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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Held-to-maturity Securities
Below is an analysis of the amortized cost and fair values of debt securities held to maturity at December 31:.
 
2016
 
2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
$
4,297

 
$
—

 
$
(4
)
 
$
4,293

 
$
4,775

 
$
—

 
$
(7
)
 
$
4,768

Mortgage-Backed Securities – Commercial
34,444

 
—

 
(561
)
 
33,883

 
16,843

 
—

 
(247
)
 
16,596

Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
280,430

 
5

 
(2,527
)
 
277,908

 
315,609

 
30

 
(1,824
)
 
313,815

Mortgage-Backed Securities – Commercial
14,675

 
—

 
(142
)
 
14,533

 
15,187

 
—

 
(178
)
 
15,009

Obligations of States and Political Subdivisions
38,667

 
55

 
(721
)
 
38,001

 
31,910

 
301

 
(58
)
 
32,153

       Total Securities Held to Maturity
$
372,513

 
$
60

 
$
(3,955
)
 
$
368,618

 
$
384,324

 
$
331

 
$
(2,314
)
 
$
382,341
Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale
The amortized cost and estimated fair value of debt securities available for sale at December 31, 2016, by contractual maturity, are shown below:
 
Amortized
Cost
 
Estimated
Fair Value
 
(dollars in thousands)
Due within 1 year
$
3,300

 
$
3,292

Due after 1 but within 5 years
17,397

 
17,343

Due after 5 but within 10 years
27,075

 
27,229

Due after 10 years
41,895

 
35,607

 
89,667

 
83,471

Mortgage-Backed Securities (a)
698,745

 
693,471

Total Debt Securities
$
788,412

 
$
776,942

 
(a)
Mortgage Backed Securities include an amortized cost of $15.1 million and a fair value of $16.6 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $683.6 million and a fair value of $676.9 million
Below is an analysis of the amortized cost and fair values of securities available for sale at December 31:
 
2016
 
2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
$
15,143

 
$
1,481

 
$
(7
)
 
$
16,617

 
$
20,034

 
$
2,071

 
$
(13
)
 
$
22,092

Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
683,601

 
4,557

 
(11,305
)
 
676,853

 
778,476

 
7,983

 
(8,882
)
 
777,577

Mortgage-Backed Securities – Commercial
1

 
—

 
—

 
1

 
28

 
—

 
—

 
28

Other Government-Sponsored Enterprises
16,700

 
—

 
(69
)
 
16,631

 
19,201

 
2

 
(85
)
 
19,118

Obligations of States and Political Subdivisions
27,075

 
195

 
(41
)
 
27,229

 
27,066

 
532

 
—

 
27,598

Corporate Securities
5,903

 
416

 
—

 
6,319

 
1,897

 
422

 
—

 
2,319

Pooled Trust Preferred Collateralized Debt Obligations
39,989

 
427

 
(7,124
)
 
33,292

 
42,239

 
916

 
(7,497
)
 
35,658

Total Debt Securities
788,412

 
7,076

 
(18,546
)
 
776,942

 
888,941

 
11,926

 
(16,477
)
 
884,390

Equities
1,670

 
—

 
—

 
1,670

 
2,170

 
—

 
—

 
2,170

Total Securities Available for Sale
$
790,082

 
$
7,076

 
$
(18,546
)
 
$
778,612

 
$
891,111

 
$
11,926

 
$
(16,477
)
 
$
886,560
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale
(a)
Mortgage Backed Securities include an amortized cost of $15.1 million and a fair value of $16.6 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $683.6 million and a fair value of $676.9 million
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of debt securities held to maturity at December 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.
 
Amortized
Cost
 
Estimated
Fair Value
 
(dollars in thousands)
Due within 1 year
$
—

 
$
—

Due after 1 but within 5 years
2,636

 
2,615

Due after 5 but within 10 years
31,893

 
31,384

Due after 10 years
4,138

 
4,002

 
38,667

 
38,001

Mortgage-Backed Securities (a)
333,846

 
330,617

Total Debt Securities
$
372,513

 
$
368,618

(a)
Mortgage Backed Securities include an amortized cost of $38.7 million and a fair value of $38.2 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $295.1 million and a fair value of $292.4 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.