Securities (Tables)
|
3 Months Ended |
Mar. 31, 2017 |
|---|
| Investments, Debt and Equity Securities [Abstract] |
|
| Available-for-sale Securities [Table Text Block] |
The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:
| | | (Dollars in thousands) | | | | | | | Gross | | Gross | | Estimated | | | | | Cost | | Unrealized | | Unrealized | | Fair | | | | | Basis | | Gains | | Losses | | Value | | | March 31, 2017 | | | | | | | | | | | Money market fund | | $ | 353 | | $ | - | | $ | - | | $ | 353 | | | U.S. government sponsored entities | | | 13,995 | | | - | | | (272) | | | 13,723 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 125,005 | | | 411 | | | (1,252) | | | 124,164 | | | Municipal securities | | | 94,094 | | | 2,349 | | | (379) | | | 96,064 | | | Collateralized debt obligations | | | 4,935 | | | - | | | (1,960) | | | 2,975 | | | Total securities available-for-sale | | $ | 238,382 | | $ | 2,760 | | $ | (3,863) | | $ | 237,279 | |
| | | (Dollars in thousands) | | | | | | | Gross | | Gross | | Estimated | | | | | Cost | | Unrealized | | Unrealized | | Fair | | | | | Basis | | Gains | | Losses | | Value | | | December 31, 2016 | | | | | | | | | | | Money market fund | | $ | 222 | | $ | - | | $ | - | | $ | 222 | | | U.S. government sponsored entities | | | 16,643 | | | - | | | (369) | | | 16,274 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 118,807 | | | 441 | | | (1,273) | | | 117,975 | | | Municipal securities | | | 95,242 | | | 2,146 | | | (643) | | | 96,745 | | | Collateralized debt obligations | | | 4,989 | | | - | | | (2,580) | | | 2,409 | | | Total securities available-for-sale | | $ | 235,903 | | $ | 2,587 | | $ | (4,865) | | $ | 233,625 | |
|
| Schedule of Contractual Maturities of Available-for-sale Debt Securities [Table Text Block] |
The estimated fair value of available-for-sale debt securities at March 31, 2017, by contractual maturity, were as follows. Securities not due at a single maturity date, primarily collateralized mortgage obligations and residential mortgage-backed securities, are shown separately.
| | | (Dollars in thousands) | | | | | Available-for-sale | | | | | Estimated | | | | | | Fair | Tax-Equivalent | | | March 31, 2017 | | Value | Yield (%) | | | Due in one year or less | | $ | 545 | | | 7.13 | | | Due from one to five years | | | 11,756 | | | 3.19 | | | Due from five to ten years | | | 31,164 | | | 4.72 | | | Due over ten years | | | 69,650 | | | 4.40 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 124,164 | | | 2.58 | | | Total | | $ | 237,279 | | | 3.43 | |
|
| Schedule of Realized Gain (Loss) [Table Text Block] |
Sales of available-for-sale securities were as follows for the three months ended:
| | | (Dollars in thousands) | | | | | March 31, | | March 31, | | | | | 2017 | | 2016 | | | | | | | | | | Proceeds | | $ | 17,964 | | $ | 8,247 | | | Gross gains | | | 334 | | | 253 | | | Gross losses | | | (41) | | | - | |
|
| Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows:
| | | (Dollars in thousands) | | | | | Unrealized | | | | | gain/(loss) | | | Ending balance, December 31, 2016 | | $ | (1,506) | | | Current period change | | | 776 | | | Ending balance, March 31, 2017 | | $ | (730) | |
|
| Unrealized Gain (Loss) on Investments [Table Text Block] |
Securities with gross unrealized losses at March 31, 2017 and December 31, 2016 not recognized in income are as follows:
| | | (Dollars in thousands) | | | | | Less than 12 months | | 12 months or longer | | Total | | | | | Estimated | | | | Estimated | | | | Estimated | | | | | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | March 31, 2017 | | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 13,723 | | $ | (272) | | $ | - | | $ | - | | $ | 13,723 | | $ | (272) | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 75,029 | | | (1,160) | | | 2,203 | | | (92) | | | 77,232 | | | (1,252) | | | Municipal securities | | | 15,711 | | | (379) | | | - | | | - | | | 15,711 | | | (379) | | | Collateralized debt obligations | | | - | | | - | | | 2,975 | | | (1,960) | | | 2,975 | | | (1,960) | | | Total temporarily impaired | | $ | 104,463 | | $ | (1,811) | | $ | 5,178 | | $ | (2,052) | | $ | 109,641 | | $ | (3,863) | | | Number of securities | | | | | | 84 | | | | | | 6 | | | | | | 90 | | | | | (Dollars in thousands) | | | | | Less than 12 months | | 12 months or longer | | Total | | | | | Estimated | | | | Estimated | | | | Estimated | | | | | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | December 30, 2016 | | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 16,274 | | $ | (369) | | $ | - | | $ | - | | $ | 16,274 | | $ | (369) | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 75,931 | | | (1,183) | | | 2,287 | | | (90) | | | 78,218 | | | (1,273) | | | Municipal securities | | | 20,775 | | | (643) | | | - | | | - | | | 20,775 | | | (643) | | | Collateralized debt obligations | | | - | | | - | | | 2,409 | | | (2,580) | | | 2,409 | | | (2,580) | | | Total temporarily impaired | | $ | 112,980 | | $ | (2,195) | | $ | 4,696 | | $ | (2,670) | | $ | 117,676 | | $ | (4,865) | | | Number of securities | | | | | | 97 | | | | | | 6 | | | | | | 103 | |
|