Securities (Tables)
|
6 Months Ended |
Jun. 30, 2016 |
|---|
| 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 |
| | June 30, 2016 |
|
|
|
|
|
|
|
|
|
|
|
| | Money market fund |
| $
| 1,603 |
|
| $
| - |
|
| $
| - |
|
| $
| 1,603 |
| | U.S. government sponsored entities |
|
| 32,144 |
|
|
| 58 |
|
|
| - |
|
|
| 32,202 |
| | Collateralized mortgage obligations and residential mortgage-backed securities |
|
| 106,705 |
|
|
| 2,853 |
|
|
| (22 | )
|
|
| 109,536 |
| | Municipal securities |
|
| 91,729 |
|
|
| 6,289 |
|
|
| - |
|
|
| 98,018 |
| | Collateralized debt obligations |
|
| 5,056 |
|
|
| - |
|
|
| (3,182 | )
|
|
| 1,874 |
| | Total securities available-for-sale |
| $
| 237,237 |
|
| $
| 9,200 |
|
| $
| (3,204 | )
|
| $
| 243,233 |
|
|
|
| (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 |
|
|
| Schedule of Contractual Maturities of Available-for-sale Debt Securities [Table Text Block] |
The estimated fair value of available-for-sale debt securities at June 30, 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 |
| | June 30, 2016 |
| Value |
|
| Yield (%) |
| | Due in one year or less |
| $
| 1,974 |
|
|
| 6.84 |
| | Due from one to five years |
|
| 25,343 |
|
|
| 2.30 |
| | Due from five to ten years |
|
| 34,553 |
|
|
| 4.26 |
| | Due over ten years |
|
| 71,827 |
|
|
| 4.49 |
| |
|
|
| |
|
|
| |
| | Collateralized mortgage obligations and residential mortgage-backed securities |
|
| 109,536 |
|
|
| 2.39 |
| | Total |
| $
| 243,233 |
|
|
| 3.30 |
|
|
| Schedule of Realized Gain (Loss) [Table Text Block] |
Sales of available-for-sale securities were as follows for the six months ended:
|
|
| (Dollars in thousands) |
| |
|
| June 30, |
|
| June 30, |
| |
|
| 2016 |
|
| 2015 |
| |
|
|
|
|
|
|
| | Proceeds |
| $
| 15,613 |
|
| $
| 19,183 |
| | Gross gains |
|
| 436 |
|
|
| 532 |
| | Gross losses |
|
| (18 | )
|
|
| (2 | )
|
|
| 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 |
|
| 2,574 |
| | Ending balance, June 30, 2016 |
| $
| 3,952 |
|
|
| Unrealized Gain (Loss) on Investments [Table Text Block] |
Securities with gross unrealized losses at June 30, 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 | | | June 30, 2016 | | | | | | | | | | | | | | | | | | | | | | | | | | U.S. government sponsored entities | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | Collateralized mortgage obligations and residential mortgage-backed securities | | | - | | | | - | | | | 2,570 | | | | (22 | ) | | | 2,570 | | | | (22 | ) | | Municipal securities | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | Collateralized debt obligations | | | - | | | | - | | | | 1,874 | | | | (3,182 | ) | | | 1,874 | | | | (3,182 | ) | | Total temporarily impaired | | $ | - | | | $ | - | | | $ | 4,444 | | | $ | (3,204 | ) | | $ | 4,444 | | | $ | (3,204 | ) | | Number of securities | | | | | | | | | | | | | | | 6 | | | | | | | | 6 | | | | | (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 | |
|