Securities (Tables)

12 Months Ended

Dec. 31, 2015

Cash and Cash Equivalents [Abstract]

Securities Available for Sale

Securities available-for-sale at December 31, 2015 and 2014 are as follows:

	December 31, 2015								December 31, 2014
	Amortized Cost		Unrealized				Fair Value		Amortized Cost		Unrealized					Fair Value
			Gains		Losses						Gains		Losses
U.S. Gov’t sponsored entities		$141,300		$1,579		$(1,128)		$141,751		$155,482		$2,301	$	(2,219	)		$155,564
State & political subdivisions		165,828		6,234		(243)		171,819		174,600		6,804		(402	)		181,002
Residential & multi-family mortgage		160,316		1,060		(3,394)		157,982		265,678		2,291		(2,805	)		265,164
Corporate notes & bonds		19,794		165		(1,271)		18,688		20,791		139		(1,500	)		19,430
Pooled trust preferred		800		2,613		0		3,413		800		105		0			905
Pooled SBA		51,556		760		(907)		51,409		63,139		1,074		(1,560	)		62,653
Other equity securities		1,020		0		(39)		981		1,020		0		(18	)		1,002
Total		$540,614		$12,411		$(6,982)		$546,043		$681,510		$12,714		$(8,504)			$685,720

Trading Securities

Trading securities at December 31, 2015 and 2014 are as follows:

	2015		2014
Corporate equity securities	$	3,389	$	3,044
Mutual Funds		750		999
Cerfiticates of deposit		253		253
Corporate notes and bonds		130		155
U.S. Government sponsored entities		54		54
Total	$	4,576	$	4,505

Securities with Unrealized Losses Aggregated by Investment Category and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position

Securities with unrealized losses at December 31, 2015 and 2014, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows:

December 31, 2015	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S. Gov’t sponsored entities	$	65,675	$	(640	)	$	31,923	$	(488	)	$	97,598	$	(1,128	)
State & political subdivisions		9,103		(234	)		2,478		(9	)		11,581		(243	)
Residential & multi-family mortgage		69,631		(1,562	)		50,351		(1,832	)		119,982		(3,394	)
Corporate notes & bonds		5,027		(2	)		8,144		(1,269	)		13,171		(1,271	)
Pooled SBA		2,908		(28	)		27,127		(879	)		30,035		(907	)
Other equity securities		0		(0	)		981		(39	)		981		(39	)
	$	152,344	$	(2,466	)	$	121,004	$	(4,516	)	$	273,348	$	(6,982	)

	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
December 31, 2014
U.S. Gov’t sponsored entities	$	26,069	$	(149	)	$	85,016	$	(2,070	)	$	111,085	$	(2,219	)
State & political subdivisions		16,398		(179	)		12,363		(223	)		28,761		(402	)
Residential and multi-family mortgage		70,360		(603	)		99,397		(2,202	)		169,757		(2,805	)
Corporate notes & bonds		5,008		(30	)		7,935		(1,470	)		12,943		(1,500	)
Pooled SBA		0		(0	)		34,608		(1,560	)		34,608		(1,560	)
Other equity securities		0		(0	)		1,002		(18	)		1,002		(18	)
	$	117,835	$	(961	)	$	240,321	$	(7,543	)	$	358,156	$	(8,504	)

Summary of Structured Pooled Trust Preferred Securities

The following table provides detailed information related to the Corporation’s structured pooled trust preferred securities as of December 31, 2015 and for the years ended December 31, 2015, 2014, and 2013:

	As of December 31, 2015						Credit Losses Realized in Earnings
	Adjusted Amortized		Unrealized		Fair		Year Ended December 31,
	Cost		Gain (Loss)		Value		2015		2014		2013
ALESCO Preferred Funding V, Ltd.	$	800	$	370	$	1,170	$	0	$	0	$	0
ALESCO Preferred Funding XII, Ltd.		0		1,021		1,021		0		0		0
ALESCO Preferred Funding XVII, Ltd.		0		588		588		0		0		0
Preferred Term Securities XVI, Ltd.		0		634		634		0		0		0
US Capital Funding VI, Ltd.		0		0		0		0		0		0
Total	$	800	$	2,613	$	3,413	$	0	$	0	$	0

Roll-Forward of Other-Than-Temporary Impairment Amount Related to Credit Losses

A roll-forward of the other-than-temporary impairment amount related to credit losses for the years ended December 31, 2015, 2014 and 2013 is as follows:

	2015		2014		2013
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, beginning of period	$	4,054	$	4,054	$	4,054
Additional credit loss for which other-than-temporary impairment was not previously recognized		0		0		0
Additional credit loss for which other-than-temporary impairment was previously recognized		0		0		0
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, end of period	$	4,054	$	4,054	$	4,054

Schedule of Contractual Maturity of Securities Available for Sale, Excluding Equity Securities

The following is a schedule of the contractual maturity of securities available for sale, excluding equity securities, at December 31, 2015:

	December 31, 2015
	Amortized Cost		Fair Value
1 year or less	$	21,183	$	21,393
1 year – 5 years		192,677		197,124
5 years – 10 years		87,654		88,913
After 10 years		26,208		28,241
		327,722		335,671
Residential and multi-family mortgage		160,316		157,982
Pooled SBA		51,556		51,409
Total debt securities	$	539,594		545,062

Information Pertaining to Security Sales

Information pertaining to security sales is as follows:

Year ended December 31	Proceeds		Gross Gains		Gross Losses
2015	$	105,066	$	1,032	$	366
2014		61,236		606		177
2013		35,633		849		494