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Securities (Tables)
 9 Months Ended
Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]  
Reconciliation of fair value of securities
The following table presents a summary of the amortized cost, gross unrealized holding gains and losses, other-than-temporary impairment recorded in other comprehensive income and fair value of securities available for sale and securities held to maturity for the periods below:
 
September 30, 2014
 
December 31, 2013
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair
Value
 
(Dollars in thousands)
Available for sale securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agency securities
$
41,357

 
$
23

 
$
(93
)
 
$
41,287

 
$
41,331

 
$
3

 
$
(885
)
 
$
40,449

Agency mortgage-backed securities
224,336

 
6,397

 
(1,529
)
 
229,204

 
232,742

 
6,405

 
(4,556
)
 
234,591

Agency collateralized mortgage obligations
66,244

 
285

 
(943
)
 
65,586

 
58,765

 
490

 
(1,102
)
 
58,153

State, county, and municipal securities
5,125

 
128

 
—

 
5,253

 
5,439

 
1

 
(28
)
 
5,412

Single issuer trust preferred securities issued by banks
2,925

 
14

 
(16
)
 
2,923

 
2,960

 
14

 
(22
)
 
2,952

Pooled trust preferred securities issued by banks and insurers (1)
7,961

 
32

 
(2,607
)
 
5,386

 
8,083

 
—

 
(4,242
)
 
3,841

Equity securities
11,173

 
851

 
(208
)
 
11,816

 
10,997

 
762

 
(295
)
 
11,464

Total available for sale securities
$
359,121

 
$
7,730

 
$
(5,396
)
 
$
361,455

 
$
360,317

 
$
7,675

 
$
(11,130
)
 
$
356,862

Held to maturity securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities
$
1,010

 
$
50

 
$
—

 
$
1,060

 
$
1,011

 
$
31

 
$
—

 
$
1,042

Agency mortgage-backed securities
164,531

 
3,511

 
(42
)
 
168,000

 
155,067

 
1,917

 
(1,033
)
 
155,951

Agency collateralized mortgage obligations
199,950

 
1,821

 
(4,494
)
 
197,277

 
187,388

 
824

 
(6,176
)
 
182,036

State, county, and municipal securities
424

 
9

 
—

 
433

 
678

 
7

 
—

 
685

Single issuer trust preferred securities issued by banks
1,500

 
30

 
—

 
1,530

 
1,503

 
23

 
—

 
1,526

Corporate debt securities
5,003

 
162

 
—

 
5,165

 
5,005

 
210

 
—

 
5,215

Total held to maturity securities
$
372,418

 
$
5,583

 
$
(4,536
)
 
$
373,465

 
$
350,652

 
$
3,012

 
$
(7,209
)
 
$
346,455

Total
$
731,539

 
$
13,313

 
$
(9,932
)
 
$
734,920

 
$
710,969

 
$
10,687

 
$
(18,339
)
 
$
703,317


(1)    Gross unrealized gains and gross unrealized losses include $1.1 million and $2.3 million of net non-credit related OTTI at September 30, 2014 and December 31, 2013, respectively.
Schedule of contractual maturities of securities
A schedule of the contractual maturities of securities available for sale and securities held to maturity as of September 30, 2014 is presented below:

 
Available for Sale
 
Held to Maturity
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
(Dollars in thousands)
Due in one year or less
$
118

 
$
124

 
$
199

 
$
204

Due after one year to five years
37,513

 
38,373

 
5,492

 
5,674

Due after five years to ten years
92,385

 
91,581

 
32,731

 
33,115

Due after ten years
217,932

 
219,561

 
333,996

 
334,472

Total debt securities
$
347,948

 
$
349,639

 
$
372,418

 
$
373,465

Equity securities
$
11,173

 
$
11,816

 
$
—

 
$
—

Total
$
359,121

 
$
361,455

 
$
372,418

 
$
373,465
Schedule of gross unrealized losses and fair value of investments
The following tables show the gross unrealized losses and fair value of the Company’s investments in an unrealized loss position, which the Company has not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
 
September 30, 2014
 
 
 
Less than 12 months
 
12 months or longer
 
Total
 
# of holdings
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(Dollars in thousands)
U.S. Government agency securities
25

 
$
33,836

 
$
(93
)
 
$
—

 
$
—

 
$
33,836

 
$
(93
)
Agency mortgage-backed securities
54

 
44,458

 
(60
)
 
45,437

 
(1,511
)
 
89,895

 
(1,571
)
Agency collateralized mortgage obligations
15

 
34,062

 
(345
)
 
104,095

 
(5,092
)
 
138,157

 
(5,437
)
Single issuer trust preferred securities issued by banks and insurers
1

 
1,083

 
(16
)
 
—

 
—

 
1,083

 
(16
)
Pooled trust preferred securities issued by banks and insurers
2

 
—

 
—

 
2,580

 
(1,512
)
 
2,580

 
(1,512
)
Equity securities
17

 
935

 
(26
)
 
4,052

 
(182
)
 
4,987

 
(208
)
Total temporarily impaired securities
114

 
$
114,374

 
$
(540
)
 
$
156,164

 
$
(8,297
)
 
$
270,538

 
$
(8,837
)

 
December 31, 2013
 
 
 
Less than 12 months
 
12 months or longer
 
Total
 
 
 
# of holdings
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
(Dollars in thousands)
U.S. government agency securities
39

 
$
39,950

 
$
(885
)
 
$
—

 
$
—

 
$
39,950

 
$
(885
)
Agency mortgage-backed securities
124

 
202,004

 
(5,217
)
 
5,108

 
(372
)
 
207,112

 
(5,589
)
Agency collateralized mortgage obligations
19

 
183,721

 
(7,278
)
 
—

 
—

 
183,721

 
(7,278
)
State, county, and municipal securities
13

 
3,838

 
(28
)
 
—

 
—

 
3,838

 
(28
)
Single issuer trust preferred securities issued by banks and insurers
2

 
1,341

 
(22
)
 
—

 
—

 
1,341

 
(22
)
Pooled trust preferred securities issued by banks and insurers
2

 
—

 
—

 
2,300

 
(1,913
)
 
2,300

 
(1,913
)
Equity securities
22

 
2,376

 
(90
)
 
3,520

 
(205
)
 
5,896

 
(295
)
Total temporarily impaired securities
221

 
$
433,230

 
$
(13,520
)
 
$
10,928

 
$
(2,490
)
 
$
444,158

 
$
(16,010
)
Schedule of Other Than Temorary Impairment [Table Text Block]
The following table shows the total OTTI that the Company recorded for the periods indicated:
 
Three Months Ended
 
Nine Months Ended
 
September 30
 
September 30
 
2014
 
2013
 
2014
 
2013
 
(Dollars in thousands)
Gross change in OTTI recorded on certain investments
$
235

 
$
303

 
$
1,264

 
$
674

Portion of OTTI recognized in OCI
(235
)
 
(303
)
 
(1,264
)
 
(674
)
Total credit related OTTI losses recognized in earnings
$
—

 
$
—

 
$
—

 
$
—
Summary of cumulative credit related component of OTTI
The following table shows the cumulative credit related component of OTTI for the periods indicated:
 
Three Months Ended
 
Nine Months Ended
 
September 30
 
September 30
 
2014
 
2013
 
2014
 
2013
 
(Dollars in thousands)
Balance at beginning of period
$
(9,997
)
 
$
(10,847
)
 
$
(9,997
)
 
$
(10,847
)
Add
 
 
 
 
 
 
 
Incurred on securities not previously impaired
—

 
—

 
—

 
—

Incurred on securities previously impaired
—

 
—

 
—

 
—

Less
 
 
 
 
 
 
 
Securities sold during the period
—

 
—

 
—

 
—

Reclassification due to changes in Company’s intent
—

 
—

 
—

 
—

Increases in cash flow expected to be collected
—

 
—

 
—

 
—

Balance at end of period
$
(9,997
)
 
$
(10,847
)
 
$
(9,997
)
 
$
(10,847
)