Investment Securities (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
		(dollars in thousands)
Obligations of U.S. government agencies	$	61,119	$	105	$	(581	)	$	60,643
Mortgage backed securities
U.S. government sponsored entities and agencies		242,203		857		(3,725	)		239,335
Non-agency		24,224		46		(33	)		24,237
State and municipal securities		125,911		2,154		(2,234	)		125,831
Asset backed securities		8,956		–		(185	)		8,771
Total available for sale securities	$	462,413	$	3,162	$	(6,758	)	$	458,817

	December 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
		(dollars in thousands)
Obligations of U.S. government agencies	$	47,478	$	269	$	(429	)	$	47,318
Mortgage backed securities
U.S. government sponsored entities and agencies		246,561		986		(2,312	)		245,235
Non-agency		34,645		–		(328	)		34,317
State and municipal securities		105,164		3,486		(244	)		108,406
Asset backed securities		16,183		–		(556	)		15,627
Other investments		100		–		(68	)		32
Total available for sale securities	$	450,131	$	4,741	$	(3,937	)	$	450,935

Summary of investment securities in an unrealized loss position

	December 31, 2016
	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	$	21,704	$	(78	)	$	29,879	$	(503	)	$	51,583	$	(581	)
Mortgage backed securities
U.S. government sponsored entities and agencies		142,895		(3,098	)		20,733		(627	)		163,628		(3,725	)
Non-agency		9,433		(29	)		634		(4	)		10,067		(33	)
State and municipal securities		54,527		(2,234	)		–		–			54,527		(2,234	)
Asset backed securities		–		–			8,771		(185	)		8,771		(185	)
Total	$	228,559	$	(5,439	)	$	60,017	$	(1,319	)	$	288,576	$	(6,758	)

	December 31, 2015
	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	$	34,533	$	(429	)	$	–	$	–		$	34,533	$	(429	)
Mortgage backed securities
U.S. government sponsored entities and agencies		131,570		(1,485	)		31,558		(827	)		163,128		(2,312	)
Non-agency		31,400		(317	)		2,917		(11	)		34,317		(328	)
State and municipal securities		15,660		(243	)		235		(1	)		15,895		(244	)
Asset backed securities		–		–			15,626		(556	)		15,626		(556	)
Other investments		32		(68	)		–		–			32		(68	)
Total	$	213,195	$	(2,542	)	$	50,336	$	(1,395	)	$	263,531	$	(3,937	)

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

	For the Years Ended December 31,
	2016			2015			2014
		(dollars in thousands)
Proceeds	$	107,566		$	55,184		$	129,074
Gross gains		1,305			815			1,050
Gross losses		(414	)		(174	)		(404	)

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

	December 31, 2016				December 31, 2015
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
		(dollars in thousands)
Due one year or less	$	43,127	$	43,015	$	51,049	$	50,978
Due after one year through five years		147,891		147,201		153,444		152,916
Due after five years through ten years		187,652		186,296		182,996		184,870
Due after ten years		83,743		82,305		62,642		62,171
Total	$	462,413	$	458,817	$	450,131	$	450,935

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

	For the Years Ended December 31,
	2016		2015		2014
		(dollars in thousands)
Taxable earnings on investment securities
Mortgage backed securities	$	4,695	$	3,675	$	4,433
Obligations of U.S. government agencies		915		645		348
State and municipal securities		621		527		85
Asset backed securities		123		147		353
Corporate debt securities		–		–		6
Earnings on investment securities exempt from federal taxation
State and municipal securities		2,550		2,317		2,013
Total	$	8,904	$	7,311	$	7,238