$	-
U.S. government agency securities		60,704		1,206		65,803		1,342		126,507		2,548
Mortgage-backed securities		108,531		762		105,911		1,130		214,442		1,892
State and municipal securities		11,921		78		5,671		172		17,592		250
Asset-backed securities		30,183		487		7,105		22		37,288		509
Corporate notes		502		1		-		-		502		1
Total temporarily-impaired securities	$	211,841	$	2,534	$	184,490	$	2,666	$	396,331	$	5,200
At December 31, 2014:
U.S. Treasury securities	$	-	$	-	$	-	$	-	$	-	$	-
U.S. government agency securities		3,593		10		103,658		3,644		107,251		3,654
Mortgage-backed securities		91,410		405		102,892		1,835		194,302		2,240
State and municipal securities		3,561		15		16,502		257		20,063		272
Asset-backed securities		-		-		9,289		85		9,289		85
Corporate notes		950		1		154		1		1,104		2
Total temporarily-impaired securities	$	99,514	$	431	$	232,495	$	5,822	$	332,009	$	6,253