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Investment Securities (Tables)
6 Months Ended
Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-Sale Investment Securities
The portfolio of investment securities consisted of the following (in thousands):

 
 
June 30, 2015
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Available-for-sale:
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
38,192

 
$
1,148

 
$
95

 
$
39,245

GSE mortgage-backed securities
 
93,368

 
2,783

 
407

 
95,744

Collateralized mortgage obligations: residential
 
155,241

 
392

 
1,892

 
153,741

Collateralized mortgage obligations: commercial
 
9,552

 
22

 
65

 
9,509

Mutual funds
 
2,100

 

 
4

 
2,096

 
 
$
298,453

 
$
4,345

 
$
2,463

 
$
300,335

 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Available-for-sale:
 
 
 
 
 
 
 
 
U.S. Government sponsored enterprises
 
$
10,339

 
$

 
$
112

 
$
10,227

Obligations of state and political subdivisions
 
43,079

 
1,555

 
29

 
44,605

GSE mortgage-backed securities
 
106,208

 
3,183

 
288

 
109,103

Collateralized mortgage obligations: residential
 
62,093

 
266

 
1,520

 
60,839

Collateralized mortgage obligations: commercial
 
24,462

 
190

 
107

 
24,545

Other asset-backed securities
 
24,041

 
321

 
19

 
24,343

Collateralized debt obligation
 
266

 
952

 

 
1,218

Mutual funds
 
2,100

 
4

 

 
2,104

 
 
$
272,588

 
$
6,471

 
$
2,075

 
$
276,984

Schedule of Held-to-Maturity Securities
 
 
June 30, 2015
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Held-to-maturity:
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
44,128

 
$
260

 
$
247

 
$
44,141

GSE mortgage-backed securities
 
61,609

 
868

 
214

 
62,263

Collateralized mortgage obligations: residential
 
11,778

 

 
370

 
11,408

Collateralized mortgage obligations: commercial
 
9,014

 
24

 
1

 
9,037

 
 
$
126,529

 
$
1,152

 
$
832

 
$
126,849

 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Held-to-maturity:
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
45,914

 
$
267

 
$
192

 
$
45,989

GSE mortgage-backed securities
 
67,268

 
1,080

 
164

 
68,184

Collateralized mortgage obligations: residential
 
12,709

 

 
479

 
12,230

Collateralized mortgage obligations: commercial
 
15,310

 
53

 
173

 
15,190

 
 
$
141,201

 
$
1,400

 
$
1,008

 
$
141,593

Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
The amortized cost and fair value of debt securities at June 30, 2015 by contractual maturity are shown in the following table (in thousands) with the exception of other asset-backed securities, mortgage-backed securities, CMOs, and the collateralized debt obligation.   Expected maturities may differ from contractual maturities for mortgage-backed securities and CMOs because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

 
 
Amortized
Cost
 
Fair
Value
Available-for-sale:
 
 
 
 
Due in one year or less
 
$
5,108

 
$
5,174

Due after one year through five years
 
19,960

 
20,666

Due after five years through ten years
 
10,733

 
11,062

Due after ten years
 
2,391

 
2,343

Mortgage-backed securities and collateralized mortgage obligations:
 
 

 
 

Residential
 
248,609

 
249,485

Commercial
 
9,552

 
9,509

Mutual funds
 
2,100

 
2,096

 
 
$
298,453

 
$
300,335

 
 
 
 
 
 
 
Amortized
Cost
 
Fair
Value
Held-to-maturity:
 
 
 
 
Due in one year or less
 
$
111

 
$
111

Due after one year through five years
 
3,294

 
3,322

Due after five years through ten years
 
11,145

 
11,158

Due after ten years
 
29,578

 
29,550

Mortgage-backed securities and collateralized mortgage obligations:
 
 

 
 

Residential
 
73,387

 
73,671

Commercial
 
9,014

 
9,037

 
 
$
126,529

 
$
126,849

Schedule of Investment Securities with Unrealized Losses
Details concerning investment securities with unrealized losses are as follows (in thousands):
 
 
 
June 30, 2015
 
 
Securities with losses
under 12 months
 
Securities with losses
over 12 months
 
Total
 
 
Fair
Value
 
Gross
Unrealized
 Loss
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and  political subdivisions
 
$
4,365

 
$
95

 
$

 
$

 
$
4,365

 
$
95

GSE mortgage-backed  securities
 
32,229

 
344

 
3,877

 
63

 
36,106

 
407

Collateralized mortgage  obligations: residential
 
96,995

 
663

 
33,105

 
1,229

 
130,100

 
1,892

Collateralized mortgage  obligations: commercial
 
1,141

 
1

 
3,158

 
64

 
4,299

 
65

Mututal funds
 
2,100

 
4

 

 

 
2,100

 
4

 
 
$
136,830

 
$
1,107

 
$
40,140

 
$
1,356

 
$
176,970

 
$
2,463

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
Securities with losses
under 12 months
 
Securities with losses
over 12 months
 
Total
 
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored enterprises
 
$
4,973

 
$
32

 
$
5,254

 
$
80

 
$
10,227

 
$
112

Obligations of state and  political subdivisions
 
2,029

 
29

 

 

 
2,029

 
29

GSE mortgage-backed  securities
 
6,668

 
25

 
21,538

 
263

 
28,206

 
288

Collateralized mortgage  obligations: residential
 
9,366

 
53

 
37,997

 
1,467

 
47,363

 
1,520

Collateralized mortgage  obligations: commercial
 

 

 
3,747

 
107

 
3,747

 
107

Other asset-backed securities
 
6,401

 
19

 

 

 
6,401

 
19

 
 
$
29,437

 
$
158

 
$
68,536

 
$
1,917

 
$
97,973

 
$
2,075


 
 
June 30, 2015
 
 
Securities with losses
under 12 months
 
Securities with losses
over 12 months
 
Total
 
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized Loss
 
Fair
Value
 
Gross
Unrealized
Loss
Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
18,319

 
$
220

 
$
1,295

 
$
27

 
$
19,614

 
$
247

GSE mortgage-backed securities
 
12,552

 
13

 
7,553

 
201

 
20,105

 
214

Collateralized mortgage obligations: residential
 

 

 
11,408

 
370

 
11,408

 
370

Collateralized mortgage obligations: commercial
 
1,402

 
1

 

 

 
1,402

 
1

 
 
$
32,273

 
$
234

 
$
20,256

 
$
598

 
$
52,529

 
$
832

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
Securities with losses
under 12 months
 
Securities with losses
over 12 months
 
Total
 
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
11,761

 
$
35

 
$
13,263

 
$
157

 
$
25,024

 
$
192

GSE mortgage-backed securities
 

 

 
8,142

 
164

 
8,142

 
164

Collateralized mortgage obligations: residential
 

 

 
12,230

 
479

 
12,230

 
479

Collateralized mortgage obligations: commercial
 
7,599

 
173

 

 

 
7,599

 
173

 
 
$
19,360

 
$
208

 
$
33,635

 
$
800

 
$
52,995

 
$
1,008