Securities (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2015 and 2014 are summarized as follows (in thousands):

December 31, 2015:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available-for-sale:
U.S Treasury Securities	$	-	$	-	$	-	$	-
U.S. Government agency securities		131,499		3		3,309		128,193
Mortgage-backed securities		581,998		5,948		5,030		582,916
State and municipal securities		158,072		7,094		124		165,042
Asset-backed securities		49,598		8		805		48,801
Corporate notes		9,541		589		17		10,113
	$	930,708	$	13,642	$	9,285	$	935,065
Securities held-to-maturity:
State and municipal securities		31,377		257		48		31,586
	$	31,377	$	257	$	48	$	31,586
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 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		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

	Available-for-sale				Held-to-maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	6,133	$	6,170	$	1,072	$	1,074
Due in one year to five years		32,461		34,574		8,643		8,686
Due in five years to ten years		194,439		196,685		12,804		12,920
Due after ten years		66,079		65,919		8,858		8,906
Mortgage-backed securities		581,998		582,916		-		-
Asset-backed securities		49,598		48,801		-		-
	$	930,708	$	935,065	$	31,377	$	31,586

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

At December 31, 2015 and 2014, included in securities were the following investments with unrealized losses. The information below classifies these investments according to the term of the unrealized loss 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 December 31, 2015:
U.S. Treasury securities	$	-	$	-	$	-	$	-	$	-	$	-
U.S. government agency securities		61,903		1,702		65,538		1,607		127,441		3,309
Mortgage-backed securities		338,230		2,789		103,003		2,241		441,233		5,030
State and municipal securities		6,509		38		6,135		134		12,644		172
Asset-backed securities		41,466		798		3,539		7		45,005		805
Corporate notes		2,554		17		-		-		2,554		17
Total temporarily-impaired securities	$	450,662	$	5,344	$	178,215	$	3,989	$	628,877	$	9,333
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