Securities (Tables)

3 Months Ended

Mar. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and estimated fair value of investments in debt securities

The amortized cost and fair value of investments in debt and equity securities at March 31, 2017 and December 31, 2016 were as follows (dollars in thousands):

	March 31, 2017
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Securities available for sale:
Federal agencies and GSEs	$	91,940	$	39	$	2,208	$	89,771
Mortgage-backed and CMOs	75,769		473		850		75,392
State and municipal	113,906		2,560		478		115,988
Corporate	9,143		239		9		9,373
Equity securities	1,288		755		—		2,043
Total securities available for sale	$	292,046	$	4,066	$	3,545	$	292,567

	December 31, 2016
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Securities available for sale:
Federal agencies and GSEs	$	106,379	$	62	$	2,387	$	104,054
Mortgage-backed and CMOs	79,917		514		938		79,493
State and municipal	145,757		2,540		782		147,515
Corporate	13,392		123		23		13,492
Equity securities	1,288		660		—		1,948
Total securities available for sale	$	346,733	$	3,899	$	4,130	$	346,502

Cost of restricted stock

The cost of restricted stock at March 31, 2017 and December 31, 2016 was as follows (dollars in thousands):

	March 31, 2017		December 31, 2016
FRB stock	$	3,564	$	3,559
FHLB stock	1,928		2,665
Total restricted stock	$	5,492	$	6,224

Schedule of fair value and gross unrealized losses by investment category and length of time

The following table shows estimated fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2017.  The reference point for determining when securities are in an unrealized loss position is month-end.  Therefore, it is possible that a security's market value exceeded its amortized cost on other days during the past twelve-month period.

Available for sale securities that have been in a continuous unrealized loss position are as follows (dollars in thousands):

	Total				Less than 12 Months				12 Months or More
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Federal agencies and GSEs	$	81,734	$	2,208	$	81,734	$	2,208	$	—	$	—
Mortgage-backed and CMOs	53,331		850		51,745		822		1,586		28
State and municipal	21,665		478		21,665		478		—		—
Corporate	1,558		9		1,558		9		—		—
Total	$	158,288	$	3,545	$	156,702	$	3,517	$	1,586	$	28

The table below shows estimated fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position, at December 31, 2016 (dollars in thousands):

	Total				Less than 12 Months				12 Months or More
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Federal agencies and GSEs	$	89,597	$	2,387	$	89,597	$	2,387	$	—	$	—
Mortgage-backed and CMOs	57,762		938		56,076		911		1,686		27
State and municipal	47,221		782		47,221		782		—		—
Corporate	2,895		23		2,895		23		—		—
Total	$	197,475	$	4,130	$	195,789	$	4,103	$	1,686	$	27