Securities (Tables)
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9 Months Ended |
Sep. 30, 2015 |
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| Investments, Debt and Equity Securities [Abstract] |
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| 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 | | | September 30, 2015 | | | | | | | | | | | | | | | Money market fund | | $ | 1,222 | | $ | - | | $ | - | | $ | 1,222 | | | U.S. government sponsored entities | | | 16,249 | | | 18 | | | (7) | | | 16,260 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 117,341 | | | 2,092 | | | (170) | | | 119,263 | | | Municipal securities | | | 90,178 | | | 3,257 | | | (106) | | | 93,329 | | | Collateralized debt obligations | | | 5,096 | | | - | | | (2,298) | | | 2,798 | | | Total securities available-for-sale | | $ | 230,086 | | $ | 5,367 | | $ | (2,581) | | $ | 232,872 | | | | | (Dollars in thousands) | | | | | | | | Gross | | Gross | | Estimated | | | | | Cost | | Unrealized | | Unrealized | | Fair | | | | | Basis | | Gains | | Losses | | Value | | | December 31, 2014 | | | | | | | | | | | | | | | Money market fund | | $ | 6,453 | | $ | - | | $ | - | | $ | 6,453 | | | U.S. government sponsored entities | | | 13,000 | | | 2 | | | (133) | | | 12,869 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 116,088 | | | 1,870 | | | (384) | | | 117,574 | | | Municipal securities | | | 76,989 | | | 3,749 | | | (13) | | | 80,725 | | | Collateralized debt obligations | | | 5,141 | | | - | | | (2,709) | | | 2,432 | | | Total securities available-for-sale | | $ | 217,671 | | $ | 5,621 | | $ | (3,239) | | $ | 220,053 | |
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| Schedule of Contractual Maturities of Available-for-sale Debt Securities [Table Text Block] |
The estimated fair value of available-for-sale debt securities at September 30, 2015, 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 | | | September 30, 2015 | | Value | | | Yield (%) | | | Due in one year or less | | $ | 1,530 | | | 6.87 | | | Due from one to five years | | | 20,548 | | | 2.52 | | | Due from five to ten years | | | 21,909 | | | 5.86 | | | Due over ten years | | | 69,622 | | | 4.55 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 119,263 | | | 2.55 | | | Total | | $ | 232,872 | | | 3.49 | |
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| Schedule of Realized Gain (Loss) [Table Text Block] |
Sales of available-for-sale securities were as follows for the nine months ended:
| | | (Dollars in thousands) | | | | | September 30, | | September 30, | | | | | 2015 | | 2014 | | | | | | | | | | | | Proceeds | | $ | 29,241 | | $ | 29,451 | | | Gross gains | | | 564 | | | 791 | | | Gross losses | | | (2) | | | (271) | |
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| 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, 2014 | | $ | 1,556 | | | Current period change | | | 273 | | | Ending balance, September 30, 2015 | | $ | 1,829 | |
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| Unrealized Gain (Loss) on Investments [Table Text Block] |
Securities with gross unrealized losses at September 30, 2015 and December 31, 2014 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 | | | September 30, 2015 | | | | | | | | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 2,497 | | $ | (3) | | $ | 1,996 | | $ | (4) | | $ | 4,493 | | $ | (7) | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 5,302 | | | (9) | | | 8,500 | | | (161) | | | 13,802 | | | (170) | | | Municipal securities | | | 9,889 | | | (106) | | | - | | | - | | | 9,889 | | | (106) | | | Collateralized debt obligations | | | - | | | - | | | 2,798 | | | (2,298) | | | 2,798 | | | (2,298) | | | Total temporarily impaired | | $ | 17,688 | | $ | (118) | | $ | 13,294 | | $ | (2,463) | | $ | 30,982 | | $ | (2,581) | | | Number of securities | | | | | | 27 | | | | | | 13 | | | | | | 40 | | | | | (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 31, 2014 | | | | | | | | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 1,496 | | $ | (4) | | $ | 10,371 | | $ | (129) | | $ | 11,867 | | $ | (133) | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 8,169 | | | (40) | | | 14,486 | | | (344) | | | 22,655 | | | (384) | | | Municipal securities | | | 687 | | | (3) | | | 1,459 | | | (10) | | | 2,146 | | | (13) | | | Collateralized debt obligations | | | - | | | - | | | 2,432 | | | (2,709) | | | 2,432 | | | (2,709) | | | Total temporarily impaired | | $ | 10,352 | | $ | (47) | | $ | 28,748 | | $ | (3,192) | | $ | 39,100 | | $ | (3,239) | | | Number of securities | | | | | | 9 | | | | | | 29 | | | | | | 38 | |
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