XML 49 R34.htm IDEA: XBRL DOCUMENT v3.6.0.2
Securities (Tables)
12 Months Ended
Dec. 31, 2016
Securities [Abstract]  
Amortized Cost and Fair Value of Securities
The amortized cost and fair value of securities at December 31, 2016 are summarized as follows:

Available-for-Sale

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
U.S. Treasury and government agencies
 
$
223,014
  
$
193
  
$
(743
)
 
$
222,464
 
State and political subdivisions
  
133,351
   
1,957
   
(1,792
)
  
133,516
 
U.S. government sponsored agency mortgage-backed securities
  
227,574
   
1,008
   
(3,526
)
  
225,056
 
Total debt securities
  
583,939
   
3,158
   
(6,061
)
  
581,036
 
CRA investment funds
  
25,000
   
76
   
(718
)
  
24,358
 
Total available-for-sale securities
 
$
608,939
  
$
3,234
  
$
(6,779
)
 
$
605,394
 

Held-to-Maturity

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
U.S. Treasury and government agencies
 
$
0
  
$
0
  
$
0
  
$
0
 
State and political subdivisions
  
866
   
1
   
0
   
867
 
Total held-to-maturity securities
 
$
866
  
$
1
  
$
0
  
$
867
 

The amortized cost and fair value of securities at December 31, 2015 are summarized as follows:

Available-for-Sale

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
U.S. Treasury and government agencies
 
$
240,434
  
$
311
  
$
(1,351
)
 
$
239,394
 
State and political subdivisions
  
125,665
   
3,707
   
(157
)
  
129,215
 
U.S. government sponsored agency mortgage-backed securities
  
202,282
   
1,564
   
(2,270
)
  
201,576
 
Total debt securities
  
568,381
   
5,582
   
(3,778
)
  
570,185
 
CRA investment funds
  
25,000
   
132
   
(381
)
  
24,751
 
Total available-for-sale securities
 
$
593,381
  
$
5,714
  
$
(4,159
)
 
$
594,936
 

Held-to-Maturity

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
U.S. Treasury and government agencies
 
$
480
  
$
0
  
$
(12
)
 
$
468
 
State and political subdivisions
  
1,181
   
2
   
0
   
1,183
 
Total held-to-maturity securities
 
$
1,661
  
$
2
  
$
(12
)
 
$
1,651
 
Amortized Cost and Fair Value of Securities by Contractual Maturity
The amortized cost and fair value of securities at December 31, 2016 by contractual maturity are shown below.  Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

  
Available-for-Sale
  
Held-to-Maturity
 
(in thousands)
 
Amortized Cost
  
Fair Value
  
Amortized Cost
  
Fair Value
 
Due in one year or less
 
$
104,396
  
$
104,383
  
$
0
  
$
0
 
Due after one through five years
  
101,799
   
102,135
   
866
   
867
 
Due after five through ten years
  
60,047
   
60,358
   
0
   
0
 
Due after ten years
  
90,123
   
89,104
   
0
   
0
 
U.S. government sponsored agency mortgage-backed securities
  
227,574
   
225,056
   
0
   
0
 
Total debt securities
  
583,939
   
581,036
   
866
   
867
 
CRA investment funds
  
25,000
   
24,358
   
0
   
0
 
Total securities
 
$
608,939
  
$
605,394
  
$
866
  
$
867
 
Available for Sale Securities and Held-to-Maturity Securities, Continuous Unrealized Loss Position
The following tables provide the amortized cost, gross unrealized losses, and fair market value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31, 2016 that are not deemed to be other-than-temporarily impaired.

Available-for-Sale

(in thousands)
 
Amortized Cost
  
Gross Unrealized Losses
  
Fair Value
 
Less Than 12 Months
         
U.S. Treasury and government agencies
 
$
158,732
  
$
(716
)
 
$
158,016
 
State and political subdivisions
  
53,491
   
(1,780
)
  
51,711
 
U.S. government sponsored agency mortgage-backed securities
  
135,939
   
(2,646
)
  
133,293
 
Total debt securities
  
348,162
   
(5,142
)
  
343,020
 
CRA investment funds
  
17,500
   
(444
)
  
17,056
 
Total <12 months temporarily impaired AFS securities
  
365,662
   
(5,586
)
  
360,076
 
             
12 Months or More
            
U.S. Treasury and government agencies
  
1,880
   
(27
)
  
1,853
 
State and political subdivisions
  
751
   
(12
)
  
739
 
U.S. government sponsored agency mortgage-backed securities
  
31,132
   
(880
)
  
30,252
 
Total debt securities
  
33,763
   
(919
)
  
32,844
 
CRA investment funds
  
5,000
   
(274
)
  
4,726
 
Total ≥12 months temporarily impaired AFS securities
  
38,763
   
(1,193
)
  
37,570
 
             
Total
            
U.S. Treasury and government agencies
  
160,612
   
(743
)
  
159,869
 
State and political subdivisions
  
54,242
   
(1,792
)
  
52,450
 
U.S. government sponsored agency mortgage-backed securities
  
167,071
   
(3,526
)
  
163,545
 
Total debt securities
  
381,925
   
(6,061
)
  
375,864
 
CRA investment funds
  
22,500
   
(718
)
  
21,782
 
Total temporarily impaired AFS securities
 
$
404,425
  
$
(6,779
)
 
$
397,646
 

Held-to-Maturity

(in thousands)
 
Amortized Cost
  
Gross Unrealized Losses
  
Fair Value
 
12 Months or More
         
U.S. Treasury and government agencies
 
$
0
  
$
0
  
$
0
 
Total temporarily impaired HTM securities
 
$
0
  
$
0
  
$
0
 
The following tables provide the amortized cost, gross unrealized losses, and fair market value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31, 2015 that are not deemed to be other-than-temporarily impaired.

Available-for-Sale

(in thousands)
 
Amortized Cost
  
Gross Unrealized Losses
  
Fair Value
 
Less Than 12 Months
         
U.S. Treasury and government agencies
 
$
142,147
  
$
(487
)
 
$
141,660
 
State and political subdivisions
  
11,190
   
(106
)
  
11,084
 
U.S. government sponsored agency mortgage-backed securities
  
92,009
   
(899
)
  
91,110
 
Total debt securities
  
245,346
   
(1,492
)
  
243,854
 
CRA investment funds
  
10,000
   
(183
)
  
9,817
 
Total <12 months temporarily impaired AFS securities
  
255,346
   
(1,675
)
  
253,671
 
             
12 Months or More
            
U.S. Treasury and government agencies
  
54,773
   
(864
)
  
53,909
 
State and political subdivisions
  
3,187
   
(51
)
  
3,136
 
U.S. government sponsored agency mortgage-backed securities
  
49,908
   
(1,371
)
  
48,537
 
Total debt securities
  
107,868
   
(2,286
)
  
105,582
 
CRA investment funds
  
5,000
   
(198
)
  
4,802
 
Total ≥12 months temporarily impaired AFS securities
  
112,868
   
(2,484
)
  
110,384
 
             
Total
            
U.S. Treasury and government agencies
  
196,920
   
(1,351
)
  
195,569
 
State and political subdivisions
  
14,377
   
(157
)
  
14,220
 
U.S. government sponsored agency mortgage-backed securities
  
141,917
   
(2,270
)
  
139,647
 
Total debt securities
  
353,214
   
(3,778
)
  
349,436
 
CRA investment funds
  
15,000
   
(381
)
  
14,619
 
Total temporarily impaired AFS securities
 
$
368,214
  
$
(4,159
)
 
$
364,055
 

Held-to-Maturity

(in thousands)
 
Amortized Cost
  
Gross Unrealized Losses
  
Fair Value
 
12 Months or More
         
U.S. Treasury and government agencies
 
$
480
  
$
(12
)
 
$
468
 
Total temporarily impaired HTM securities
 
$
480
  
$
(12
)
 
$
468