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SECURITIES (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Available-for-sale Securities and Held-to-maturity Securties |
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 indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 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 | $ | 41,369 |
| $ | 139 |
| $ | (22 | ) | $ | 41,486 |
| | $ | 41,331 |
| $ | 3 |
| $ | (885 | ) | $ | 40,449 |
| Agency mortgage-backed securities | 211,168 |
| 7,203 |
| (693 | ) | 217,678 |
| | 232,742 |
| 6,405 |
| (4,556 | ) | 234,591 |
| Agency collateralized mortgage obligations | 63,059 |
| 599 |
| (623 | ) | 63,035 |
| | 58,765 |
| 490 |
| (1,102 | ) | 58,153 |
| State, county, and municipal securities | 5,106 |
| 117 |
| — |
| 5,223 |
| | 5,439 |
| 1 |
| (28 | ) | 5,412 |
| Single issuer trust preferred securities issued by banks | 2,913 |
| 12 |
| (16 | ) | 2,909 |
| | 2,960 |
| 14 |
| (22 | ) | 2,952 |
| Pooled trust preferred securities issued by banks and insurers (1) | 7,906 |
| 195 |
| (1,780 | ) | 6,321 |
| | 8,083 |
| — |
| (4,242 | ) | 3,841 |
| Equity securities | 11,572 |
| 567 |
| (237 | ) | 11,902 |
| | 10,997 |
| 762 |
| (295 | ) | 11,464 |
| Total available for sale securities | $ | 343,093 |
| $ | 8,832 |
| $ | (3,371 | ) | $ | 348,554 |
| | $ | 360,317 |
| $ | 7,675 |
| $ | (11,130 | ) | $ | 356,862 |
| Held to maturity securities | | | | | | | | | | U.S. treasury securities | $ | 1,010 |
| $ | 63 |
| $ | — |
| $ | 1,073 |
| | $ | 1,011 |
| $ | 31 |
| $ | — |
| $ | 1,042 |
| Agency mortgage-backed securities | 159,522 |
| 5,422 |
| — |
| 164,944 |
| | 155,067 |
| 1,917 |
| (1,033 | ) | 155,951 |
| Agency collateralized mortgage obligations | 207,995 |
| 2,141 |
| (3,478 | ) | 206,658 |
| | 187,388 |
| 824 |
| (6,176 | ) | 182,036 |
| State, county, and municipal securities | 424 |
| 4 |
| — |
| 428 |
| | 678 |
| 7 |
| — |
| 685 |
| Single issuer trust preferred securities issued by banks | 1,500 |
| — |
| (23 | ) | 1,477 |
| | 1,503 |
| 23 |
| — |
| 1,526 |
| Corporate debt securities | 5,002 |
| 117 |
| — |
| 5,119 |
| | 5,005 |
| 210 |
| — |
| 5,215 |
| Total held to maturity securities | $ | 375,453 |
| $ | 7,747 |
| $ | (3,501 | ) | $ | 379,699 |
| | $ | 350,652 |
| $ | 3,012 |
| $ | (7,209 | ) | $ | 346,455 |
| Total | $ | 718,546 |
| $ | 16,579 |
| $ | (6,872 | ) | $ | 728,253 |
| | $ | 710,969 |
| $ | 10,687 |
| $ | (18,339 | ) | $ | 703,317 |
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| | (1) | Gross unrealized gains and gross unrealized losses include $230,000 and $2.3 million of net non-credit related OTTI at December 31, 2014 and December 31, 2013, respectively. |
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| Summary of Realized Gains and Losses on Available-for-sale Securities |
When securities are sold, the adjusted cost of the specific security sold is used to compute the gain or loss on the sale. The following table shows the gross realized gains and losses on available for sale securities for the periods indicated: | | | | | | | | | | | | | | Years Ended December 31 | | 2014 | | 2013 | | 2012 | | (Dollars in thousands) | Gross realized gains on fixed income securities | $ | 121 |
| | $ | 258 |
|
| $ | 5 |
| Gross realized losses on fixed income securities | (21 | ) |
| — |
| | — |
| Gain (loss) on equity investments | $ | 91 |
| | $ | (28 | ) | | $ | 111 |
| Net gains on investments | $ | 191 |
| | $ | 230 |
| | $ | 116 |
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| Schedule of Contractual Maturities of Securities |
A schedule of the contractual maturities of securities available for sale and securities held to maturity as of December 31, 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 | $ | — |
| | $ | — |
| | $ | 200 |
| | $ | 202 |
| Due after one year to five years | 36,094 |
| | 36,819 |
| | 5,454 |
| | 5,586 |
| Due after five to ten years | 90,680 |
| | 91,060 |
| | 31,805 |
| | 32,429 |
| Due after ten years | 204,747 |
| | 208,773 |
| | 337,994 |
| | 341,482 |
| Total debt securities | $ | 331,521 |
| | $ | 336,652 |
| | $ | 375,453 |
| | $ | 379,699 |
| Equity securities | $ | 11,572 |
| | $ | 11,902 |
| | $ | — |
| | $ | — |
| Total | $ | 343,093 |
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| $ | 348,554 |
| | $ | 375,453 |
| | $ | 379,699 |
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| Schedule of Gross Unrealized Losses and Fair Value of Investments |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2014 | | | | Less than 12 months | | 12 months or longer | | Total | Description of securities | # of
holdings | | Fair Value | | Unrealized
Losses | | Fair
Value | | Unrealized
Losses | | Fair Value | | Unrealized
Losses | | | | (Dollars in thousands) | U.S. government agency securities | 22 |
| | $ | 21,950 |
| | $ | (22 | ) | | $ | — |
| | $ | — |
| | $ | 21,950 |
| | $ | (22 | ) | Agency mortgage-backed securities | 17 |
| | 3,471 |
| | (1 | ) | | 42,222 |
| | (692 | ) | | 45,693 |
| | (693 | ) | Agency collateralized mortgage obligations | 14 |
| | 35,083 |
| | (331 | ) | | 94,974 |
| | (3,770 | ) | | 130,057 |
| | (4,101 | ) | Single issuer trust preferred securities issued by banks and insurers | 2 |
| | 2,553 |
| | (39 | ) | | — |
| | — |
| | 2,553 |
| | (39 | ) | Pooled trust preferred securities issued by banks and insurers | 2 |
| | — |
| | — |
| | 2,681 |
| | (1,356 | ) | | 2,681 |
| | (1,356 | ) | Equity securities | 23 |
| | 1,480 |
| | (74 | ) | | 4,072 |
| | (163 | ) | | 5,552 |
| | (237 | ) | Total temporarily impaired securities | 80 |
| | $ | 64,537 |
| | $ | (467 | ) | | $ | 143,949 |
| | $ | (5,981 | ) | | $ | 208,486 |
| | $ | (6,448 | ) | | | | | | | | | | | | | | | | | | December 31, 2013 | | | | Less than 12 months | | 12 months or longer | | Total | Description of securities | # 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 | ) |
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| Schedule of Other Than Temporary Impairment |
The following table shows the total OTTI that the Company recorded for the periods indicated: | | | | | | | | | | | | | | Years Ended December 31 | | 2014 | | 2013 | | 2012 | | (Dollars in thousands) | Gross change in OTTI recorded on certain investments | $ | 2,098 |
| | $ | 588 |
| | $ | 678 |
| Portion of OTTI recognized in OCI | (2,098 | ) | | (588 | ) | | (754 | ) | Total credit related OTTI recognized in earnings | $ | — |
| | $ | — |
| | $ | (76 | ) |
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| Summary of Cumulative Credit Related Component of OTTI |
The following table shows the cumulative credit related component of OTTI for the periods indicated: | | | | | | | | | | | | | | 2014 | | 2013 | | 2012 | | (Dollars in thousands) | Balance at beginning of period | $ | (9,997 | ) | | $ | (10,847 | ) | | $ | (10,771 | ) | Add | | | | | | Incurred on securities not previously impaired | — |
| | — |
| | — |
| Incurred on securities previously impaired | — |
| | — |
| | (76 | ) | Less | | | | | | Securities sold during the period | — |
| | 850 |
| | — |
| Reclassification due to changes in Company’s intent | — |
| | — |
| | — |
| Increases in cash flow expected to be collected | — |
| | — |
| | — |
| Balance at end of period | $ | (9,997 | ) | | $ | (9,997 | ) | | $ | (10,847 | ) |
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