Securities (Tables)
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3 Months Ended |
Mar. 31, 2016 |
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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 | | | March 31, 2016 | | | | | | | | | | | | | | | Money market fund | | $ | 763 | | $ | - | | $ | - | | $ | 763 | | | U.S. government sponsored entities | | | 22,496 | | | 35 | | | (2) | | | 22,529 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 114,126 | | | 2,252 | | | (88) | | | 116,290 | | | Municipal securities | | | 93,232 | | | 4,784 | | | (19) | | | 97,997 | | | Collateralized debt obligations | | | 5,073 | | | - | | | (2,757) | | | 2,316 | | | Total securities available-for-sale | | $ | 235,690 | | $ | 7,071 | | $ | (2,866) | | $ | 239,895 | | | | | (Dollars in thousands) | | | | | | | | Gross | | Gross | | Estimated | | | | | Cost | | Unrealized | | Unrealized | | Fair | | | | | Basis | | Gains | | Losses | | Value | | | December 31, 2015 | | | | | | | | | | | | | | | Money market fund | | $ | 525 | | $ | - | | $ | - | | $ | 525 | | | U.S. government sponsored entities | | | 17,496 | | | 1 | | | (66) | | | 17,431 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 118,628 | | | 1,021 | | | (476) | | | 119,173 | | | Municipal securities | | | 89,506 | | | 3,986 | | | (5) | | | 93,487 | | | Collateralized debt obligations | | | 5,096 | | | - | | | (2,362) | | | 2,734 | | | Total securities available-for-sale | | $ | 231,251 | | $ | 5,008 | | $ | (2,909) | | $ | 233,350 | |
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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 March 31, 2016, 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, 2016 | | Value | | Yield (%) | | | Due in one year or less | | $ | 1,138 | | | 6.84 | | | Due from one to five years | | | 22,106 | | | 2.59 | | | Due from five to ten years | | | 24,822 | | | 4.99 | | | Due over ten years | | | 75,539 | | | 4.52 | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 116,290 | | | 2.47 | | | Total | | $ | 239,895 | | | 3.41 | |
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| 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, | | | | | 2016 | | 2015 | | | | | | | | | | | | Proceeds | | $ | 8,247 | | $ | 12,864 | | | Gross gains | | | 253 | | | 393 | | | Gross losses | | | - | | | - | |
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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, 2015 | | $ | 1,378 | | | Current period change | | | 1,391 | | | Ending balance, March 31, 2016 | | $ | 2,769 | |
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| Unrealized Gain (Loss) on Investments [Table Text Block] |
Securities with gross unrealized losses at March 31, 2016 and December 31, 2015 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, 2016 | | | | | | | | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 1,998 | | $ | (2) | | $ | - | | $ | - | | $ | 1,998 | | $ | (2) | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | - | | | - | | | 6,791 | | | (88) | | | 6,791 | | | (88) | | | Municipal securities | | | 2,062 | | | (19) | | | - | | | - | | | 2,062 | | | (19) | | | Collateralized debt obligations | | | - | | | - | | | 2,316 | | | (2,757) | | | 2,316 | | | (2,757) | | | Total temporarily impaired | | $ | 4,060 | | $ | (21) | | $ | 9,107 | | $ | (2,845) | | $ | 13,167 | | $ | (2,866) | | | Number of securities | | | | | | 6 | | | | | | 10 | | | | | | 16 | |
| | | (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, 2015 | | | | | | | | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | 9,429 | | $ | (66) | | $ | - | | $ | - | | $ | 9,429 | | $ | (66) | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | 39,386 | | | (232) | | | 8,045 | | | (244) | | | 47,431 | | | (476) | | | Municipal securities | | | 1,512 | | | (5) | | | - | | | - | | | 1,512 | | | (5) | | | Collateralized debt obligations | | | - | | | - | | | 2,734 | | | (2,362) | | | 2,734 | | | (2,362) | | | Total temporarily impaired | | $ | 50,327 | | $ | (303) | | $ | 10,779 | | $ | (2,606) | | $ | 61,106 | | $ | (2,909) | | | Number of securities | | | | | | 37 | | | | | | 11 | | | | | | 48 | |
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