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Investment Securities (Notes)
6 Months Ended
Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Investment Securities [Text Block]
Securities

The following tables show the amortized cost, gross unrealized gains and losses and fair value of investment securities, by investment security type as of June 30, 2015 and December 31, 2014.  
 
June 30, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
(Losses)
 
Fair
Value
Securities available for sale:
 
 
 
 
 
 
 
U.S. government agencies and corporations
$
2,565

 
$
185

 
$

 
$
2,750

State and political subdivisions
54,710

 
924

 
(591
)
 
55,043

Collateralized mortgage obligations (1)
116,901

 
815

 
(1,215
)
 
116,501

Mortgage-backed securities (1)
59,507

 
635

 
(405
)
 
59,737

Trust preferred security
1,768

 

 
(728
)
 
1,040

Corporate notes and equity securities
10,162

 
48

 
(80
)
 
10,130

 
$
245,613

 
$
2,607

 
$
(3,019
)
 
$
245,201

 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
State and political subdivisions
$
51,302

 
$
15

 
$
(869
)
 
$
50,448

 
 

 
 

 
 

 
 

 
December 31, 2014
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
(Losses)
 
Fair
Value
Securities available for sale:
 
 
 
 
 
 
 
U.S. government agencies and corporations
$
12,626

 
$
204

 
$
(10
)
 
$
12,820

State and political subdivisions
51,234

 
1,286

 
(161
)
 
52,359

Collateralized mortgage obligations (1)
126,430

 
856

 
(1,416
)
 
125,870

Mortgage-backed securities (1)
65,813

 
624

 
(284
)
 
66,153

Trust preferred security
1,763

 

 
(845
)
 
918

Corporate notes and equity securities
14,729

 
66

 
(125
)
 
14,670

 
$
272,595

 
$
3,036

 
$
(2,841
)
 
$
272,790

 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
State and political subdivisions
$
51,343

 
$
344

 
$
(186
)
 
$
51,501

(1)
All collateralized mortgage obligations and mortgage-backed securities consist of residential mortgage pass-through securities guaranteed by GNMA or issued by FNMA and real estate mortgage investment conduits guaranteed by FHLMC or GNMA.

Investment securities with an amortized cost of approximately $80,658 and $4,805 as of June 30, 2015 and December 31, 2014, respectively, were pledged to secure access to the Federal Reserve discount window, for public fund deposits, and for other purposes as required or permitted by law or regulation. The increase in the amount of pledged investment securities at June 30, 2015 compared to December 31, 2014 was primarily due to an increase in public fund deposits. 

The amortized cost and fair value of investment securities available for sale as of June 30, 2015, by contractual maturity, are shown below.  Certain securities have call features that allow the issuer to call the securities prior to maturity.  Expected maturities may differ from contractual maturities for collateralized mortgage obligations and mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Therefore, collateralized mortgage obligations and mortgage-backed securities are not included in the maturity categories within the following maturity summary. Equity securities have no maturity date.
 
June 30, 2015
 
Amortized Cost
 
Fair Value
Due in one year or less
$
1,337

 
$
1,359

Due after one year through five years
18,914

 
19,363

Due after five years through ten years
16,378

 
16,592

Due after ten years
31,092

 
30,239

 
67,721

 
67,553

Collateralized mortgage obligations and mortgage-backed securities
176,408

 
176,238

Equity securities
1,484

 
1,410

 
$
245,613

 
$
245,201

The amortized cost and fair value of investment securities held to maturity as of June 30, 2015, by contractual maturity, are shown below.  Certain securities have call features that allow the issuer to call the securities prior to maturity.  
 
June 30, 2015
 
Amortized Cost
 
Fair Value
Due after one year through five years
$
278

 
$
274

Due after five years through ten years
14,398

 
14,276

Due after ten years
36,626

 
35,898

 
$
51,302

 
$
50,448

The details of the sales of investment securities for the three and six months ended June 30, 2015 and 2014 are summarized in the following table.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Proceeds from sales
$
6,889

 
$

 
$
16,946

 
$
29,238

Gross gains on sales
43

 

 
54

 
716

Gross losses on sales
7

 

 
7

 
210


The following tables show the fair value and gross unrealized losses, aggregated by investment type and length of time that individual securities have been in a continuous loss position, as of June 30, 2015 and December 31, 2014.
 
June 30, 2015
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair
Value
 
Gross
Unrealized
(Losses)
 
Fair
Value
 
Gross
Unrealized
(Losses)
 
Fair
Value
 
Gross
Unrealized
(Losses)
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies and corporations
$

 
$

 
$

 
$

 
$

 
$

State and political subdivisions
27,759

 
(591
)
 

 

 
27,759

 
(591
)
Collateralized mortgage obligations
19,117

 
(151
)
 
45,771

 
(1,064
)
 
64,888

 
(1,215
)
Mortgage-backed securities
21,967

 
(239
)
 
7,842

 
(166
)
 
29,809

 
(405
)
Trust preferred security

 

 
1,040

 
(728
)
 
1,040

 
(728
)
Corporate notes and equity securities
3,039

 
(26
)
 
938

 
(54
)
 
3,977

 
(80
)
 
$
71,882

 
$
(1,007
)
 
$
55,591

 
$
(2,012
)
 
$
127,473

 
$
(3,019
)
 
 

 
 

 
 

 
 

 
 

 
 

Securities held to maturity:
 
 
 
 
 
 
 
 
 
 
 
State and political subdivisions
$
46,975

 
$
(869
)
 
$

 
$

 
$
46,975

 
$
(869
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair
Value
 
Gross
Unrealized
(Losses)
 
Fair
Value
 
Gross
Unrealized
(Losses)
 
Fair
Value
 
Gross
Unrealized
(Losses)
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies and corporations
$
10,039

 
$
(10
)
 
$

 
$

 
$
10,039

 
$
(10
)
State and political subdivisions
6,614

 
(90
)
 
5,887

 
(71
)
 
12,501

 
(161
)
Collateralized mortgage obligations
17,283

 
(87
)
 
53,318

 
(1,329
)
 
70,601

 
(1,416
)
Mortgage-backed securities
15,184

 
(101
)
 
17,126

 
(183
)
 
32,310

 
(284
)
Trust preferred security

 

 
918

 
(845
)
 
918

 
(845
)
Corporate notes and equity securities
4,581

 
(23
)
 
2,881

 
(102
)
 
7,462

 
(125
)
 
$
53,701

 
$
(311
)
 
$
80,130

 
$
(2,530
)
 
$
133,831

 
$
(2,841
)
 
 
 
 
 
 
 
 
 
 
 
 
Securities held to maturity:
 
 
 
 
 
 
 
 
 
 
 
State and political subdivisions
$
13,048

 
$
(186
)
 
$

 
$

 
$
13,048

 
$
(186
)

As of June 30, 2015, the available for sale securities with unrealized losses that have existed for longer than one year included 12 collateralized mortgage obligation securities, two mortgage-backed securities, one trust preferred security and two equity securities.

The Company believes the unrealized losses on investments available for sale and held to maturity as of June 30, 2015, were due to market conditions, rather than reduced estimated cash flows. The Company does not intend to sell these securities, does not anticipate that these securities will be required to be sold before anticipated recovery, and expects full principal and interest to be collected. Therefore, the Company does not consider these investments to have OTTI as of June 30, 2015.