Investment Securities (Tables)

6 Months Ended

Jun. 30, 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:

June 30, 2016
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available-for-Sale:
Residential mortgage-backed securities-GSE	$	269,169	$	2,497	$	671	$	270,995
Residential mortgage-backed securities-Private	28,567		450		33		28,984
Commercial mortgage-backed securities-GSE	21,779		388		—		22,167
Commercial mortgage-backed securities-Private	17,847		362		128		18,081
Corporate notes	37,378		43		2		37,419
Total available-for-sale	374,740		3,740		834		377,646
Held-to-Maturity:
Residential mortgage-backed securities-GSE	115,395		1,975		13		117,357
Residential mortgage-backed securities-Private	14,363		38		—		14,401
Commercial mortgage-backed securities-Private	10,055		404		—		10,459
Total held-to-maturity	139,813		2,417		13		142,217
Total investment securities	$	514,553	$	6,157	$	847	$	519,863
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
June 30, 2016
Available-for-Sale:
Residential mortgage-backed securities-GSE	$	—	$	—	$	119,845	$	671	$	119,845	$	671
Residential mortgage-backed securities-Private	2,791		28		621		5		3,412		33
Commercial mortgage-backed securities-Private	—		—		7,422		128		7,422		128
Corporate Notes	10,004		2		—		—		10,004		2
Total available-for-sale	12,795		30		127,888		804		140,683		834
Held-to-Maturity:
Residential mortgage-backed securities-GSE	—		—		12,739		13		12,739		13
Total held-to-maturity	—		—		12,739		13		12,739		13
Total	$	12,795	$	30	$	140,627	$	817	$	153,422	$	847
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
Residential mortgage-backed securities-GSE
Due after five years through 10 years	$	1,568	$	1,617	$	—	$	—
Due after ten years	267,601		269,378		115,395		117,357
Residential mortgage-backed securities-Private
Due after ten years	28,567		28,984		14,363		14,401
Commercial mortgage-backed securities-GSE
Due after one year through five years	21,779		22,167		—		—
Commercial mortgage-backed securities-Private
Due after ten years	17,847		18,081		10,055		10,459
Corporate notes
Due in one year or less	30,335		30,354		—		—
Due after one year through five years	7,043		7,065		—		—
Total	$	374,740	$	377,646	$	139,813	$	142,217