Investment Securities (Tables)

6 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Available-for-sale Securities

The following is a summary of the amortized cost and fair value of investment securities available-for-sale and investment securities held-to-maturity at June 30, 2016, December 31, 2015 and June 30, 2015:

	Investment Securities Available-for-Sale
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(In thousands)
June 30, 2016
U.S. Treasury securities	$	5,781	$	29	$	—	$	5,810
Government sponsored agencies	156,843		715		536		157,022
State and political subdivisions	12,901		319		—		13,220
Residential mortgage-backed securities	166,582		2,034		—		168,616
Collateralized mortgage obligations	100,433		611		195		100,849
Corporate bonds	9,746		30		64		9,712
Preferred stock and trust preferred securities	2,888		436		1		3,323
Total	$	455,174	$	4,174	$	796	$	458,552
December 31, 2015
U.S. Treasury securities	$	5,773	$	—	$	8	$	5,765
Government sponsored agencies	195,711		78		800		194,989
State and political subdivisions	14,731		395		6		15,120
Residential mortgage-backed securities	189,452		538		2,222		187,768
Collateralized mortgage obligations	133,256		111		1,137		132,230
Corporate bonds	14,825		2		200		14,627
Preferred stock and trust preferred securities	2,888		344		—		3,232
Total	$	556,636	$	1,468	$	4,373	$	553,731
June 30, 2015
U.S. Treasury securities	$	8,270	$	24	$	—	$	8,294
Government sponsored agencies	227,424		683		200		227,907
State and political subdivisions	26,476		503		14		26,965
Residential mortgage-backed securities	213,621		742		1,694		212,669
Collateralized mortgage obligations	167,768		245		981		167,032
Corporate bonds	39,680		76		78		39,678
Preferred stock and trust preferred securities	2,889		272		—		3,161
Total	$	686,128	$	2,545	$	2,967	$	685,706

Held-to-maturity Securities

	Investment Securities Held-to-Maturity
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(In thousands)
June 30, 2016
State and political subdivisions	$	552,328	$	16,123	$	321	$	568,130
Trust preferred securities	500		—		215		285
Total	$	552,828	$	16,123	$	536	$	568,415
December 31, 2015
State and political subdivisions	$	509,471	$	7,446	$	4,512	$	512,405
Trust preferred securities	500		—		200		300
Total	$	509,971	$	7,446	$	4,712	$	512,705
June 30, 2015
State and political subdivisions	$	469,337	$	4,853	$	7,912	$	466,278
Trust preferred securities	500		—		200		300
Total	$	469,837	$	4,853	$	8,112	$	466,578

Amortized cost and fair value of debt securities by contractual maturity

The following is a summary of the amortized cost and fair value of investment securities at June 30, 2016, by maturity, for both available-for-sale and held-to-maturity investment securities. The maturities of residential mortgage-backed securities and collateralized mortgage obligations are based on scheduled principal payments. The maturities of all other debt securities are based on final contractual maturity.

	June 30, 2016
	Amortized Cost		Fair Value
	(In thousands)
Investment Securities Available-for-Sale:
Due in one year or less	$	154,820	$	155,386
Due after one year through five years	257,040		258,856
Due after five years through ten years	37,877		38,374
Due after ten years	4,049		4,112
Preferred stock	1,388		1,824
Total	$	455,174	$	458,552
Investment Securities Held-to-Maturity:
Due in one year or less	$	59,330	$	59,633
Due after one year through five years	275,988		280,491
Due after five years through ten years	130,304		136,879
Due after ten years	87,206		91,412
Total	$	552,828	$	568,415

Summary of continuous unrealized loss position of securities

The following schedule summarizes information for both available-for-sale and held-to-maturity investment securities with gross unrealized losses at June 30, 2016, December 31, 2015 and June 30, 2015, aggregated by category and length of time that individual securities have been in a continuous unrealized loss position.

	Less Than 12 Months				12 Months or More				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(In thousands)
June 30, 2016
Government sponsored agencies	$	14,110	$	19	$	18,787	$	517	$	32,897	$	536
State and political subdivisions	73,532		237		25,713		84		99,245		321
Collateralized mortgage obligations	8,461		13		22,955		182		31,416		195
Corporate bonds	—		—		4,936		64		4,936		64
Preferred stock and trust preferred securities	1,499		1		285		215		1,784		216
Total	$	97,602	$	270	$	72,676	$	1,062	$	170,278	$	1,332
December 31, 2015
U.S. Treasury securities	$	5,765	$	8	$	—	$	—	$	5,765	$	8
Government sponsored agencies	114,640		292		21,681		508		136,321		800
State and political subdivisions	195,285		2,891		68,361		1,627		263,646		4,518
Residential mortgage-backed securities	169,226		2,146		3,435		76		172,661		2,222
Collateralized mortgage obligations	60,459		408		39,382		729		99,841		1,137
Corporate bonds	9,532		200		—		—		9,532		200
Trust preferred securities	—		—		300		200		300		200
Total	$	554,907	$	5,945	$	133,159	$	3,140	$	688,066	$	9,085
June 30, 2015
Government sponsored agencies	$	24,789	$	163	$	14,715	$	37	$	39,504	$	200
State and political subdivisions	258,503		5,433		63,584		2,493		322,087		7,926
Residential mortgage-backed securities	187,858		1,592		3,643		102		191,501		1,694
Collateralized mortgage obligations	49,845		155		48,881		826		98,726		981
Corporate bonds	9,670		49		14,971		29		24,641		78
Trust preferred securities	—		—		300		200		300		200
Total	$	530,665	$	7,392	$	146,094	$	3,687	$	676,759	$	11,079