Investment Securities (Tables)

3 Months Ended

Mar. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation

The following table summarizes the amortized cost and estimated fair value of investment securities and presents the related gross unrealized gains and losses:

March 31, 2016
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available-for-Sale:
Residential mortgage-backed securities-GSE	$	278,521	$	920	$	2,379	$	277,062
Residential mortgage-backed securities-Private	31,079		399		44		31,434
Commercial mortgage-backed securities-GSE	21,880		242		—		22,122
Commercial mortgage-backed securities-Private	17,858		140		150		17,848
Corporate notes	37,524		21		17		37,528
Total available-for-sale	386,862		1,722		2,590		385,994
Held-to-Maturity:
Residential mortgage-backed securities-GSE	118,194		698		109		118,783
Residential mortgage-backed securities-Private	16,877		—		32		16,845
Commercial mortgage-backed securities-Private	10,056		169		—		10,225
Total held-to-maturity	145,127		867		141		145,853
Total investment securities	$	531,989	$	2,589	$	2,731	$	531,847
December 31, 2015
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available-for-Sale:
Obligations of U.S. government sponsored enterprises	$	2,005	$	3	$	—	$	2,008
Residential mortgage-backed securities-GSE	286,057		339		8,289		278,107
Residential mortgage-backed securities-Private	33,235		578		236		33,577
Commercial mortgage-backed securities-GSE	21,980		—		368		21,612
Commercial mortgage-backed securities-Private	17,869		—		294		17,575
Corporate notes	37,669		—		114		37,555
Total available-for-sale	398,815		920		9,301		390,434
Held-to-Maturity:
Residential mortgage-backed securities-GSE	120,197		—		2,310		117,887
Residential mortgage-backed securities-Private	17,712		—		298		17,414
Commercial mortgage-backed securities-Private	10,058		—		174		9,884
Total held-to-maturity	147,967		—		2,782		145,185
Total investment securities	$	546,782	$	920	$	12,083	$	535,619

Schedule of Available-for-sale Securities, Continuous Unrealized Loss Position

All unrealized losses on investment securities are considered by management to be temporary given the credit quality of these investment securities or the short duration of the unrealized loss, or both.

	Less than 12 Months				12 Months or More				Total
(dollars in thousands)	Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses		Estimated Fair Value		Gross Unrealized Losses
March 31, 2016
Available-for-Sale:
Residential mortgage-backed securities-GSE	$	—	$	—	$	189,610	$	2,379	$	189,610	$	2,379
Residential mortgage-backed securities-Private	2,970		32		621		12		3,591		44
Commercial mortgage-backed securities-GSE	—		—		—		—		—		—
Commercial mortgage-backed securities-Private	7,399		150		—		—		7,399		150
Corporate Notes	10,224		4		9,994		13		20,218		17
Total available-for-sale	20,593		186		200,225		2,404		220,818		2,590
Held-to-Maturity:
Residential mortgage-backed securities-GSE	—		—		13,628		109		13,628		109
Residential mortgage-backed securities-Private	16,845		32		—		—		16,845		32
Total held-to-maturity	16,845		32		13,628		109		30,473		141
Total	$	37,438	$	218	$	213,853	$	2,513	$	251,291	$	2,731
December 31, 2015
Available-for-Sale
Residential mortgage-backed securities-GSE	$	137,998	$	2,560	$	132,148	$	5,729	$	270,146	$	8,289
Residential mortgage-backed securities-Private	26,265		231		636		5		26,901		236
Commercial mortgage-backed securities-GSE	21,612		368		—		—		21,612		368
Commercial mortgage-backed securities-Private	17,575		294		—		—		17,575		294
Corporate notes	30,523		114		—		—		30,523		114
Total available-for-sale	233,973		3,567		132,784		5,734		366,757		9,301
Held-to-Maturity:
Residential mortgage-backed securities-GSE	83,014		1,481		34,872		829		117,886		2,310
Residential mortgage-backed securities-Private	17,414		298		—		—		17,414		298
Commercial mortgage-backed securities-Private	9,884		174		—		—		9,884		174
Total held-to-maturity	110,312		1,953		34,872		829		145,184		2,782
Total	$	344,285	$	5,520	$	167,656	$	6,563	$	511,941	$	12,083

Schedule of Available-for-sale Securities, by Maturity Dates

Mortgage backed securities are grouped based on stated maturity date, but actual maturity will vary based on the actual repayment of the underlying mortgage loans.

	Available-for-Sale				Held-to-Maturity
(dollars in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
U.S. government sponsored agencies
Due in one year or less	$	—	$	—	$	—	$	—
Residential mortgage-backed securities-GSE
Due after five years through 10 years	1,670		1,716		—		—
Due after ten years	276,851		275,346		118,194		118,783
Residential mortgage-backed securities-Private
Due after ten years	31,079		31,434		16,877		16,845
Commercial mortgage-backed securities-GSE
Due after one year through five years	21,880		22,122		—		—
Commercial mortgage-backed securities-Private
Due after ten years	17,858		17,848		10,056		10,225
Corporate notes
Due in one year or less	20,465		20,461		—		—
Due after one year through five years	17,059		17,067		—		—
Total	$	386,862	$	385,994	$	145,127	$	145,853