XML 40 R29.htm IDEA: XBRL DOCUMENT v3.20.2

INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Summary of available for sale and held to maturity investment securities

are as follows:

(dollars in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						ACL
June 30, 2020
Available-for-sale:
Debt securities:
States and political subdivisions			$	136,597					$	4,882					$	(11)					$	141,468					$	—
Corporate securities			29,221						531						—						29,752						—
U.S. Treasury obligations and direct obligations of U.S Government agencies			36,802						25						(473)						36,354						—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			692,989						21,516						(28)						714,477						—
Commercial - U.S. Government agencies and sponsored entities			77,743						2,926						(4)						80,665						—
Residential - Non-government agencies			30,697						1,389						—						32,086						—
Commercial - Non-government agencies			131,679						2,290						(177)						133,792						—
Total available-for-sale securities			$	1,135,728					$	33,559					$	(693)					$	1,168,594					$	—

The amortized cost, gross unrealized gains and losses and fair value of AFS debt securities are as follows:

(dollars in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
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. Government-sponsored entities			673,918						6,003						(2,099)						677,822
Commercial - U.S. Government agencies and sponsored entities			80,773						1,198						(746)						81,225
Residential - Non-government agencies			36,377						830						(16)						37,191
Commercial - Non-government agencies			134,676						3,141						—						137,817
Total available-for-sale securities			$	1,116,545					$	13,737					$	(3,299)					$	1,126,983

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

(dollars in thousands)			Amortized Cost						Fair Value
June 30, 2020
Equity securities			$	1,064					$	1,209
December 31, 2019
Equity securities			935						1,127

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

The amortized cost and estimated fair value of our AFS debt securities at June 30, 2020 are shown below by contractual maturity. Expected maturities may differ from contractual maturities because issuers may 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.

			June 30, 2020
(dollars in thousands)			Amortized Cost						Fair Value
Available-for-sale:
Due in one year or less			$	44,455					$	44,638
Due after one year through five years			43,905						44,632
Due after five years through ten years			69,693						72,675
Due after ten years			44,567						45,629
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			692,989						714,477
Commercial - U.S. Government agencies and sponsored entities			77,743						80,665
Residential - Non-government agencies			30,697						32,086
Commercial - Non-government agencies			131,679						133,792
Total available-for-sale securities			$	1,135,728					$	1,168,594

Schedule of investment securities in an unrealized loss position

There were a total of 25 and 81 AFS debt securities which were in an unrealized loss position, without an ACL, at June 30, 2020 and December 31, 2019, respectively. The following tables summarize AFS debt securities which were in an unrealized loss position at June 30, 2020 and December 31, 2019, aggregated by major security type and length of time in a continuous unrealized loss position.

			Less Than 12 Months																		12 Months or Longer																		Total
(dollars in thousands)			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
June 30, 2020
Debt securities:
States and political subdivisions			$	3,631					$	(11)					$	—					$	—					$	3,631					$	(11)
Corporate securities			—						—						—						—						—						—
U.S. Treasury obligations and direct obligations of U.S Government agencies			10,867						(187)						18,458						(286)						29,325						(473)
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			4,505						(28)						—						—						4,505						(28)
Residential - Non-government agencies			—						—						—						—						—						—
Commercial - U.S. Government agencies and sponsored entities			1,781						(4)						—						—						1,781						(4)
Commercial - Non-government agencies			26,729						(177)						—						—						26,729						(177)
Total temporarily impaired securities			$	47,513					$	(407)					$	18,458					$	(286)					$	65,971					$	(693)

			Less Than 12 Months																		12 Months or Longer																		Total
(dollars in thousands)			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
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			54,335						(283)						214,295						(1,816)						268,630						(2,099)
Residential - Non-government agencies			8,206						(16)						—						—						8,206						(16)
Commercial - U.S. Government-sponsored entities			32,067						(746)						—						—						32,067						(746)
Total temporarily impaired securities			$	115,244					$	(1,197)					$	234,127					$	(2,102)					$	349,371					$	(3,299)

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563

+ Details

Name:	us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the summary of investment holdings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-12C)
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010

+ Details

Name:	us-gaap_SummaryInvestmentHoldingsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration