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Securities Available-for-Sale (Tables)
12 Months Ended
Dec. 31, 2016
Text Block [Abstract]  
Summary of Securities Available-for-Sale
     December 31, 2016      December 31, 2015  
     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses
     Estimated
Fair
Value
     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses
     Estimated
Fair
Value
 
(dollars in thousands)                                                        

U.S. Treasury

   $ 2,000      $      $      $ 2,000      $ 1,999      $      $ 10      $ 1,989  

U.S. Government Sponsored Enterprises

     25,000               48        24,952                              

SBA Backed Securities

     57,899        14        146        57,767        5,983        8        2        5,989  

U.S. Government Agency and Sponsored Enterprises Mortgage-Backed Securities

     243,703        293        671        243,325        232,967        859        300        233,526  

Privately Issued Residential Mortgage-Backed Securities

     1,121        2        14        1,109        1,437        10        13        1,434  

Obligations Issued by States and Political Subdivisions

     165,281               405        164,876        157,838               878        156,960  

Other Debt Securities

     5,100        18        194        4,924        4,600        3        130        4,473  

Equity Securities

     116        228               344        153        99               252  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 500,220      $ 555      $ 1,478      $ 499,297      $ 404,977      $ 979      $ 1,333      $ 404,623  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
Estimated Maturity Distribution of Securities Available-for-Sale

The following table shows the estimated maturity distribution of the Company’s securities available-for-sale at December 31, 2016.

 

     Amortized
Cost
     Fair Value  
(dollars in thousands)              

Within one year

   $ 173,276      $ 173,263  

After one but within five years

     107,005        106,782  

After five but within ten years

     168,698        168,347  

More than ten years

     49,625        49,207  

Nonmaturing

     1,616        1,698  
  

 

 

    

 

 

 

Total

   $ 500,220      $ 499,297  
  

 

 

    

 

 

 
Continuous Unrealized Loss Position for 12 Months or Less and 12 Months and Longer

The following table shows the temporarily impaired securities of the Company’s available-for-sale portfolio at December 31, 2016. This table shows the unrealized market loss of securities that have been in a continuous unrealized loss position for 12 months or less and a continuous loss position for 12 months and longer. There are 49 and 15 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 270 holdings at December 31, 2016.

 

      December 31, 2016  
     Less Than 12 Months      12 Months or Longer      Total  

Temporarily Impaired Investments

   Fair Value      Unrealized
Losses
     Fair Value      Unrealized
Losses
     Fair Value      Unrealized
Losses
 
(dollars in thousands)                                          

U.S. Treasury

   $      $      $      $      $      $  

U.S. Government Sponsored Enterprises

     24,952        48                      24,952        48  

SBA Backed Securities

     52,346        145        951        1        53,297        146  

U.S. Government Agency and Sponsored Enterprise Mortgage-Backed Securities

     135,612        485        31,504        186        167,116        671  

Privately Issued Residential Mortgage-Backed Securities

                   757        14        757        14  

Obligations Issued by States and Political Subdivisions

                   4,298        405        4,298        405  

Other Debt Securities

     453        47        1,553        147        2,006        194  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total temporarily impaired securities

   $ 213,363      $ 725      $ 39,063      $ 753      $ 252,426      $ 1,478  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

The following table shows the temporarily impaired securities of the Company’s available-for-sale portfolio at December 31, 2015. This table shows the unrealized market loss of securities that have been in a continuous unrealized loss position for 12 months or less and a continuous loss position for 12 months and longer. There are 14 and 11 securities that are temporarily impaired for less than 12 months and for 12 months or longer, respectively, out of a total of 290 holdings at December 31, 2015.

 

      December 31, 2015  
     Less Than 12 Months      12 Months or Longer      Total  

Temporarily Impaired Investments

   Fair Value      Unrealized
Losses
     Fair Value      Unrealized
Losses
     Fair Value      Unrealized
Losses
 
(dollars in thousands)                                          

U.S. Treasury

   $ 1,989      $ 10      $      $      $ 1,989      $ 10  

SBA Backed Securities

     1,031        2                      1,031        2  

U.S. Government Agency and Sponsored Enterprise Mortgage-Backed Securities

     26,519        52        49,341        248        75,860        300  

Privately Issued Residential Mortgage-Backed Securities

                   490        13        490        13  

Obligations Issued by States and Political Subdivisions

                   3,820        878        3,820        878  

Other Debt Securities

     497        3        1,373        127        1,870        130  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total temporarily impaired securities

   $ 30,036      $ 67      $ 55,024      $ 1,266      $ 85,060      $ 1,333