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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Held-to-maturity Securities
Below is an analysis of the amortized cost and fair values of debt securities held to maturity at December 31:.
 
2018
 
2017
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
$
3,635

 
$
—

 
$
(97
)
 
$
3,538

 
$
3,925

 
$
—

 
$
(14
)
 
$
3,911

Mortgage-Backed Securities – Commercial
55,221

 
—

 
(2,327
)
 
52,894

 
58,249

 
—

 
(1,394
)
 
56,855

Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
279,109

 
212

 
(7,254
)
 
272,067

 
305,126

 
10

 
(2,552
)
 
302,584

Mortgage-Backed Securities – Commercial
13,159

 
—

 
(258
)
 
12,901

 
14,056

 
—

 
(71
)
 
13,985

Obligations of States and Political Subdivisions
42,331

 
175

 
(313
)
 
42,193

 
40,540

 
335

 
(161
)
 
40,714

Debt Securities Issued by Foreign Governments
400

 
—

 
—

 
400

 
200

 
—

 
—

 
200

Total Securities Held to Maturity
$
393,855

 
$
387

 
$
(10,249
)
 
$
383,993

 
$
422,096

 
$
345

 
$
(4,192
)
 
$
418,249
Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale
The amortized cost and estimated fair value of debt securities available for sale at December 31, 2018, by contractual maturity, are shown below:
 
Amortized
Cost
 
Estimated
Fair Value
 
(dollars in thousands)
Due within 1 year
$
4,000

 
$
3,993

Due after 1 but within 5 years
17,256

 
17,045

Due after 5 but within 10 years
35,319

 
35,448

Due after 10 years
1,929

 
2,250

 
58,504

 
58,736

Mortgage-Backed Securities (a)
865,550

 
850,511

Total Debt Securities
$
924,054

 
$
909,247

 
(a)
Mortgage Backed Securities include an amortized cost of $178.6 million and a fair value of $177.2 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $686.9 million and a fair value of $673.4 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.
Below is an analysis of the amortized cost and fair values of securities available for sale at December 31:
 
2018
 
2017
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
$
9,011

 
$
479

 
$
(84
)
 
$
9,406

 
$
10,556

 
$
789

 
$
(7
)
 
$
11,338

Mortgage-Backed Securities – Commercial
169,633

 
214

 
(2,103
)
 
167,744

 
24,611

 
—

 
(462
)
 
24,149

Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
686,906

 
1,846

 
(15,391
)
 
673,361

 
632,422

 
2,622

 
(9,489
)
 
625,555

Other Government-Sponsored Enterprises
10,000

 
12

 
—

 
10,012

 
1,098

 
—

 
(1
)
 
1,097

Obligations of States and Political Subdivisions
27,592

 
126

 
(6
)
 
27,712

 
27,083

 
327

 
—

 
27,410

Corporate Securities
20,912

 
321

 
(221
)
 
21,012

 
15,907

 
590

 
(4
)
 
16,493

Pooled Trust Preferred Collateralized Debt Obligations
—

 
—

 
—

 
—

 
27,499

 
526

 
(4,379
)
 
23,646

Total Debt Securities
924,054

 
2,998

 
(17,805
)
 
909,247

 
739,176

 
4,854

 
(14,342
)
 
729,688

Equities
—

 
—

 
—

 
—

 
1,670

 
—

 
—

 
1,670

Total Securities Available for Sale
$
924,054

 
$
2,998

 
$
(17,805
)
 
$
909,247

 
$
740,846

 
$
4,854

 
$
(14,342
)
 
$
731,358
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale
(a)
Mortgage Backed Securities include an amortized cost of $178.6 million and a fair value of $177.2 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $686.9 million and a fair value of $673.4 million
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of debt securities held to maturity at December 31, 2018, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.
 
Amortized
Cost
 
Estimated
Fair Value
 
(dollars in thousands)
Due within 1 year
$
520

 
$
519

Due after 1 but within 5 years
7,218

 
7,210

Due after 5 but within 10 years
34,993

 
34,864

Due after 10 years
—

 
—

 
42,731

 
42,593

Mortgage-Backed Securities (a)
351,124

 
341,400

Total Debt Securities
$
393,855

 
$
383,993

(a)
Mortgage Backed Securities include an amortized cost of $58.9 million and a fair value of $56.4 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $292.3 million and a fair value of $285.0 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.