INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Summary of available for sale and held to maturity investment securities

of our investment securities portfolio as of December 31, 2018 and 2017 are as follows:



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
December 31, 2018
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")	$	83,436	$	19	$	(3,174	)	$	80,281
Commercial - U.S. GSEs	65,072		—		(1,081		)	63,991
Total held-to-maturity investment securities	$	148,508	$	19	$	(4,255	)	$	144,272

Available-for-Sale:
Debt securities:
States and political subdivisions	$	174,114	$	1,035	$	(1,475	)	$	173,674
Corporate securities	55,259		—		(410		)	54,849
U.S. Treasury obligations and direct obligations of U.S Government agencies	33,257		—		(683		)	32,574
Mortgage-backed securities:
Residential - U.S. GSEs	736,175		369		(19,492		)	717,052
Residential - Non-government sponsored entities ("Non-GSEs")	41,245		337		(464		)	41,118
Commercial - U.S. GSEs and agencies	53,014		—		(1,531		)	51,483
Commercial - Non-GSEs	134,867		1,013		(1,152		)	134,728
Total available-for-sale investment securities	$	1,227,931	$	2,754	$	(25,207	)	$	1,205,478

Equity securities	826		—		—			826



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
December 31, 2017
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")	$	100,279	$	106	$	(2,222	)	$	98,163
Commercial - U.S. GSEs	91,474		—		(436		)	91,038
Total held-to-maturity investment securities	$	191,753	$	106	$	(2,658	)	$	189,201

Available-for-Sale:
Debt securities:
States and political subdivisions	$	178,459	$	2,041	$	(719	)	$	179,781
Corporate securities	73,772		582		(76		)	74,278
U.S. Treasury obligations and direct obligations of U.S Government agencies	25,519		60		(69		)	25,510
Mortgage-backed securities:
Residential - U.S. GSEs	808,242		2,230		(9,789		)	800,683
Residential - Non-government sponsored entities ("Non-GSEs")	45,679		1,084		—			46,763
Commercial - U.S. GSEs and agencies	40,012		—		(287		)	39,725
Commercial - Non-GSEs	135,058		2,461		(193		)	137,326
Total available-for-sale investment securities	$	1,306,741	$	8,458	$	(11,133	)	$	1,304,066

Equity securities	$	825	$	—	$	—		$	825

Schedule of amortized cost and estimated fair value of investment securities by contractual maturity

The amortized cost and estimated fair value of our investment securities at December 31, 2018 by contractual maturity are shown below. Actual maturities may differ from contractual maturities as issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.



	December 31, 2018
	Amortized Cost		Fair Value
	(Dollars in thousands)
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")	$	83,436	$	80,281
Commercial - U.S. GSEs	65,072		63,991
Total held-to-maturity investment securities	$	148,508	$	144,272

Available-for-Sale:
Due in one year or less	$	65,470	$	65,485
Due after one year through five years	95,013		94,653
Due after five years through ten years	48,081		47,809
Due after ten years	54,066		53,150
Mortgage-backed securities
Residential - U.S. GSEs	736,175		717,052
Residential - Non-government sponsored entities ("Non-GSEs")	41,245		41,118
Commercial - U.S. GSEs and agencies	53,014		51,483
Commercial - Non-GSEs	134,867		134,728
Total available-for-sale investment securities	$	1,227,931	$	1,205,478

Equity securities	$	826	$	826

Schedule of investment securities in an unrealized loss position

The following table summarizes securities which were in an unrealized or unrecognized loss position at December 31, 2018 and 2017, aggregated by major security type and length of time in a continuous unrealized or unrecognized loss position:



	Less Than 12 Months					12 Months or Longer					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
December 31, 2018
Debt securities:
States and political subdivisions	$	38,099	$	(157	)	$	49,505	$	(1,318	)	$	87,604	$	(1,475	)
Corporate securities	49,729		(250		)	5,120		(160		)	54,849		(410		)
U.S. Treasury obligations and direct obligations of U.S Government agencies	30,029		(613		)	2,545		(70		)	32,574		(683		)

Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")	88,957		(1,229		)	666,685		(21,437		)	755,642		(22,666		)
Residential - Non-government sponsored entities ("Non-GSEs").	—		—			24,515		(464		)	24,515		(464		)
Commercial - U.S. GSEs and agencies	13,973		(247		)	101,500		(2,365		)	115,473		(2,612		)
Commercial - Non-GSEs	33,847		(233		)	46,680		(919		)	80,527		(1,152		)
Total temporarily impaired securities	$	254,634	$	(2,729	)	$	896,550	$	(26,733	)	$	1,151,184	$	(29,462	)



	Less Than 12 Months					12 Months or Longer					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
December 31, 2017
Debt securities:
States and political subdivisions	$	53,811	$	(305	)	$	15,403	$	(414	)	$	69,214	$	(719	)
Corporate securities	—		—			5,307		(76		)	5,307		(76		)
U.S. Treasury obligations and direct obligations of U.S Government agencies	10,740		(69		)	—		—			10,740		(69		)

Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")	335,883		(3,372		)	340,219		(8,639		)	676,102		(12,011		)
Commercial - U.S. GSEs and agencies	130,763		(723		)	—		—			130,763		(723		)
Commercial - Non-GSEs	28,490		(193		)	—		—			28,490		(193		)
Total temporarily impaired securities	$	559,687	$	(4,662	)	$	360,929	$	(9,129	)	$	920,616	$	(13,791	)