Investment Securities (Tables)

12 Months Ended

Dec. 31, 2014

Investment Securities

Schedule of amortized cost and fair values of the Company's investment securities, all of which are reported as available for sale

	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
		(dollars in thousands)
Obligations of U.S. government agencies	$	19,562	$	191	$	(89	)	$	19,664
Mortgage backed securities
U.S. government sponsored entities and agencies		216,492		1,092		(2,186	)		215,398
Non-agency		11,891		21		(11	)		11,901
State and municipal securities		79,810		2,843		(61	)		82,592
Asset backed securities		26,216		–		(191	)		26,025
Total available for sale securities	$	353,971	$	4,147	$	(2,538	)	$	355,580
	December 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
		(dollars in thousands)
Obligations of U.S. government agencies	$	6,243	$	11	$	(46	)	$	6,208
Mortgage backed securities
U.S. government sponsored entities and agencies		186,981		342		(4,392	)		182,931
Non-agency		10,924		156		(48	)		11,032
State and municipal securities		51,532		269		(1,771	)		50,030
Asset backed securities		26,935		–		(341	)		26,594
Total available for sale securities	$	282,615	$	778	$	(6,598	)	$	276,795

Summary of investment securities in an unrealized loss position

	December 31, 2014
	Less Than Twelve Months					Twelve Months or More					Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
		(dollars in thousands)
Obligations of U.S. government agencies	$	2,795	$	(17	)	$	2,607	$	(72	)	$	5,402	$	(89	)
Mortgage backed securities
U.S. government sponsored entities and agencies		50,583		(670	)		58,753		(1,516	)		109,336		(2,186	)
Non-agency		3,000		(7	)		507		(4	)		3,507		(11	)
State and municipal securities		5,899		(47	)		2,245		(14	)		8,144		(61	)
Asset backed securities		–		–			17,153		(191	)		17,153		(191	)
Total	$	62,277	$	(741	)	$	81,265	$	(1,797	)	$	143,542	$	(2,538	)
	December 31, 2013
	Less Than Twelve Months					Twelve Months or More					Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
		(dollars in thousands)
Obligations of U.S. government agencies	$	2,773	$	(45	)	$	40	$	(1	)	$	2,813	$	(46	)
Mortgage backed securities
U.S. government sponsored entities and agencies		118,554		(3,140	)		18,863		(1,252	)		137,417		(4,392	)
Non-agency		3,210		(48	)		–		–			3,210		(48	)
State and municipal securities		32,967		(1,675	)		2,458		(96	)		35,425		(1,771	)
Asset backed securities		7,978		(246	)		9,747		(95	)		17,725		(341	)
Total	$	165,482	$	(5,154	)	$	31,108	$	(1,444	)	$	196,590	$	(6,598	)

Schedule of proceeds from the sales and calls of securities and the associated gains and losses

	December 31,
	2014			2013			2012
		(dollars in thousands)
Proceeds	$	129,074		$	161,765		$	141,166
Gross gains		1,050			5,599			3,152
Gross losses		(404	)		(1,673	)		(533	)

Schedule of amortized cost and fair values maturities of available for sale investment securities

	2014				2013
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
		(dollars in thousands)
Due one year or less	$	38,674	$	38,587	$	29,282	$	28,999
Due after one year through five years		113,081		112,926		90,023		88,760
Due after five years through ten years		137,909		140,115		100,191		97,752
Due after ten years		64,307		63,952		63,119		61,284
Total	$	353,971	$	355,580	$	282,615	$	276,795

Summary of earnings on both taxable and tax-exempt investment securities

	For the years ended December 31,
	2014		2013		2012
		(dollars in thousands)
Taxable earnings on investment securities
Obligations of U.S. government agencies	$	348	$	106	$	105
Mortgage backed securities		4,433		3,441		3,776
State and municipal securities		85		5		191
Corporate debt securities		6		–		631
Asset backed securities		353		427		241
Non-taxable earnings on investment securities
State and municipal securities		2,013		1,497		1,952
Total	$	7,238	$	5,476	$	6,896