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Securities (Tables)

12 Months Ended

Dec. 31, 2018

Investments Debt And Equity Securities [Abstract]

Summary of Amortized Cost and Estimated Fair Values of Debt Securities Held for Investment

The following table summarizes the amortized cost and estimated fair values of debt securities held for investment:

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
		(Dollars in thousands)
December 31, 2018
Mortgage backed securities (1)		$	133			$	5			$	—			$	138
States and political subdivisions			795				—				—				795
Other securities			500				—				—				500
Total		$	1,428			$	5			$	—			$	1,433
December 31, 2017
Mortgage backed securities (1)		$	187			$	10			$	—			$	197
States and political subdivisions			1,605				3				(2	)			1,606
Other securities			500				—				—				500
Total		$	2,292			$	13			$	(2	)		$	2,303

Summary of Amortized Cost and Estimated Fair Values of Debt Securities Available for Sale

The following table summarizes the amortized cost and estimated fair values of debt securities available for sale:

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
		(Dollars in thousands)
December 31, 2018
U.S. treasuries		$	699,882			$	1,108			$	(3,524	)		$	697,466
U.S. federal agencies			30,079				—				(160	)			29,919
Mortgage backed securities (1)			16,367				114				(573	)			15,908
States and political subdivisions			27,246				277				(112	)			27,411
Total		$	773,574			$	1,499			$	(4,369	)		$	770,704
December 31, 2017
U.S. treasuries		$	314,905			$	—			$	(2,103	)		$	312,802
U.S. federal agencies			89,098				82				(329	)			88,851
Mortgage backed securities (1)			18,358				204				(586	)			17,976
States and political subdivisions			41,937				554				(121	)			42,370
Total		$	464,298			$	840			$	(3,139	)		$	461,999

(1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies.

Maturity of Debt Securities

The maturities of debt securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity.

		December 31,
		2018								2017
		Amortized Cost				Estimated Fair Value				Amortized Cost				Estimated Fair Value
		(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year		$	495			$	495			$	1,036			$	1,034
After one year but within five years			369				370				623				627
After five years but within ten years			562				565				625				633
After ten years			2				3				8				9
Total		$	1,428			$	1,433			$	2,292			$	2,303
Available for Sale
Contractual maturity of debt securities:
Within one year		$	411,256			$	410,327			$	113,225			$	112,974
After one year but within five years			313,416				311,924				289,038				287,058
After five years but within ten years			7,524				7,685				6,222				6,500
After ten years			41,378				40,768				55,813				55,467
Total debt securities		$	773,574			$	770,704			$	464,298			$	461,999

Proceeds from Sales and Realized Securities Losses, on Available for Sale Debt Securities

The following is a detail of proceeds from sales and realized securities losses, on available for sale debt securities:

		Year Ended December 31,
		2018				2017				2016
		(Dollars in thousands)
Proceeds		$	31,285			$	—			$	—
Gross losses realized			109				—				—

Company's Book Value of Pledged Debt Securities

The following table is a summary of the Company’s book value of debt securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law:

		December 31,
		2018				2017
		(Dollars in thousands)
Book value of pledged securities		$	472,053			$	440,069

Summary of Debt Securities with Unrealized Losses, Segregated by Duration of Unrealized Loss

The following table summarizes debt securities with unrealized losses, segregated by the duration of the unrealized loss, at December 31, 2018 and 2017 respectively:

		Less than 12 Months								More than 12 Months								Total
		Estimated Fair Value				Unrealized Losses				Estimated Fair Value				Unrealized Losses				Estimated Fair Value				Unrealized Losses
		(Dollars in thousands)
December 31, 2018
Held for Investment
Mortgage backed securities		$	—			$	—			$	4			$	—			$	4			$	—
Total		$	—			$	—			$	4			$	—			$	4			$	—
Available for Sale
U.S. treasuries		$	296,438			$	90			$	261,639			$	3,434			$	558,077			$	3,524
U.S. federal agencies			1,705				7				27,035				153				28,740				160
Mortgage backed securities			1				—				13,444				573				13,445				573
States and political subdivisions			1,593				3				11,527				109				13,120				112
Total		$	299,737			$	100			$	313,645			$	4,269			$	613,382			$	4,369
December 31, 2017
Held for Investment
Mortgage backed securities		$	—			$	—			$	7			$	—			$	7			$	—
States and political subdivisions			65				—				478				2				543				2
Total		$	65			$	—			$	485			$	2			$	550			$	2
Available for Sale
U.S. treasuries		$	283,302			$	1,653			$	29,500			$	450			$	312,802			$	2,103
U.S. federal agencies			3,499				8				59,220				321				62,719				329
Mortgage backed securities			1				—				14,475				586				14,476				586
States and political subdivisions			21,300				114				585				7				21,885				121
Total		$	308,102			$	1,775			$	103,780			$	1,364			$	411,882			$	3,139

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Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

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