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Securities (Tables)
12 Months Ended
Dec. 31, 2018
Schedule Of Debt Securities [Line Items]  
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity

The amortized cost and estimated fair value of debt securities at December 31, 2018, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

 

Available for Sale Securities

 

 

Held to Maturity Securities

 

 

 

Amortized

 

 

Fair

 

 

Amortized

 

 

Fair

 

(Dollars in thousands)

 

Cost

 

 

Value

 

 

Cost

 

 

Value

 

Due in one year or less

 

$

97,927

 

 

$

97,560

 

 

$

 

 

$

 

Due from one year to five years

 

 

142,072

 

 

 

141,574

 

 

 

 

 

 

 

Due from five years to ten years

 

 

33,653

 

 

 

33,370

 

 

 

6,648

 

 

 

5,713

 

Due after ten years

 

 

9,434

 

 

 

9,314

 

 

 

1,839

 

 

 

1,613

 

 

 

 

283,086

 

 

 

281,818

 

 

 

8,487

 

 

 

7,326

 

Mortgage-backed securities, residential

 

 

39,971

 

 

 

39,736

 

 

 

 

 

 

 

Asset backed securities

 

 

10,165

 

 

 

10,145

 

 

 

 

 

 

 

SBA pooled securities

 

 

4,766

 

 

 

4,724

 

 

 

 

 

 

 

 

 

$

337,988

 

 

$

336,423

 

 

$

8,487

 

 

$

7,326

 

Schedule of Proceeds from Sales of Debt Securities and the Associated Gross Gains and Losses

Proceeds from sales of debt securities and the associated gross gains and losses are as follows:

(Dollars in thousands)

 

2018

 

 

2017

 

 

2016

 

Proceeds

 

$

123,016

 

 

$

32,441

 

 

$

34,338

 

Gross gains

 

 

5

 

 

 

35

 

 

 

17

 

Gross losses

 

 

(277

)

 

 

 

 

 

(73

)

Schedule of Information Pertaining to Debt Securities with Gross Unrealized Losses

Information pertaining to debt securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are summarized as follows:

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

(Dollars in thousands)

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

December 31, 2018

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

17,203

 

 

$

(83

)

 

$

72,471

 

 

$

(778

)

 

$

89,674

 

 

$

(861

)

U.S. Treasury notes

 

 

 

 

 

 

 

 

1,932

 

 

 

(24

)

 

 

1,932

 

 

 

(24

)

Mortgage-backed securities, residential

 

 

9,334

 

 

 

(97

)

 

 

13,910

 

 

 

(360

)

 

 

23,244

 

 

 

(457

)

Asset backed securities

 

 

197

 

 

 

(1

)

 

 

4,970

 

 

 

(30

)

 

 

5,167

 

 

 

(31

)

State and municipal

 

 

31,142

 

 

 

(201

)

 

 

22,478

 

 

 

(349

)

 

 

53,620

 

 

 

(550

)

Corporate bonds

 

 

41,874

 

 

 

(166

)

 

 

149

 

 

 

(1

)

 

 

42,023

 

 

 

(167

)

SBA pooled securities

 

 

2,602

 

 

 

(20

)

 

 

1,451

 

 

 

(27

)

 

 

4,053

 

 

 

(47

)

Total available for sale securities

 

$

102,352

 

 

$

(568

)

 

$

117,361

 

 

$

(1,569

)

 

$

219,713

 

 

$

(2,137

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

(Dollars in thousands)

 

Fair

 

 

Unrecognized

 

 

Fair

 

 

Unrecognized

 

 

Fair

 

 

Unrecognized

 

December 31, 2018

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLO securities

 

$

2,861

 

 

$

(242

)

 

$

4,465

 

 

$

(919

)

 

$

7,326

 

 

$

(1,161

)

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

(Dollars in thousands)

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

December 31, 2017

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

47,605

 

 

$

(166

)

 

$

40,053

 

 

$

(551

)

 

$

87,658

 

 

$

(717

)

U.S. Treasury notes

 

 

1,934

 

 

 

(6

)

 

 

 

 

 

 

 

 

1,934

 

 

 

(6

)

Mortgage-backed securities, residential

 

 

10,349

 

 

 

(21

)

 

 

6,200

 

 

 

(159

)

 

 

16,549

 

 

 

(180

)

Asset backed securities

 

 

4,898

 

 

 

(85

)

 

 

 

 

 

 

 

 

4,898

 

 

 

(85

)

State and municipal

 

 

32,257

 

 

 

(216

)

 

 

12,138

 

 

 

(227

)

 

 

44,395

 

 

 

(443

)

Corporate bonds

 

 

4,073

 

 

 

(2

)

 

 

149

 

 

 

(1

)

 

 

4,222

 

 

 

(3

)

SBA pooled securities

 

 

1,654

 

 

 

(2

)

 

 

 

 

 

 

 

 

1,654

 

 

 

(2

)

Total available for sale securities

 

$

102,770

 

 

$

(498

)

 

$

58,540

 

 

$

(938

)

 

$

161,310

 

 

$

(1,436

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

(Dollars in thousands)

 

Fair

 

 

Unrecognized

 

 

Fair

 

 

Unrecognized

 

 

Fair

 

 

Unrecognized

 

December 31, 2017

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLO securities

 

$

1,835

 

 

$

(28

)

 

$

5,692

 

 

$

(1,002

)

 

$

7,527

 

 

$

(1,030

)

Debt Securities [Member]  
Schedule Of Debt Securities [Line Items]  
Schedule of Amortized Cost of Securities and Their Approximate Fair Values

Debt securities have been classified in the financial statements as available for sale or held to maturity. The amortized cost of securities and their approximate fair values are as follows:

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

(Dollars in thousands)

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

December 31, 2018

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

93,500

 

 

$

9

 

 

$

(861

)

 

$

92,648

 

U.S. Treasury notes

 

 

1,956

 

 

 

 

 

 

(24

)

 

 

1,932

 

Mortgage-backed securities, residential

 

 

39,971

 

 

 

222

 

 

 

(457

)

 

 

39,736

 

Asset backed securities

 

 

10,165

 

 

 

11

 

 

 

(31

)

 

 

10,145

 

State and municipal

 

 

118,826

 

 

 

175

 

 

 

(550

)

 

 

118,451

 

Corporate bonds

 

 

68,804

 

 

 

150

 

 

 

(167

)

 

 

68,787

 

SBA pooled securities

 

 

4,766

 

 

 

5

 

 

 

(47

)

 

 

4,724

 

Total available for sale securities

 

$

337,988

 

 

$

572

 

 

$

(2,137

)

 

$

336,423

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

(Dollars in thousands)

 

Amortized

 

 

Unrecognized

 

 

Unrecognized

 

 

Fair

 

December 31, 2018

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLO securities

 

$

8,487

 

 

$

 

 

$

(1,161

)

 

$

7,326

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

(Dollars in thousands)

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

December 31, 2017

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Available for sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency obligations

 

$

110,531

 

 

$

76

 

 

$

(717

)

 

$

109,890

 

U.S. Treasury notes

 

 

1,940

 

 

 

 

 

 

(6

)

 

 

1,934

 

Mortgage-backed securities, residential

 

 

33,537

 

 

 

306

 

 

 

(180

)

 

 

33,663

 

Asset backed securities

 

 

11,883

 

 

 

47

 

 

 

(85

)

 

 

11,845

 

State and municipal

 

 

74,684

 

 

 

150

 

 

 

(443

)

 

 

74,391

 

Corporate bonds

 

 

15,271

 

 

 

52

 

 

 

(3

)

 

 

15,320

 

SBA pooled securities

 

 

3,535

 

 

 

27

 

 

 

(2

)

 

 

3,560

 

Total available for sale securities

 

$

251,381

 

 

$

658

 

 

$

(1,436

)

 

$

250,603

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

(Dollars in thousands)

 

Amortized

 

 

Unrecognized

 

 

Unrecognized

 

 

Fair

 

December 31, 2017

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Held to maturity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CLO securities

 

$

8,557

 

 

$

 

 

$

(1,030

)

 

$

7,527