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INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2021

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
March 31, 2021
Available-for-sale:
Debt securities:
States and political subdivisions			$	165,180					$	3,355					$	(2,190)					$	166,345					$	—
Corporate securities			47,175						189						(1,197)						46,167						—
U.S. Treasury obligations and direct obligations of U.S Government agencies			41,565						90						(478)						41,177						—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			814,051						13,300						(12,085)						815,266						—
Commercial - U.S. Government agencies and sponsored entities			85,778						1,710						(1,609)						85,879						—
Residential - Non-government agencies			18,318						594						(112)						18,800						—
Commercial - Non-government agencies			41,315						1,392						—						42,707						—
Total available-for-sale securities			$	1,213,382					$	20,630					$	(17,671)					$	1,216,341					$	—

(dollars in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						ACL
December 31, 2020
Available-for-sale:
Debt securities:
States and political subdivisions			$	163,573					$	5,370					$	(177)					$	168,766					$	—
Corporate securities			47,351						788						(131)						48,008						—
U.S. Treasury obligations and direct obligations of U.S Government agencies			33,413						18						(286)						33,145						—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			762,309						16,816						(299)						778,826						—
Commercial - U.S. Government agencies and sponsored entities			85,405						2,564						(500)						87,469						—
Residential - Non-government agencies			22,671						786						(34)						23,423						—
Commercial - Non-government agencies			41,309						1,663						—						42,972						—
Total available-for-sale securities			$	1,156,031					$	28,005					$	(1,427)					$	1,182,609					$	—

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

(dollars in thousands)			Amortized Cost						Fair Value
March 31, 2021
Equity securities			$	1,096					$	1,435
December 31, 2020
Equity securities			1,068						1,351

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 March 31, 2021 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.

			March 31, 2021
(dollars in thousands)			Amortized Cost						Fair Value
Available-for-sale:
Due in one year or less			$	21,146					$	21,381
Due after one year through five years			28,707						29,691
Due after five years through ten years			93,484						93,093
Due after ten years			110,583						109,524
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			814,051						815,266
Commercial - U.S. Government agencies and sponsored entities			85,778						85,879
Residential - Non-government agencies			18,318						18,800
Commercial - Non-government agencies			41,315						42,707
Total available-for-sale securities			$	1,213,382					$	1,216,341

Schedule of investment securities in an unrealized loss position

There were a total of 95 and 37 AFS debt securities which were in an unrealized loss position, without an ACL, at March 31, 2021 and December 31, 2020, respectively. The following tables summarize AFS debt securities which were in an unrealized loss position at March 31, 2021 and December 31, 2020, 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
March 31, 2021
Debt securities:
States and political subdivisions			$	59,427					$	(2,190)					$	—					$	—					$	59,427					$	(2,190)
Corporate securities			30,810						(1,197)						—						—						30,810						(1,197)
U.S. Treasury obligations and direct obligations of U.S Government agencies			14,001						(329)						16,389						(149)						30,390						(478)
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			409,049						(12,085)						—						—						409,049						(12,085)
Residential - Non-government agencies			905						(112)						—						—						905						(112)
Commercial - U.S. Government agencies and sponsored entities			22,398						(1,609)						—						—						22,398						(1,609)
Total temporarily impaired securities			$	536,590					$	(17,522)					$	16,389					$	(149)					$	552,979					$	(17,671)

			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, 2020
Debt securities:
States and political subdivisions			$	21,313					$	(177)					$	—					$	—					$	21,313					$	(177)
Corporate securities			4,869						(131)						—						—						4,869						(131)
U.S. Treasury obligations and direct obligations of U.S Government agencies			5,980						(24)						20,925						(262)						26,905						(286)
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities			76,402						(299)						—						—						76,402						(299)
Residential - Non-government agencies			989						(34)						—						—						989						(34)
Commercial - U.S. Government-sponsored entities			16,977						(500)						—						—						16,977						(500)
Total temporarily impaired securities			$	126,530					$	(1,165)					$	20,925					$	(262)					$	147,455					$	(1,427)

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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
-Topic 946
-SubTopic 320
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