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SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2019
SECURITIES |
Summary of carrying balances of securities |
|  | September 30, |  | December 31,
|  | 2019 |  | 2018
|  | (dollars in thousands)
Securities available-for-sale |  | $ | 618,120 |  | $ | 679,526
Securities held-to-maturity |  |  | 99,861 |  |  | 121,715
Equity securities: |  |  |  |  |  |
Readily determinable fair value |  |  | 3,251 |  |  | 3,081
No readily determinable fair value |  |  | 1,185 |  |  | 180
Total securities |  | $ | 722,417 |  | $ | 804,502
Schedule of amortized cost and fair values of securities available-for-sale, with gross unrealized gains and losses |
September 30, 2019 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | 38,633 |  | $ | 947 |  | $ | (6) |  | $ | 39,574
Municipal |  |  | 150,058 |  |  | 2,451 |  |  | (10) |  |  | 152,499
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 215,303 |  |  | 3,182 |  |  | (239) |  |  | 218,246
Agency commercial |  |  | 127,550 |  |  | 2,084 |  |  | (185) |  |  | 129,449
Private-label |  |  | 22 |  |  | — |  |  | — |  |  | 22
Corporate |  |  | 77,202 |  |  | 1,135 |  |  | (7) |  |  | 78,330
Total |  | $ | 608,768 |  | $ | 9,799 |  | $ | (447) |  | $ | 618,120
December 31, 2018 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | 46,977 |  | $ | 250 |  | $ | (361) |  | $ | 46,866
Municipal |  |  | 161,957 |  |  | 761 |  |  | (1,268) |  |  | 161,450
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 235,903 |  |  | 788 |  |  | (2,388) |  |  | 234,303
Agency commercial |  |  | 151,878 |  |  | 285 |  |  | (2,082) |  |  | 150,081
Private-label |  |  | 254 |  |  | 2 |  |  | — |  |  | 256
Corporate |  |  | 87,118 |  |  | 207 |  |  | (755) |  |  | 86,570
Total |  | $ | 684,087 |  | $ | 2,293 |  | $ | (6,854) |  | $ | 679,526
Schedule of carrying value and fair value of securities held-to-maturity, with gross unrealized gains and losses |
September 30, 2019 |  | Carrying Value |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Held-to-maturity: |  | (dollars in thousands)
Municipal |  | $ | 55,182 |  | $ | 1,424 |  | $ | — |  | $ | 56,606
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 20,336 |  |  | 163 |  |  | (145) |  |  | 20,354
Agency commercial |  |  | 24,343 |  |  | 1,093 |  |  | (18) |  |  | 25,418
Total |  | $ | 99,861 |  | $ | 2,680 |  | $ | (163) |  | $ | 102,378
December 31, 2018 |  | Carrying Value |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Held-to-maturity: |  | (dollars in thousands)
Municipal |  | $ | 73,176 |  | $ | 1,149 |  | $ | (42) |  | $ | 74,283
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 23,192 |  |  | — |  |  | (998) |  |  | 22,194
Agency commercial |  |  | 25,347 |  |  | 177 |  |  | (495) |  |  | 25,029
Total |  | $ | 121,715 |  | $ | 1,326 |  | $ | (1,535) |  | $ | 121,506
Schedule of amortized cost and fair value of securities by contractual maturity |
|  | Available-for-Sale |  | Held-to-Maturity
|  | Amortized Cost |  | Fair Value |  | Carrying Value |  | Fair Value
|  | (dollars in thousands)
Due in 1 year or less |  | $ | 55,909 |  | $ | 55,967 |  | $ | 146 |  | $ | 147
Due after 1 year through 5 years |  |  | 112,593 |  |  | 114,296 |  |  | 25,160 |  |  | 25,684
Due after 5 years through 10 years |  |  | 89,863 |  |  | 92,422 |  |  | 26,209 |  |  | 26,941
Due after 10 years |  |  | 7,528 |  |  | 7,718 |  |  | 3,667 |  |  | 3,834
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 215,303 |  |  | 218,246 |  |  | 20,336 |  |  | 20,354
Agency commercial |  |  | 127,550 |  |  | 129,449 |  |  | 24,343 |  |  | 25,418
Private-label |  |  | 22 |  |  | 22 |  |  | — |  |  | —
Total |  | $ | 608,768 |  | $ | 618,120 |  | $ | 99,861 |  | $ | 102,378
Schedule of sales of securities available-for-sale |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
|  | (dollars in thousands)
Proceeds from sales |  | $ | — |  | $ | 15,665 |  | $ | — |  | $ | 15,665
Gross realized gains |  |  | — |  |  | 280 |  |  | — |  |  | 280
Gross realized losses |  |  | — |  |  | (18) |  |  | — |  |  | (18)
Schedule of gains (losses) on securities |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
|  | (dollars in thousands)
Net realized gains on sales |  | $ | — |  | $ | 262 |  | $ | — |  | $ | 262
Net unrealized gains (losses) on equities: |  |  |  |  |  |  |  |  |  |  |  |
Readily determinable fair value |  |  | 55 |  |  | (82) |  |  | 170 |  |  | (112)
No readily determinable fair value |  |  | (128) |  |  | — |  |  | (128) |  |  | —
Gains (losses) on securities |  | $ | (73) |  | $ | 180 |  | $ | 42 |  | $ | 150
Schedule of gross unrealized losses and fair value of investments |
|  | Investments in a Continuous Unrealized Loss Position
|  | Less than 12 Months |  | 12 Months or More |  | Total
September 30, 2019 |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | — |  | $ | — |  | $ | (6) |  | $ | 1,991 |  | $ | (6) |  | $ | 1,991
Municipal |  |  | (7) |  |  | 4,480 |  |  | (3) |  |  | 1,111 |  |  | (10) |  |  | 5,591
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (21) |  |  | 17,348 |  |  | (218) |  |  | 31,241 |  |  | (239) |  |  | 48,589
Agency commercial |  |  | — |  |  | — |  |  | (185) |  |  | 16,678 |  |  | (185) |  |  | 16,678
Corporate |  |  | (5) |  |  | 14,990 |  |  | (2) |  |  | 4,995 |  |  | (7) |  |  | 19,985
Total |  | $ | (33) |  | $ | 36,818 |  | $ | (414) |  | $ | 56,016 |  | $ | (447) |  | $ | 92,834
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  | $ | (16) |  | $ | 3,225 |  | $ | (129) |  | $ | 9,760 |  | $ | (145) |  | $ | 12,985
Agency commercial |  |  | (11) |  |  | 2,226 |  |  | (7) |  |  | 622 |  |  | (18) |  |  | 2,848
Total |  | $ | (27) |  | $ | 5,451 |  | $ | (136) |  | $ | 10,382 |  | $ | (163) |  | $ | 15,833
|  | Investments in a Continuous Unrealized Loss Position
|  | Less than 12 Months |  | 12 Months or More |  | Total
December 31, 2018 |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | (302) |  | $ | 19,079 |  | $ | (59) |  | $ | 7,938 |  | $ | (361) |  | $ | 27,017
Municipal |  |  | (230) |  |  | 31,034 |  |  | (1,038) |  |  | 59,702 |  |  | (1,268) |  |  | 90,736
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (299) |  |  | 40,864 |  |  | (2,089) |  |  | 99,967 |  |  | (2,388) |  |  | 140,831
Agency commercial |  |  | (262) |  |  | 35,462 |  |  | (1,820) |  |  | 81,899 |  |  | (2,082) |  |  | 117,361
Corporate |  |  | (263) |  |  | 20,734 |  |  | (492) |  |  | 39,054 |  |  | (755) |  |  | 59,788
Total |  | $ | (1,356) |  | $ | 147,173 |  | $ | (5,498) |  | $ | 288,560 |  | $ | (6,854) |  | $ | 435,733
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal |  | $ | (32) |  | $ | 4,166 |  | $ | (10) |  | $ | 1,856 |  | $ | (42) |  | $ | 6,022
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (59) |  |  | 4,046 |  |  | (939) |  |  | 17,564 |  |  | (998) |  |  | 21,610
Agency commercial |  |  | (67) |  |  | 8,910 |  |  | (428) |  |  | 10,413 |  |  | (495) |  |  | 19,323
Total |  | $ | (158) |  | $ | 17,122 |  | $ | (1,377) |  | $ | 29,833 |  | $ | (1,535) |  | $ | 46,955

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