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SECURITIES (Tables)
6 Months Ended
Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-For-Sale Securities

Information related to the fair value and amortized cost of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is provided in the tables below.

Gross

Gross

Amortized

Unrealized

Unrealized

Fair

(dollars in thousands)

    

Cost

    

Gain

    

Losses

    

Value

June 30, 2019

U.S. Treasury securities

$

995

$

12

$

0

$

1,007

U.S. government sponsored agencies

2,302

0

(12)

2,290

Mortgage-backed securities: residential

320,298

4,381

(734)

323,945

Mortgage-backed securities: commercial

37,847

298

(11)

38,134

State and municipal securities

234,691

9,782

(23)

244,450

Total

$

596,133

$

14,473

$

(780)

$

609,826

December 31, 2018

U.S. Treasury securities

$

994

$

0

$

(7)

$

987

U.S. government sponsored agencies

4,435

0

(85)

4,350

Mortgage-backed securities: residential

329,516

1,392

(5,496)

325,412

Mortgage-backed securities: commercial

38,712

0

(571)

38,141

State and municipal securities

217,964

1,403

(2,708)

216,659

Total

$

591,621

$

2,795

$

(8,867)

$

585,549

Schedule of Available-For-Sale Securities By Maturity

Information regarding the fair value and amortized cost of available-for-sale debt securities by maturity as of June 30, 2019 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual

maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty.

Amortized

Fair

(dollars in thousands)

    

Cost

    

Value

Due in one year or less

$

1,655

$

1,664

Due after one year through five years

19,413

19,776

Due after five years through ten years

30,528

31,654

Due after ten years

186,392

194,653

237,988

247,747

Mortgage-backed securities

358,145

362,079

Total debt securities

$

596,133

$

609,826

Schedule of Sales of Securities Available For Sale

Securities proceeds, gross gains and gross losses are presented below.

Three months ended June 30,

Six months ended June 30, 

(dollars in thousands)

    

2019

    

2018

    

2019

    

2018

Sales of securities available-for-sale

Proceeds

$

12,126

$

0

$

25,819

$

12,322

Gross gains

68

0

138

21

Gross losses

(3)

0

(50)

(27)

Number of securities

8

0

25

22

Schedule of Available-For-Sale Securities Continuous Unrealized Loss Position

Information regarding securities with unrealized losses as of June 30, 2019 and December 31, 2018 is presented below. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.

Less than 12 months

12 months or more

Total

Fair

Unrealized

Fair

Unrealized

Fair

Unrealized

(dollars in thousands)

    

Value

    

Losses

    

Value

    

Losses

    

Value

    

Losses

June 30, 2019

U.S. government sponsored agencies

$

0

$

0

$

2,290

$

12

$

2,290

$

12

Mortgage-backed securities: residential

2,411

23

79,874

711

82,285

734

Mortgage-backed securities: commercial

0

0

4,618

11

4,618

11

State and municipal securities

500

0

4,826

23

5,326

23

Total temporarily impaired

$

2,911

$

23

$

91,608

$

757

$

94,519

$

780

December 31, 2018

U.S. Treasury securities

$

0

$

0

$

987

$

7

$

987

$

7

U.S. government sponsored agencies

0

0

4,350

85

4,350

85

Mortgage-backed securities: residential

11,619

12

217,182

5,484

228,801

5,496

Mortgage-backed securities: commercial

0

0

38,141

571

38,141

571

State and municipal securities

26,229

124

85,982

2,584

112,211

2,708

Total temporarily impaired

$

37,848

$

136

$

346,642

$

8,731

$

384,490

$

8,867

Quantitative Disclosure of Available-For-Sale Securities

The total number of securities with unrealized losses as of June 30, 2019 and December 31, 2018 is presented below.

Less than

12 months

    

12 months

    

or more

    

Total

June 30, 2019

U.S. government sponsored agencies

0

1

1

Mortgage-backed securities: residential

1

30

31

Mortgage-backed securities: commercial

0

1

1

State and municipal securities

1

4

5

Total temporarily impaired

2

36

38

December 31, 2018

U.S. Treasury securities

0

1

1

U.S. government sponsored agencies

0

2

2

Mortgage-backed securities: residential

5

84

89

Mortgage-backed securities: commercial

0

9

9

State and municipal securities

35

111

146

Total temporarily impaired

40

207

247