Securities (Tables)
 6 Months Ended
Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Schedule of available for sale securities

The following table summarizes available-for-sale securities held by the Company at June 30, 2016:

 

    Available-for-Sale Securities
June 30, 2016   Amortized Cost   Gross Unrealized Gains   Gross Unrealized Losses   Fair Value
(in thousands)                
Obligations of U.S. Government sponsored entities   $ 522,686     $ 16,061     $ 0     $ 538,747  
Obligations of U.S. states and political subdivisions     84,449       1,462       2       85,909  
Mortgage-backed securities – residential, issued by                                
U.S. Government agencies     135,157       2,114       267       137,004  
U.S. Government sponsored entities     642,180       6,877       1,579       647,478  
Non-U.S. Government agencies or sponsored entities     136       0       0       136  
U.S. corporate debt securities     2,500       0       338       2,162  
Total debt securities     1,387,108       26,514       2,186       1,411,436  
Equity securities     1,000       0       54       946  
Total available-for-sale securities   $ 1,388,108     $ 26,514     $ 2,240     $ 1,412,382  

 

The following table summarizes available-for-sale securities held by the Company at December 31, 2015:

 

    Available-for-Sale Securities
December 31, 2015   Amortized Cost   Gross Unrealized Gains   Gross Unrealized Losses   Fair Value
(in thousands)                
Obligations of U.S. Government sponsored entities   $ 551,176     $ 3,512     $ 1,795     $ 552,893  
Obligations of U.S. states and political subdivisions     83,981       898       153       84,726  
Mortgage-backed securities – residential, issued by                                
U.S. Government agencies     94,459       1,535       1,316       94,678  
U.S. Government sponsored entities     656,947       3,599       10,449       650,097  
Non-U.S. Government agencies or sponsored entities     192       2       0       194  
U.S. corporate debt securities     2,500       0       338       2,162  
Total debt securities     1,389,255       9,546       14,051       1,384,750  
Equity securities     1,000       0       66       934  
Total available-for-sale securities   $ 1,390,255     $ 9,546     $ 14,117     $ 1,385,684  
Schedule of held to maturity securities

The following table summarizes held-to-maturity securities held by the Company at June 30, 2016:

 

    Held-to-Maturity Securities
June 30, 2016   Amortized Cost   Gross Unrealized Gains     Gross
Unrealized
Losses		     Fair Value
(in thousands)                
Obligations of U.S. Government sponsored entities   $ 132,291     $ 7,524     $ 0     $ 139,815  
Obligations of U.S. states and political subdivisions   $ 12,688     $ 398     $ 0     $ 13,086  
Total held-to-maturity debt securities   $ 144,979     $ 7,922     $ 0     $ 152,901  

 

The following table summarizes held-to-maturity securities held by the Company at December 31, 2015:

 

    Held-to-Maturity Securities
December 31, 2015   Amortized Cost   Gross Unrealized Gains     Gross Unrealized Losses     Fair Value
(in thousands)                
Obligations of U.S. Government sponsored entities   $ 132,482     $ 649     $ 444     $ 132,687  
Obligations of U.S. states and political subdivisions     13,589       414       4       13,999  
Total held-to-maturity debt securities   $ 146,071     $ 1,063     $ 448     $ 146,686  
Schedule of available for sale securities with unrealized losses

The following table summarizes available-for-sale securities that had unrealized losses at June 30, 2016:

 

    Less than 12 Months   12 Months or Longer   Total
(in thousands)   Fair Value   Unrealized Losses   Fair Value   Unrealized Losses   Fair Value   Unrealized Losses
Obligations of U.S. Government sponsored entities   $ 503     $ 0     $ 0     $ 0     $ 503     $ 0  
Obligations of U.S. states and political subdivisions     1,408       1       759       1       2,167       2  
                                                 
Mortgage-backed securities – issued by                                                
U.S. Government agencies     553       3       24,541       264       25,094       267  
U.S. Government sponsored entities     15,832       98       145,587       1,481       161,419       1,579  
U.S. corporate debt securities     0       0       2,163       338       2,163       338  
Equity securities     0       0       946       54       946       54  
Total available-for-sale securities   $ 18,296     $ 102     $ 173,996     $ 2,138     $ 192,292     $ 2,240  

 

The following table summarizes available-for-sale securities that had unrealized losses at December 31, 2015:

 

    Less than 12 Months   12 Months or Longer   Total
(in thousands)   Fair Value   Unrealized Losses   Fair Value   Unrealized Losses   Fair Value   Unrealized Losses
Obligations of U.S. Government sponsored entities   $ 183,697     $ 1,618     $ 5,844     $ 177     $ 189,541     $ 1,795  
Obligations of U.S. states and political subdivisions     25,402       141       3,408       12       28,810       153  
                                                 
Mortgage-backed securities – residential, issued by                                                
U.S. Government agencies     32,636       350       30,244       966       62,880       1,316  
U.S. Government sponsored entities     364,420       4,102       176,325       6,347       540,745       10,449  
U.S. corporate debt securities     0       0       2,163       338       2,163       338  
Equity securities     0       0       934       66       934       66  
Total available-for-sale securities   $ 606,155     $ 6,211     $ 218,918     $ 7,906     $ 825,073     $ 14,117  
Schedule held-to-maturity securities with unrealized losses

The following table summarizes held-to-maturity securities that had unrealized losses at December 31, 2015:

 

    Less than 12 Months   12 Months or Longer   Total
(in thousands)   Fair Value   Unrealized Losses   Fair Value   Unrealized Losses   Fair Value   Unrealized Losses
Obligations of U.S. Government sponsored entities   $ 29,671     $ 444     $ 0     $ 0     $ 29,671     $ 444  
Obligations of U.S. sponsored entities     1,966       4       0       0       1,966       4  
Total held-to-maturity securities   $ 31,637     $ 448     $ 0     $ 0     $ 31,637     $ 448  

 
Schedule of amortized cost and estimated fair value of debt securities by contractual maturity

 The amortized cost and estimated fair value of debt securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities are shown separately since they are not due at a single maturity date.

 

June 30, 2016        
(in thousands)   Amortized Cost   Fair Value
Available-for-sale securities:        
Due in one year or less   $ 27,577     $ 27,854  
Due after one year through five years     346,074       355,429  
Due after five years through ten years     223,789       231,552  
Due after ten years     12,195       11,983  
Total     609,635       626,818  
Mortgage-backed securities     777,473       784,618  
Total available-for-sale debt securities   $ 1,387,108     $ 1,411,436  

 

December 31, 2015        
(in thousands)   Amortized Cost   Fair Value
Available-for-sale securities:        
Due in one year or less   $ 53,936     $ 54,735  
Due after one year through five years     351,462       353,736  
Due after five years through ten years     219,161       218,561  
Due after ten years     13,098       12,749  
Total     637,657       639,781  
Mortgage-backed securities     751,598       744,969  
Total available-for-sale debt securities   $ 1,389,255     $ 1,384,750  

 

June 30, 2016        
(in thousands)   Amortized Cost   Fair Value
Held-to-maturity securities:        
Due in one year or less   $ 8,781     $ 8,813  
Due after one year through five years     28,560       29,900  
Due after five years through ten years     107,535       114,061  
Due after ten years     103       127  
Total held-to-maturity debt securities   $ 144,979     $ 152,901  

 

December 31, 2015        
(in thousands)   Amortized Cost   Fair Value
Held-to-maturity securities:        
Due in one year or less   $ 9,249     $ 9,294  
Due after one year through five years     14,069       14,341  
Due after five years through ten years     122,585       122,853  
Due after ten years     168       198  
Total held-to-maturity debt securities   $ 146,071     $ 146,686  
Schedule of trading securities at estimated fair value

The following summarizes trading securities, at estimated fair value, as of:

 

(in thousands)     06/30/2016       12/31/2015  
         
Obligations of U.S. Government sponsored entities   $ 6,249     $ 6,601  
Mortgage-backed securities – residential, issued by U.S. Government sponsored entities     470       767  
Total   $ 6,719     $ 7,368