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SECURITIES (Tables)

9 Months Ended

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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