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v3.19.1

Securities (Tables) | 3 Months Ended
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Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Schedule of Marketable Securities | The following table presents the fair values of our securities portfolio at the dates presented:
(dollars in thousands) | March 31, 2019 |  | December 31, 2018
Debt securities available-for-sale |  | $ | 675,922 |  |  |  | $ | 680,056 |
Marketable equity securities |  | 4,498 |  |  |  | 4,816 |
Total Securities |  | $ | 680,420 |  |  |  | $ | 684,872 |
Schedule of Debt Securities, Available-for-Sale | The following tables present the amortized cost and fair value of debt securities available-for-sale as of the dates presented:
| March 31, 2019 |  | December 31, 2018
(dollars in thousands) | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities |  | $ | 9,961 |  |  |  | $ | — |  |  |  | $ | (124 | ) |  |  | $ | 9,837 |  |  |  | $ | 9,958 |  |  |  | $ | — |  |  |  | $ | (222 | ) |  |  | $ | 9,736 |
Obligations of U.S. government corporations and agencies |  | 129,263 |  |  |  | 373 |  |  |  | (267 | ) |  |  | 129,369 |  |  |  | 129,267 |  |  |  | 68 |  |  |  | (1,074 | ) |  |  | 128,261 |
Collateralized mortgage obligations of U.S. government corporations and agencies |  | 153,717 |  |  |  | 1,608 |  |  |  | (1,166 | ) |  |  | 154,159 |  |  |  | 149,849 |  |  |  | 795 |  |  |  | (1,985 | ) |  |  | 148,659 |
Residential mortgage-backed securities of U.S. government corporations and agencies |  | 22,481 |  |  |  | 229 |  |  |  | (196 | ) |  |  | 22,514 |  |  |  | 24,564 |  |  |  | 203 |  |  |  | (417 | ) |  |  | 24,350 |
Commercial mortgage-backed securities of U.S. government corporations and agencies |  | 239,196 |  |  |  | 272 |  |  |  | (1,914 | ) |  |  | 237,554 |  |  |  | 251,660 |  |  |  | — |  |  |  | (4,876 | ) |  |  | 246,784 |
Obligations of states and political subdivisions |  | 119,020 |  |  |  | 3,480 |  |  |  | (11 | ) |  |  | 122,489 |  |  |  | 119,872 |  |  |  | 2,448 |  |  |  | (54 | ) |  |  | 122,266 |
Total Debt Securities Available-for-Sale |  | $ | 673,638 |  |  |  | $ | 5,962 |  |  |  | $ | (3,678 | ) |  |  | $ | 675,922 |  |  |  | $ | 685,170 |  |  |  | $ | 3,514 |  |  |  | $ | (8,628 | ) |  |  | $ | 680,056 |
Schedule of Temporally Impaired Debt Securities | The following tables present the fair value and the age of gross unrealized losses on debt securities available-for-sale by investment category as of the dates presented:
| March 31, 2019
| Less Than 12 Months |  | 12 Months or More |  | Total
(dollars in thousands) | Number of Securities |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Securities |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Securities |  | Fair Value |  |  | Unrealized Losses |
U.S. Treasury securities | — |  | $ | — |  |  | $ | — |  |  | 1 |  | $ | 9,837 |  |  | $ | (124 | ) |  | 1 |  | $ | 9,837 |  |  | $ | (124 | )
Obligations of U.S. government corporations and agencies | — |  | — |  |  | — |  |  | 8 |  | 65,828 |  |  | (267 | ) |  | 8 |  | 65,828 |  |  | (267 | )
Collateralized mortgage obligations of U.S. government corporations and agencies | 1 |  | 2,367 |  |  | (5 | ) |  | 14 |  | 72,936 |  |  | (1,161 | ) |  | 15 |  | 75,303 |  |  | (1,166 | )
Residential mortgage-backed securities of U.S. government corporations and agencies | — |  | — |  |  | — |  |  | 5 |  | 11,297 |  |  | (196 | ) |  | 5 |  | 11,297 |  |  | (196 | )
Commercial mortgage-backed securities of U.S. government corporations and agencies | — |  | — |  |  | — |  |  | 24 |  | 215,320 |  |  | (1,914 | ) |  | 24 |  | 215,320 |  |  | (1,914 | )
Obligations of states and political subdivisions | — |  | — |  |  | — |  |  | 1 |  | 5,225 |  |  | (11 | ) |  | 1 |  | 5,225 |  |  | (11 | )
Total Temporarily Impaired Debt Securities | 1 |  | $ | 2,367 |  |  | $ | (5 | ) |  | 53 |  | $ | 380,443 |  |  | $ | (3,673 | ) |  | 54 |  | $ | 382,810 |  |  | $ | (3,678 | )
| December 31, 2018
| Less Than 12 Months |  | 12 Months or More |  | Total
(dollars in thousands) | Number of Securities |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Securities |  | Fair Value |  |  | Unrealized Losses |  |  | Number of Securities |  | Fair Value |  |  | Unrealized Losses |
U.S. Treasury securities | — |  | $ | — |  |  | $ | — |  |  | 1 |  | $ | 9,736 |  |  | $ | (222 | ) |  | 1 |  | $ | 9,736 |  |  | $ | (222 | )
Obligations of U.S. government corporations and agencies | 7 |  | 67,649 |  |  | (613 | ) |  | 6 |  | 35,760 |  |  | (461 | ) |  | 13 |  | 103,409 |  |  | (1,074 | )
Collateralized mortgage obligations of U.S. government corporations and agencies | 2 |  | 12,495 |  |  | (44 | ) |  | 14 |  | 76,179 |  |  | (1,941 | ) |  | 16 |  | 88,674 |  |  | (1,985 | )
Residential mortgage-backed securities of U.S. government corporations and agencies | 2 |  | 2,327 |  |  | (45 | ) |  | 3 |  | 9,241 |  |  | (372 | ) |  | 5 |  | 11,568 |  |  | (417 | )
Commercial mortgage-backed securities of U.S. government corporations and agencies | 8 |  | 75,466 |  |  | (1,032 | ) |  | 19 |  | 171,318 |  |  | (3,844 | ) |  | 27 |  | 246,784 |  |  | (4,876 | )
Obligations of states and political subdivisions | 2 |  | 9,902 |  |  | (23 | ) |  | 1 |  | 5,247 |  |  | (31 | ) |  | 3 |  | 15,149 |  |  | (54 | )
Total Temporarily Impaired Debt Securities | 21 |  | $ | 167,839 |  |  | $ | (1,757 | ) |  | 44 |  | $ | 307,481 |  |  | $ | (6,871 | ) |  | 65 |  | $ | 475,320 |  |  | $ | (8,628 | )
Schedule of Unrealized Gains and Losses, Net of Tax, of Debt Securities Available-for-Sale | The following table presents net unrealized gains and losses, net of tax, on debt securities available-for-sale included in accumulated other comprehensive income/(loss), for the periods presented:
| March 31, 2019 |  | December 31, 2018
(dollars in thousands) | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Net Unrealized (Losses)/Gains |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Net Unrealized Gains/(Losses) |
Total unrealized gains/(losses) on debt securities available-for-sale | $ | 5,962 |  |  | $ | (3,678 | ) |  | $ | 2,284 |  |  | $ | 3,514 |  |  | $ | (8,628 | ) |  | $ | (5,114 | )
Income tax (expense) benefit | (1,271 | ) |  | 784 |  |  | (487 | ) |  | (746 | ) |  | 1,832 |  |  | 1,086 |
Net Unrealized Gains/(Losses), Net of Tax Included in Accumulated Other Comprehensive Income/(Loss) | $ | 4,691 |  |  | $ | (2,894 | ) |  | $ | 1,797 |  |  | $ | 2,768 |  |  | $ | (6,796 | ) |  | $ | (4,028 | )
Schedule of Contractual Maturity of Debt Securities Available-for-Sale Securities | The amortized cost and fair value of debt securities available-for-sale at March 31, 2019 by contractual maturity are included in the table below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
| March 31, 2019
(dollars in thousands) | Amortized Cost |  |  | Fair Value |
Obligations of the U.S. Treasury, U.S. government corporations and agencies, and obligations of states and political subdivisions |  |  |
Due in one year or less | $ | 30,673 |  |  | $ | 30,661 |
Due after one year through five years | 137,885 |  |  | 138,709 |
Due after five years through ten years | 66,445 |  |  | 68,060 |
Due after ten years | 23,241 |  |  | 24,265 |
Debt Securities Available-for-Sale With Maturities | 258,244 |  |  | 261,695 |
Collateralized mortgage obligations of U.S. government corporations and agencies | 153,717 |  |  | 154,159 |
Residential mortgage-backed securities of U.S. government corporations and agencies | 22,481 |  |  | 22,514 |
Commercial mortgage-backed securities of U.S. government corporations and agencies | 239,196 |  |  | 237,554 |
Total Debt Securities Available-for-Sale | $ | 673,638 |  |  | $ | 675,922 |
Schedule of Unrealized Gains and Losses on Marketable Equity Securities | The following table presents realized and unrealized net gains and losses for our marketable equity securities for the periods presented:
| Three Months Ended March 31,
(dollars in thousands) | 2019 |  |  | 2018 |
Marketable Equity Securities |  |  |
Net market (losses)/gains recognized | $ | (318 | ) |  | $ | 52 |
Less: Net gains recognized for equity securities sold | — |  |  | — |
Unrealized (Losses)/Gains on Equity Securities Still Held | $ | (318 | ) |  | $ | 52 |

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