XML 90 R26.htm IDEA: XBRL DOCUMENT v3.3.0.814
SECURITIES (Tables)
9 Months Ended
Sep. 30, 2015
Marketable Securities [Line Items]  
Schedule of Trading Securities
Securities—Trading:  The amortized cost and estimated fair value of securities—trading at September 30, 2015 and December 31, 2014 are summarized as follows (in thousands):
 
September 30, 2015
 
December 31, 2014
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
U.S. Government and agency obligations
$
1,230

 
$
1,389

 
$
1,340

 
$
1,505

Municipal bonds
1,403

 
1,418

 
1,405

 
1,440

Corporate bonds
25,026

 
18,340

 
27,995

 
19,118

Mortgage-backed or related securities
15,043

 
16,313

 
16,726

 
18,136

Equity securities
14

 
55

 
14

 
59

 
$
42,716

 
$
37,515

 
$
47,480

 
$
40,258

Schedule of Available-for-sale Securities
Securities—Available-for-Sale:  The amortized cost and estimated fair value of securities—available-for-sale at September 30, 2015 and December 31, 2014 are summarized as follows (in thousands):
 
September 30, 2015
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
U.S. Government and agency obligations
$
12,043

 
$

 
$
(51
)
 
$
11,992

Municipal bonds
67,459

 
300

 
(102
)
 
67,657

Corporate bonds
5,000

 
22

 

 
5,022

Mortgage-backed or related securities
300,929

 
2,391

 
(520
)
 
302,800

Asset-backed securities
31,300

 

 
(517
)
 
30,783

 
$
416,731

 
$
2,713

 
$
(1,190
)
 
$
418,254

 
 
 
 
 
 
 
 
 
December 31, 2014
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
U.S. Government and agency obligations
$
29,973

 
$
8

 
$
(211
)
 
$
29,770

Municipal bonds
49,959

 
190

 
(121
)
 
50,028

Corporate bonds
5,000

 
18

 

 
5,018

Mortgage-backed or related securities
300,979

 
1,429

 
(1,598
)
 
300,810

Asset-backed securities
25,513

 
167

 
(285
)
 
25,395

 
$
411,424

 
$
1,812

 
$
(2,215
)
 
$
411,021

Schedule of Available-for-sale Securities with Continuous Loss Position
At September 30, 2015 and December 31, 2014, an aging of unrealized losses and fair value of related securities—available-for-sale was as follows (in thousands):
 
September 30, 2015
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Government and agency obligations
$
1,334

 
$
(9
)
 
$
10,658

 
$
(42
)
 
$
11,992

 
$
(51
)
Municipal bonds
15,727

 
(95
)
 
3,199

 
(7
)
 
18,926

 
(102
)
Mortgage-backed or related securities
41,550

 
(248
)
 
72,167

 
(272
)
 
113,717

 
(520
)
Asset-backed securities
20,835

 
(422
)
 
9,948

 
(95
)
 
30,783

 
(517
)
 
$
79,446

 
$
(774
)
 
$
95,972

 
$
(416
)
 
$
175,418

 
$
(1,190
)
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Government and agency obligations
$
15,983

 
$
(58
)
 
$
9,847

 
$
(153
)
 
$
25,830

 
$
(211
)
Municipal bonds
16,322

 
(61
)
 
7,129

 
(60
)
 
23,451

 
(121
)
Corporate bonds

 

 

 

 

 

Mortgage-backed or related securities
91,046

 
(236
)
 
107,266

 
(1,362
)
 
198,312

 
(1,598
)
Asset-backed securities

 

 
9,765

 
(285
)
 
9,765

 
(285
)
 
$
123,351

 
$
(355
)
 
$
134,007

 
$
(1,860
)
 
$
257,358

 
$
(2,215
)
Schedule of Held-to-maturity Securities
Securities—Held-to-Maturity:  The amortized cost and estimated fair value of securities—held-to-maturity at September 30, 2015 and December 31, 2014 are summarized as follows (in thousands):
 
September 30, 2015
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
U.S. Government and agency obligations
$
1,116

 
$
10

 
$

 
$
1,126

Municipal bonds
121,937

 
6,073

 
(197
)
 
127,813

Corporate bonds
1,800

 

 

 
1,800

Mortgage-backed or related securities
7,297

 
220

 
(1
)
 
7,516

 
$
132,150

 
$
6,303

 
$
(198
)
 
$
138,255

 
 
 
 
 
 
 
 
 
December 31, 2014
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
U.S. Government and agency obligations
$
2,146

 
$

 
$
(19
)
 
$
2,127

Municipal bonds
119,951

 
6,319

 
(48
)
 
126,222

Corporate bonds
1,800

 

 

 
1,800

Mortgage-backed or related securities
7,361

 
105

 
(7
)
 
7,459

 
$
131,258

 
$
6,424

 
$
(74
)
 
$
137,608

Schedule of Held-to-maturity Securities with Continuous Loss Position
At September 30, 2015 and December 31, 2014, an aging analysis of unrealized losses and fair value of related securities—held-to-maturity was as follows (in thousands):
 
September 30, 2015
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Government and agency obligations
$

 
$

 
$

 
$

 
$

 
$

Municipal bonds
8,542

 
(193
)
 
255

 
(4
)
 
8,797

 
(197
)
Mortgage-backed or related securities

 

 
287

 
(1
)
 
287

 
(1
)
 
$
8,542

 
$
(193
)
 
$
542

 
$
(5
)
 
$
9,084

 
$
(198
)
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
U.S. Government and agency obligations
$

 
$

 
$
1,127

 
$
(19
)
 
$
1,127

 
$
(19
)
Municipal bonds
9,821

 
(44
)
 
592

 
(4
)
 
10,413

 
(48
)
Mortgage-backed or related securities
1,018

 
(7
)
 

 

 
1,018

 
(7
)
 
$
10,839

 
$
(51
)
 
$
1,719

 
$
(23
)
 
$
12,558

 
$
(74
)
Schedule of Pledged Securities
The following table presents, as of September 30, 2015, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands):
 
Amortized Cost
 
Fair Value
Purpose or beneficiary:
 
 
 
State and local governments public deposits
$
132,234

 
$
137,818

Interest rate swap counterparties
13,419

 
13,949

Retail repurchase agreements
110,258

 
111,037

Total pledged securities
$
255,911

 
$
262,804

Trading Securities [Member]  
Marketable Securities [Line Items]  
Schedule of Securities by Contractual Maturity Date
The amortized cost and estimated fair value of securities—trading at September 30, 2015, by contractual maturity, are shown below (in thousands).  Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties.
 
September 30, 2015
 
Amortized Cost
 
Fair Value
 
 
 
 
Maturing in one year or less
$
1,070

 
$
1,075

Maturing after one year through five years
9,021

 
9,735

Maturing after five years through ten years
3,567

 
3,961

Maturing after ten years through twenty years
4,018

 
4,349

Maturing after twenty years
25,026

 
18,340

 
42,702

 
37,460

Equity securities
14

 
55

 
$
42,716

 
$
37,515

Available-for-sale Securities [Member]  
Marketable Securities [Line Items]  
Schedule of Securities by Contractual Maturity Date
The amortized cost and estimated fair value of securities—available-for-sale at September 30, 2015 and December 31, 2014, by contractual maturity, are shown below (in thousands).  Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties.
 
September 30, 2015
 
Amortized Cost
 
Fair Value
 
 
 
 
Maturing in one year or less
$
17,491

 
$
17,462

Maturing after one year through five years
250,837

 
251,489

Maturing after five years through ten years
37,545

 
37,541

Maturing after ten years through twenty years
30,856

 
31,376

Maturing after twenty years
80,002

 
80,386

 
$
416,731

 
$
418,254

Held-to-maturity Securities [Member]  
Marketable Securities [Line Items]  
Schedule of Securities by Contractual Maturity Date
The amortized cost and estimated fair value of securities—held-to-maturity at September 30, 2015 and December 31, 2014, by contractual maturity, are shown below (in thousands).  Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties.
 
September 30, 2015
 
Amortized Cost
 
Fair Value
 
 
 
 
Maturing in one year or less
$
3,747

 
$
3,799

Maturing after one year through five years
13,852

 
14,041

Maturing after five years through ten years
24,951

 
25,608

Maturing after ten years through twenty years
76,642

 
81,606

Maturing after twenty years
12,958

 
13,201

 
$
132,150

 
$
138,255