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Investments, Debt and Equity Securities (Tables)
 12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and estimated fair value of investment securities [Table Text Block]
The following table sets forth certain information regarding the amortized cost and fair values of our investment securities available for sale and held to maturity.
 
 
December 31, 2016
(in thousands)
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair
value

 
 
 
 
 
 
 
AVAILABLE FOR SALE
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
$
181,158

 
$
31

 
$
(4,115
)
 
$
177,074

Commercial
25,896

 
13

 
(373
)
 
25,536

Municipal bonds
473,153

 
1,333

 
(6,813
)
 
467,673

Collateralized mortgage obligations:
 
 
 
 
 
 

Residential
194,982

 
32

 
(3,813
)
 
191,201

Commercial
71,870

 
29

 
(1,135
)
 
70,764

Corporate debt securities
52,045

 
110

 
(1,033
)
 
51,122

U.S. Treasury securities
10,882

 
—

 
(262
)
 
10,620

 
$
1,009,986

 
$
1,548

 
$
(17,544
)
 
$
993,990

 
 
 
 
 
 
 
 
HELD TO MATURITY
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
$
13,844

 
$
71

 
$
(90
)
 
$
13,825

Commercial
16,303

 
70

 
(64
)
 
16,309

Municipal bonds
19,612

 
99

 
(459
)
 
19,252

Corporate debt securities
102

 
—

 
—

 
102

 
$
49,861

 
$
240

 
$
(613
)
 
$
49,488


 
At December 31, 2015
(in thousands)
Amortized
cost
 
Gross
unrealized
gains
 
Gross
unrealized
losses
 
Fair
value
 
 
 
 
 
 
 
 
AVAILABLE FOR SALE
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
$
69,342

 
$
19

 
$
(1,260
)
 
$
68,101

Commercial
18,142

 
14

 
(305
)
 
17,851

Municipal bonds
168,722

 
3,460

 
(313
)
 
171,869

Collateralized mortgage obligations:
 
 
 
 
 
 

Residential
86,167

 
32

 
(1,702
)
 
84,497

Commercial
80,190

 
43

 
(1,100
)
 
79,133

Corporate debt securities
81,280

 
125

 
(2,669
)
 
78,736

U.S. Treasury securities
41,047

 
—

 
(83
)
 
40,964

 
$
544,890

 
$
3,693

 
$
(7,432
)
 
$
541,151

 
 
 
 
 
 
 
 
HELD TO MATURITY
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
Residential
$
15,500

 
$
162

 
$
(22
)
 
$
15,640

Commercial
11,965

 
134

 
(63
)
 
12,036

Municipal bonds
3,440

 
170

 
—

 
3,610

Corporate debt securities
108

 
—

 
—

 
108

 
$
31,013

 
$
466

 
$
(85
)
 
$
31,394
Investment securities in an unrealized loss position [Table Text Block]
Investment securities available for sale and held to maturity that were in an unrealized loss position are presented in the following tables based on the length of time the individual securities have been in an unrealized loss position.

 
December 31, 2016
 
Less than 12 months
 
12 months or more
 
Total
(in thousands)
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value

 
 
 
 
 
 
 
 
 
 
 
AVAILABLE FOR SALE
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Residential
$
(3,842
)
 
$
144,240

 
$
(273
)
 
$
9,907

 
$
(4,115
)
 
$
154,147

Commercial
(373
)
 
23,798

 
—

 
—

 
(373
)
 
23,798

Municipal bonds
(6,813
)
 
283,531

 
—

 
—

 
(6,813
)
 
283,531

Collateralized mortgage obligations:
 
 
 
 
 
 
 
 
 
 
 
Residential
(3,052
)
 
175,490

 
(761
)
 
11,422

 
(3,813
)
 
186,912

Commercial
(1,005
)
 
60,926

 
(130
)
 
5,349

 
(1,135
)
 
66,275

Corporate debt securities
(472
)
 
24,447

 
(561
)
 
11,677

 
(1,033
)
 
36,124

U.S. Treasury securities
(262
)
 
10,620

 
—

 
—

 
(262
)
 
10,620

 
$
(15,819
)
 
$
723,052

 
$
(1,725
)
 
$
38,355

 
$
(17,544
)
 
$
761,407

 
 
 
 
 
 
 
 
 
 
 
 
HELD TO MATURITY
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Residential
$
(90
)
 
$
5,481

 
$
—

 
$
—

 
$
(90
)
 
$
5,481

Commercial
(64
)
 
13,156

 
—

 
—

 
(64
)
 
13,156

Municipal bonds
(459
)
 
11,717

 
—

 
—

 
(459
)
 
11,717

 
$
(613
)
 
$
30,354

 
$
—

 
$
—

 
$
(613
)
 
$
30,354


 
At December 31, 2015
 
Less than 12 months
 
12 months or more
 
Total
(in thousands)
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
Gross
unrealized
losses
 
Fair
value
 
 
 
 
 
 
 
 
 
 
 
 
AVAILABLE FOR SALE
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Residential
$
(572
)
 
$
36,477

 
$
(688
)
 
$
21,119

 
$
(1,260
)
 
$
57,596

Commercial
(305
)
 
16,072

 
—

 
—

 
(305
)
 
16,072

Municipal bonds
(211
)
 
21,302

 
(101
)
 
5,839

 
(312
)
 
27,141

Collateralized mortgage obligations:
 
 
 
 
 
 
 
 


 


Residential
(673
)
 
50,490

 
(1,029
)
 
26,028

 
(1,702
)
 
76,518

Commercial
(986
)
 
60,812

 
(115
)
 
4,348

 
(1,101
)
 
65,160

Corporate debt securities
(1,142
)
 
36,953

 
(1,527
)
 
27,405

 
(2,669
)
 
64,358

U.S. Treasury securities
(83
)
 
40,964

 
—

 
—

 
(83
)
 
40,964

 
$
(3,972
)
 
$
263,070

 
$
(3,460
)
 
$
84,739

 
$
(7,432
)
 
$
347,809

 
 
 
 
 
 
 
 
 
 
 
 
HELD TO MATURITY
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
Residential
$
(22
)
 
$
3,738

 
$
—

 
$
—

 
$
(22
)
 
$
3,738

Commercial
(63
)
 
8,749

 
—

 
—

 
(63
)
 
8,749

 
$
(85
)
 
$
12,487

 
$
—

 
$
—

 
$
(85
)
 
$
12,487
Amortized cost and estimated fair value by contractual maturity [Table Text Block]
The following tables present the fair value of investment securities available for sale and held to maturity by contractual maturity along with the associated contractual yield for the periods indicated below. Contractual maturities for mortgage-backed securities and collateralized mortgage obligations as presented exclude the effect of expected prepayments. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations before the underlying mortgages mature. The weighted-average yield is computed using the contractual coupon of each security weighted based on the fair value of each security and does not include adjustments to a tax equivalent basis.

 
December 31, 2016
 
Within one year
 
After one year
through five years
 
After five years
through ten years
 
After
ten years
 
Total
(in thousands)
Fair
Value
 
Weighted
Average
Yield
 
Fair
Value
 
Weighted
Average
Yield
 
Fair
Value
 
Weighted
Average
Yield
 
Fair
Value
 
Weighted
Average
Yield
 
Fair
Value
 
Weighted
Average
Yield
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AVAILABLE FOR SALE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
1

 
0.29
%
 
$
—

 
—
%
 
$
2,122

 
1.59
%
 
$
174,951

 
2.03
%
 
$
177,074

 
2.02
%
Commercial
—

 
—

 
20,951

 
2.13

 
4,585

 
2.06

 
—

 
—

 
25,536

 
2.11

Municipal bonds
3,479

 
3.30

 
20,939

 
2.94

 
52,043

 
2.55

 
391,212

 
3.08

 
467,673

 
3.02

Collateralized mortgage obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
—

 
—

 
—

 
—

 
1,639

 
1.32

 
189,562

 
2.06

 
191,201

 
2.06

Commercial
—

 
—

 
10,860

 
1.84

 
19,273

 
2.74

 
40,631

 
1.91

 
70,764

 
2.12

Corporate debt securities
—

 
—

 
10,516

 
2.67

 
21,493

 
3.74

 
19,113

 
3.54

 
51,122

 
3.45

U.S. Treasury securities
999

 
0.64

 
—

 
—

 
9,621

 
1.76

 
—

 
—

 
10,620

 
1.66

Total available for sale
$
4,479

 
2.70
%
 
$
63,266

 
2.43
%
 
$
110,776

 
2.69
%
 
$
815,469

 
2.57
%
 
$
993,990

 
2.57
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
HELD TO MATURITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
—

 
—
%
 
$
—

 
—
%
 
$
—

 
—
%
 
$
13,825

 
3.11
%
 
$
13,825

 
3.11
%
Commercial
—

 
—

 
4,581

 
2.06

 
11,728

 
2.71

 
—

 
—

 
16,309

 
2.53

Municipal bonds
—

 
—

 
—

 
—

 
6,450

 
2.73

 
12,802

 
3.31

 
19,252

 
3.11

Corporate debt securities
—

 
—

 
—

 
—

 
—

 
—

 
102

 
6.00

 
102

 
6.00

Total held to maturity
$
—

 
—
%
 
$
4,581

 
2.06
%
 
$
18,178

 
2.72
%
 
$
26,729

 
3.22
%
 
$
49,488

 
2.93
%
 
 
At December 31, 2015
 
Within one year
 
After one year
through five years
 
After five years
through ten years
 
After
ten years
 
Total
(in thousands)
Fair
Value
 
Weighted
Average
Yield
 
Fair
Value
 
Weighted
Average
Yield
 
Fair
Value
 
Weighted
Average
Yield
 
Fair
Value
 
Weighted
Average
Yield
 
Fair
Value
 
Weighted
Average
Yield
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AVAILABLE FOR SALE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
—

 
—
%
 
$
4

 
0.39
%
 
$
3,176

 
1.63
%
 
$
64,921

 
1.88
%
 
$
68,101

 
1.87
%
Commercial
—

 
—

 
—

 
—

 
17,851

 
2.20

 
—

 
—

 
17,851

 
2.20

Municipal bonds
510

 
2.09

 
8,828

 
3.33

 
31,806

 
3.16

 
130,725

 
3.99

 
171,869

 
3.79

Collateralized mortgage obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
—

 
—

 
—

 
—

 
153

 
0.92

 
84,344

 
1.74

 
84,497

 
1.74

Commercial
—

 
—

 
5,354

 
1.87

 
56,506

 
2.29

 
17,273

 
1.87

 
79,133

 
2.17

Corporate debt securities
—

 
—

 
10,413

 
2.70

 
38,291

 
3.20

 
30,032

 
3.64

 
78,736

 
3.31

U.S. Treasury securities
39,971

 
0.39

 
993

 
0.63

 
—

 
—

 
—

 
—

 
40,964

 
0.40

Total available for sale
$
40,481

 
0.41
%
 
$
25,592

 
2.65
%
 
$
147,783

 
2.69
%
 
$
327,295

 
2.83
%
 
$
541,151

 
2.60
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
HELD TO MATURITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential
$
—

 
—
%
 
$
—

 
—
%
 
$
—

 
—
%
 
$
15,640

 
3.16
%
 
$
15,640

 
3.16
%
Commercial
—

 
—

 
—

 
—

 
12,036

 
2.69

 
—

 
—

 
12,036

 
2.69

Municipal bonds
—

 
—

 
—

 
—

 
2,544

 
3.69

 
1,066

 
5.78

 
3,610

 
4.31

Corporate debt securities
—

 
—

 
—

 
—

 
—

 
—

 
108

 
6.00

 
108

 
6.00

Total held to maturity
$
—

 
—
%
 
$
—

 
—
%
 
$
14,580

 
2.86
%
 
$
16,814

 
3.33
%
 
$
31,394

 
3.11
%
Sales of investment securities available for sale [Table Text Block]
Sales of investment securities available for sale were as follows.
 
 
Years Ended December 31,
(in thousands)
2016
 
2015
 
2014
 
 
 
 
 
 
Proceeds
$
164,430

 
$
112,259

 
$
96,154

Gross gains
2,782

 
2,571

 
2,560

Gross losses
(243
)
 
(165
)
 
(201
)
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]
The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law.

(in thousands)
At December 31,
2016
 
At December 31,
2015
 
 
 
 
Federal Home Loan Bank to secure borrowings
$
103,171

 
$
101,288

Washington and California State to secure public deposits
30,364

 
22,686

Securities pledged to secure derivatives in a liability position
9,359

 
21,385

Other securities pledged
8,123

 
5,088

Total securities pledged as collateral
$
151,017

 
$
150,447