Investment Securities (Tables)

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Unrealized Gain (Loss) on Investments [Table Text Block]

The following tables present information related to the Company’s investment securities at June 30, 2015 and December 31, 2014.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	June 30, 2015
	(in thousands)
Investment securities available-for-sale:
Federal agency obligations	$	30,713	$	304	$	(45	)	$	30,972
Residential mortgage pass-through securities		53,624		1,181		(71	)		54,734
Commercial mortgage pass-through securities		3,012		11		—			3,023
Obligations of U.S. states and political subdivisions		8,194		164		—			8,358
Trust preferred securities		16,087		456		(237	)		16,306
Corporate bonds and notes		105,518		4,386		(66	)		109,838
Asset-backed securities		24,592		103		(13	)		24,682
Certificates of deposit		2,096		27		(8	)		2,115
Equity securities		376		—		(49	)		327
Other securities		13,845		18		(120	)		13,743
Total	$	258,057	$	6,650	$	(609	)	$	264,098
Investment securities held-to-maturity:
U.S. Treasury and agency securities	$	28,367	$	649	$	—		$	29,016
Federal agency obligations		35,146		368		(140	)		35,374
Residential mortgage-backed securities		4,751		2		(28	)		4,725
Commercial mortgage-backed securities		4,188		56		(1	)		4,243
Obligations of U.S. states and political subdivisions		119,130		3,466		(277	)		122,319
Corporate bonds and notes		40,975		684		(131	)		41,528
Total	$	232,557	$	5,225	$	(577	)	$	237,205
Total investment securities	$	490,614	$	11,875	$	(1,186	)	$	501,303

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	December 31, 2014
	(in thousands)
Investment securities available-for-sale:
Federal agency obligations	$	32,650	$	217	$	(50	)	$	32,817
Residential mortgage pass-through securities		58,836		1,531		(11	)		60,356
Commercial mortgage pass-through securities		3,042		4		—			3,046
Obligations of U.S. states and political subdivisions		8,201		205		—			8,406
Trust preferred securities		16,086		489		(269	)		16,306
Corporate bonds and notes		119,838		5,950		(11	)		125,777
Asset-backed securities		27,393		140		(31	)		27,502
Certificates of deposit		2,098		27		(2	)		2,123
Equity securities		376		—		(69	)		307
Other securities		12,941		33		(82	)		12,892
Total	$	281,461	$	8,596	$	(525	)	$	289,532
Investment securities held-to-maturity:
U.S. Treasury and agency securities	$	28,264	$	920	$	—		$	29,184
Federal agency obligations		27,103		322		(28	)		27,397
Residential mortgage-backed securities		5,955		28		—			5,983
Commercial mortgage-backed securities		4,266		50		—			4,316
Obligations of U.S. states and political subdivisions		120,144		4,512		(60	)		124,596
Corporate bonds and notes		38,950		1,026		(7	)		39,969
Total	$	224,682	$	6,858	$	(95	)	$	231,445
Total investment securities	$	506,143	$	15,454	$	(620	)	$	520,977

Investments Classified by Contractual Maturity Date [Table Text Block]

The following table presents information for investment securities at June 30, 2015, based on scheduled maturities. Actual maturities can be expected to differ from scheduled maturities due to prepayment or early call options of the issuer.

	June 30, 2015
	Amortized Cost		Fair Value
	(in thousands)
Investment securities available-for-sale:
Due in one year or less	$	21,828	$	22,070
Due after one year through five years		34,670		36,039
Due after five years through ten years		77,279		80,288
Due after ten years		53,423		53,874
Residential mortgage pass-through securities		53,624		54,734
Commercial mortgage pass-through securities		3,012		3,023
Equity securities		376		327
Other securities		13,845		13,743
Total	$	258,057	$	264,098
Investment securities held-to-maturity:
Due in one year or less	$	4,982	$	4,983
Due after one year through five years		11,202		11,354
Due after five years through ten years		73,367		74,931
Due after ten years		134,067		136,969
Residential mortgage-backed securities		4,751		4,725
Commercial mortgage-backed securities		4,188		4,243
Total	$	232,557	$	237,205
Total investment securities	$	490,614	$	501,296

Schedule of Realized Gain (Loss) [Table Text Block]

Gross gains and losses from the sales, calls and maturities of investment securities for the three-month and six-month periods ended June 30, 2015 and 2014 were as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands)	2015		2014			2015		2014
Proceeds	$	2,734		16,127			12,271		66,738
Gross gains on sales of investment securities		221	$	579		$	726	$	2,011
Gross losses on sales of investment securities		—		(5	)		—		(22	)
Net gains on sales of investment securities	$	221	$	574		$	726	$	1,989
Less: tax provision on net gains		90		179			297		559
Total		131		395			429		1,430

Schedule of Preferred Security and Associated Ratings [Table Text Block]

The following table presents detailed information for each single issuer trust preferred security held by the Company at June 30, 2015, of which all but one has at least one rating below investment grade (in thousands):

Issuer	Amortized Cost		Fair Value		Gross Unrealized Gain (Loss)			Lowest Credit Rating Assigned
Countrywide Capital IV	$	1,771	$	1,804	$	33		BB
Countrywide Capital V		2,747		2,831		84		BB
Countrywide Capital V		250		258		8		BB
Nationsbank Cap Trust III		1,576		1,339		(237	)	BB
Morgan Stanley Cap Trust IV		2,500		2,544		44		BB
Morgan Stanley Cap Trust IV		1,743		1,779		36		BB
Goldman Sachs		1,000		1,161		161		BB
Stifel Financial		4,500		4,590		90		BBB-
Total	$	16,087	$	16,306	$	219

Schedule of Unrealized Loss on Investments [Table Text Block]

The following tables indicate gross unrealized losses not recognized in income and fair value, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position at June 30, 2015 and December 31, 2014:

	June 30, 2015
	Total					Less than 12 Months					12 Months or Longer
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(in thousands)
Investment securities available-for-sale:
Federal agency obligation	$	6,020	$	(45	)	$	5,738	$	(43	)	$	282	$	(2	)
Residential mortgage pass-through securities		14,130		(71	)		13,997		(71	)		133		—
Trust preferred securities		1,339		(237	)		—		—			1,339		(237	)
Corporate bonds and notes		7,915		(66	)		7,915		(66	)		—		—
Asset-backed securities		6,165		(13	)		6,165		(13	)		—		—
Certificates of deposit		214		(8	)		214		(8	)		—		—
Equity securities		327		(49	)		—		—			327		(49	)
Other securities		5,380		(120	)		—		—			5,380		(120	)
Total	$	41,490	$	(609	)	$	34,029	$	(201	)	$	7,461	$	(408	)
Investment securities held-to-maturity:
Federal agency obligation	$	9,640	$	(140	)	$	9,640	$	(140	)	$	—	$	—
Residential mortgage pass-through securities		3,224		(28	)		3,224		(28	)		—		—
Commercial mortgage-backed securities		1,364		(1	)		1,364		(1	)		—		—
Obligations of U.S. states and political subdivisions		22,791		(277	)		22,791		(277	)		—		—
Corporate bonds and notes		5,545		(131	)		5,545		(131	)		—		—
Total	$	42,564	$	(577	)	$	42,564	$	(577	)	$	—	$	—
Total temporarily impaired securities	$	84,054	$	(1,186	)	$	76,593	$	(778	)	$	7,461	$	(408	)

	December 31, 2014
	Total					Less than 12 Months					12 Months or Longer
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(in thousands)
Investment securities available-for-sale:
Federal agency obligation	$	6,755	$	(50	)	$	2,770	$	(9	)	$	3,985	$	(41	)
Residential mortgage pass-through securities		5,694		(11	)		5,694		(11	)		—		—
Trust preferred securities		1,307		(269	)		—		—			1,307		(269	)
Corporate bonds and notes		1,961		(11	)		1,961		(11	)		—		—
Asset-backed securities		9,773		(31	)		9,773		(31	)		—		—
Certificates of deposit		369		(2	)		369		(2	)		—		—
Equity securities		307		(69	)		—		—			307		(69	)
Other securities		5,417		(82	)		1,978		(21	)		3,439		(61	)
Total	$	31,583	$	(525	)	$	22,545	$	(85	)	$	9,038	$	(440	)
Investment securities held-to-maturity:
Federal agency obligation	$	3,228	$	(28	)	$	3,228	$	(28	)	$	—	$	—
Obligations of U.S. states and political subdivisions		8,341		(60	)		1,401		(3	)		6,940		(57	)
Corporate bonds and notes		993		(7	)		993		(7	)		—		—
Total	$	12,562	$	(95	)	$	5,622	$	(38	)	$	6,940	$	(57	)
Total temporarily impaired securities	$	44,145	$	(620	)	$	28,167	$	(123	)	$	15,978	$	(497	)