INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Summary of available for sale and held to maturity investment securities



	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

A summary of our available-for-sale investment securities as of December 31, 2019 and 2018 are as follows:



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
December 31, 2019
Available-for-Sale:
Debt securities:
States and political subdivisions	$	119,755	$	2,303	$	(40	)	$	122,018
Corporate securities	30,277		252		—			30,529
U.S. Treasury obligations and direct obligations of U.S Government agencies	40,769		10		(398		)	40,381
Mortgage-backed securities:
Residential - U.S. GSEs	673,918		6,003		(2,099		)	677,822
Residential - Non-government sponsored entities ("Non-GSEs")	36,377		830		(16		)	37,191
Commercial - U.S. GSEs and agencies	80,773		1,198		(746		)	81,225
Commercial - Non-GSEs	134,676		3,141		—			137,817
Total available-for-sale investment securities	$	1,116,545	$	13,737	$	(3,299	)	$	1,126,983

Amortized Cost and Fair Value of Equity Investment Securities

The amortized cost and fair value of our equity investment securities is as follows:



(dollars in thousands)	Amortized Cost	Fair Value
December 31, 2019
Equity securities	935	1,127

December 31, 2018
Equity securities	826	826

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, 2019 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, 2019
	Amortized Cost		Fair Value
	(Dollars in thousands)
Available-for-Sale:
Due in one year or less	$	50,356	$	50,681
Due after one year through five years	46,846		47,258
Due after five years through ten years	62,562		63,695
Due after ten years	31,037		31,294
Mortgage-backed securities
Residential - U.S. GSEs	673,918		677,822
Residential - Non-government sponsored entities ("Non-GSEs")	36,377		37,191
Commercial - U.S. GSEs and agencies	80,773		81,225
Commercial - Non-GSEs	134,676		137,817
Total available-for-sale investment securities	$	1,116,545	$	1,126,983

Schedule of investment securities in an unrealized 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	)

The following table summarizes securities which were in an unrealized or unrecognized loss position at December 31, 2019 and 2018, 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, 2019
Debt securities:
States and political subdivisions	$	1,754	$	(9	)	$	801	$	(31	)	$	2,555	$	(40	)
Corporate securities	—		—			—		—			—		—
U.S. Treasury obligations and direct obligations of U.S Government agencies	18,882		(143		)	19,031		(255		)	37,913		(398		)

Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")	54,335		(283		)	214,295		(1,816		)	268,630		(2,099		)
Residential - Non-government sponsored entities ("Non-GSEs").	8,206		(16		)	—		—			8,206		(16		)
Commercial - U.S. GSEs and agencies	32,067		(746		)	—		—			32,067		(746		)
Total temporarily impaired securities	$	115,244	$	(1,197	)	$	234,127	$	(2,102	)	$	349,371	$	(3,299	)