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INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 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
September 30, 2020
Available-for-sale:
Debt securities:
States and political subdivisions			$	163,642					$	5,239					$	(292)					$	168,589					$	—
Corporate securities			50,318						471						(231)						50,558						—
U.S. Treasury obligations and direct obligations of U.S Government agencies			35,115						41						(212)						34,944						—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			743,786						20,395						(855)						763,326						—
Commercial - U.S. Government agencies and sponsored entities			71,335						2,451						—						73,786						—
Residential - Non-government agencies			27,525						1,185						(34)						28,676						—
Commercial - Non-government agencies			44,814						1,641						(15)						46,440						—
Total available-for-sale securities			$	1,136,535					$	31,423					$	(1,639)					$	1,166,319					$	—

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
September 30, 2020
Equity securities			$	1,027					$	1,204
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 September 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.

			September 30, 2020
(dollars in thousands)			Amortized Cost						Fair Value
Available-for-sale:
Due in one year or less			$	27,260					$	27,378
Due after one year through five years			40,800						42,098
Due after five years through ten years			89,879						92,226
Due after ten years			91,136						92,389
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			743,786						763,326
Commercial - U.S. Government agencies and sponsored entities			71,335						73,786
Residential - Non-government agencies			27,525						28,676
Commercial - Non-government agencies			44,814						46,440
Total available-for-sale securities			$	1,136,535					$	1,166,319

Schedule of investment securities in an unrealized loss position

There were a total of 48 and 81 AFS debt securities which were in an unrealized loss position, without an ACL, at September 30, 2020 and December 31, 2019, respectively. The following tables summarize AFS debt securities which were in an unrealized loss position at September 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
September 30, 2020
Debt securities:
States and political subdivisions			$	39,297					$	(292)					$	—					$	—					$	39,297					$	(292)
Corporate securities			26,173						(231)						—						—						26,173						(231)
U.S. Treasury obligations and direct obligations of U.S Government agencies			4,805						(30)						22,141						(182)						26,946						(212)
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			122,914						(855)						—						—						122,914						(855)
Residential - Non-government agencies			994						(34)						—						—						994						(34)
Commercial - Non-government agencies			3,495						(15)						—						—						3,495						(15)
Total temporarily impaired securities			$	197,678					$	(1,457)					$	22,141					$	(182)					$	219,819					$	(1,639)

			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)
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)

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

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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).

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Tabular disclosure of the summary of investment holdings.

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-Name Accounting Standards Codification
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