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Securities (Tables)
6 Months Ended
Jun. 30, 2017
Securities [Abstract]  
Summary of Amortized Cost and Fair Value of Available-for-sale Securities
The amortized cost and fair value of securities at June 30, 2017 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
 
$
236,345
  
$
173
  
$
(460
)
 
$
236,058
 
State and political subdivisions
  
129,872
   
2,833
   
(763
)
  
131,942
 
U.S. government sponsored agency mortgage-backed securities
  
219,961
   
836
   
(2,925
)
  
217,872
 
Total debt securities
  
586,178
   
3,842
   
(4,148
)
  
585,872
 
CRA investment funds
  
25,000
   
90
   
(594
)
  
24,496
 
Total available-for-sale securities
 
$
611,178
  
$
3,932
  
$
(4,742
)
 
$
610,368
 

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
 
Summary of Amortized Cost and Fair Value of Held-to-maturity Securities
The amortized cost and fair value of securities at June 30, 2017 are summarized as follows:

Held-to-Maturity

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
State and political subdivisions
 
$
858
  
$
0
  
$
0
  
$
858
 
Total held-to-maturity securities
 
$
858
  
$
0
  
$
0
  
$
858
 
 
The amortized cost and fair value of securities at December 31, 2016 are summarized as follows:

Held-to-Maturity

(in thousands)
 
Amortized Cost
  
Gross Unrealized Gains
  
Gross Unrealized Losses
  
Fair Value
 
State and political subdivisions
 
$
866
  
$
1
  
$
0
  
$
867
 
Total held-to-maturity securities
 
$
866
  
$
1
  
$
0
  
$
867
 
Amortized Cost and Fair Value of Securities by Contractual Maturity
The amortized cost and fair value of securities at June 30, 2017 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
 
$
69,861
  
$
69,819
  
$
0
  
$
0
 
Due after one through five years
  
162,304
   
163,221
   
858
   
858
 
Due after five through ten years
  
51,203
   
52,067
   
0
   
0
 
Due after ten years
  
82,849
   
82,893
   
0
   
0
 
U.S. government sponsored agency mortgage-backed securities
  
219,961
   
217,872
   
0
   
0
 
Total debt securities
  
586,178
   
585,872
   
858
   
858
 
CRA investment funds
  
25,000
   
24,496
   
0
   
0
 
Total securities
 
$
611,178
  
$
610,368
  
$
858
  
$
858
 
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 June 30, 2017 that are not deemed to be other-than-temporarily impaired.  There were no held-to-maturity securities that were deemed to be impaired as of June 30, 2017.

Available-for-Sale

(in thousands)
 
Amortized Cost
  
Gross Unrealized Losses
  
Fair Value
 
Less Than 12 Months
         
U.S. Treasury and government agencies
 
$
139,137
  
$
(419
)
 
$
138,718
 
State and political subdivisions
  
26,970
   
(742
)
  
26,228
 
U.S. government sponsored agency mortgage-backed securities
  
132,510
   
(2,076
)
  
130,434
 
Total debt securities
  
298,617
   
(3,237
)
  
295,380
 
CRA investment funds
  
17,500
   
(347
)
  
17,153
 
Total <12 months temporarily impaired AFS securities
  
316,117
   
(3,584
)
  
312,533
 
             
12 Months or More
            
U.S. Treasury and government agencies
  
21,647
   
(41
)
  
21,606
 
State and political subdivisions
  
2,383
   
(21
)
  
2,362
 
U.S. government sponsored agency mortgage-backed securities
  
30,644
   
(849
)
  
29,795
 
Total debt securities
  
54,674
   
(911
)
  
53,763
 
CRA investment funds
  
5,000
   
(247
)
  
4,753
 
Total ≥12 months temporarily impaired AFS securities
  
59,674
   
(1,158
)
  
58,516
 
             
Total
            
U.S. Treasury and government agencies
  
160,784
   
(460
)
  
160,324
 
State and political subdivisions
  
29,353
   
(763
)
  
28,590
 
U.S. government sponsored agency mortgage-backed securities
  
163,154
   
(2,925
)
  
160,229
 
Total debt securities
  
353,291
   
(4,148
)
  
349,143
 
CRA investment funds
  
22,500
   
(594
)
  
21,906
 
Total temporarily impaired AFS securities
 
$
375,791
  
$
(4,742
)
 
$
371,049
 

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.  There were no held-to-maturity securities that were deemed to be impaired as of December 31, 2016.

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