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v3.20.1

SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2020
SECURITIES |
Summary of carrying balances of securities |
|  | March 31, |  | December 31,
|  | 2020 |  | 2019
|  | (dollars in thousands)
Debt securities available-for-sale |  | $ | 615,565 |  | $ | 592,404
Debt securities held-to-maturity |  |  | 79,741 |  |  | 88,477
Equity securities: |  |  |  |  |  |
Readily determinable fair value |  |  | 3,207 |  |  | 3,241
No readily determinable fair value |  |  | 1,552 |  |  | 1,148
Total securities |  | $ | 700,065 |  | $ | 685,270
Schedule of amortized cost and fair values of debt securities, with gross unrealized gains and losses. |
March 31, 2020 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | 48,983 |  | $ | 2,192 |  | $ | — |  | $ | 51,175
Municipal |  |  | 164,853 |  |  | 3,577 |  |  | (185) |  |  | 168,245
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 184,507 |  |  | 5,015 |  |  | (904) |  |  | 188,618
Agency commercial |  |  | 128,583 |  |  | 4,050 |  |  | (116) |  |  | 132,517
Corporate |  |  | 73,140 |  |  | 1,928 |  |  | (58) |  |  | 75,010
Total available-for-sale |  |  | 600,066 |  |  | 16,762 |  |  | (1,263) |  |  | 615,565
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Municipal |  |  | 32,780 |  |  | 1,198 |  |  | — |  |  | 33,978
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 17,989 |  |  | 471 |  |  | (16) |  |  | 18,444
Agency commercial |  |  | 28,972 |  |  | 2,173 |  |  | (3) |  |  | 31,142
Total held-to-maturity |  |  | 79,741 |  |  | 3,842 |  |  | (19) |  |  | 83,564
Total debt securities |  | $ | 679,807 |  | $ | 20,604 |  | $ | (1,282) |  | $ | 699,129
December 31, 2019 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | 49,113 |  | $ | 529 |  | $ | (27) |  | $ | 49,615
Municipal |  |  | 131,241 |  |  | 2,503 |  |  | (6) |  |  | 133,738
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 198,184 |  |  | 2,780 |  |  | (286) |  |  | 200,678
Agency commercial |  |  | 133,730 |  |  | 1,516 |  |  | (292) |  |  | 134,954
Corporate |  |  | 72,239 |  |  | 1,180 |  |  | — |  |  | 73,419
Total available-for-sale |  |  | 584,507 |  |  | 8,508 |  |  | (611) |  |  | 592,404
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Municipal |  |  | 45,239 |  |  | 1,340 |  |  | — |  |  | 46,579
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 19,072 |  |  | 161 |  |  | (170) |  |  | 19,063
Agency commercial |  |  | 24,166 |  |  | 775 |  |  | (54) |  |  | 24,887
Total held-to-maturity |  |  | 88,477 |  |  | 2,276 |  |  | (224) |  |  | 90,529
Total debt securities |  | $ | 672,984 |  | $ | 10,784 |  | $ | (835) |  | $ | 682,933
Schedule of amortized cost and fair value of securities by contractual maturity |
|  | Available-for-Sale |  | Held-to-Maturity
|  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
|  | (dollars in thousands)
Due in 1 year or less |  | $ | 47,084 |  | $ | 47,237 |  | $ | 750 |  | $ | 755
Due after 1 year through 5 years |  |  | 93,864 |  |  | 95,997 |  |  | 17,243 |  |  | 17,745
Due after 5 years through 10 years |  |  | 120,398 |  |  | 124,689 |  |  | 13,896 |  |  | 14,551
Due after 10 years |  |  | 25,630 |  |  | 26,507 |  |  | 891 |  |  | 927
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 184,507 |  |  | 188,618 |  |  | 17,989 |  |  | 18,444
Agency commercial |  |  | 128,583 |  |  | 132,517 |  |  | 28,972 |  |  | 31,142
Total |  | $ | 600,066 |  | $ | 615,565 |  | $ | 79,741 |  | $ | 83,564
Schedule of gains (losses) on securities |
| Three Months Ended March 31, |
| 2020 |  | 2019 |
| (dollars in thousands) |
Net realized gains (losses) on sales | $ | — |  | $ | — |
Net unrealized gains (losses) on equities: |  |  |  |  |  |
Readily determinable fair value |  | (52) |  |  | 79 |
No readily determinable fair value |  | — |  |  | — |
Gains (losses) on securities | $ | (52) |  | $ | 79 |
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
March 31, 2020 |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
Municipal |  | $ | (185) |  | $ | 5,049 |  | $ | — |  | $ | — |  | $ | (185) |  | $ | 5,049
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (648) |  |  | 34,061 |  |  | (256) |  |  | 8,442 |  |  | (904) |  |  | 42,503
Agency commercial |  |  | — |  |  | — |  |  | (116) |  |  | 14,322 |  |  | (116) |  |  | 14,322
Corporate |  |  | (58) |  |  | 6,942 |  |  | — |  |  | — |  |  | (58) |  |  | 6,942
Total available-for-sale |  |  | (891) |  |  | 46,052 |  |  | (372) |  |  | 22,764 |  |  | (1,263) |  |  | 68,816
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | — |  |  | — |  |  | (16) |  |  | 1,549 |  |  | (16) |  |  | 1,549
Agency commercial |  |  | — |  |  | — |  |  | (3) |  |  | 534 |  |  | (3) |  |  | 534
Total held-to-maturity |  |  | — |  |  | — |  |  | (19) |  |  | 2,083 |  |  | (19) |  |  | 2,083
Total debt securities |  | $ | (891) |  | $ | 46,052 |  | $ | (391) |  | $ | 24,847 |  | $ | (1,282) |  | $ | 70,899
|  | Investments in a Continuous Unrealized Loss Position
|  | Less than 12 Months |  | 12 Months or More |  | Total
December 31, 2019 |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | (26) |  | $ | 18,865 |  | $ | (1) |  | $ | 1,998 |  | $ | (27) |  | $ | 20,863
Municipal |  |  | (6) |  |  | 894 |  |  | — |  |  | — |  |  | (6) |  |  | 894
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (108) |  |  | 25,563 |  |  | (178) |  |  | 27,296 |  |  | (286) |  |  | 52,859
Agency commercial |  |  | (100) |  |  | 20,056 |  |  | (192) |  |  | 15,704 |  |  | (292) |  |  | 35,760
Total available-for-sale |  | $ | (240) |  | $ | 65,378 |  | $ | (371) |  | $ | 44,998 |  | $ | (611) |  | $ | 110,376
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  | $ | (30) |  | $ | 2,516 |  | $ | (140) |  | $ | 9,002 |  | $ | (170) |  | $ | 11,518
Agency commercial |  |  | (47) |  |  | 7,016 |  |  | (7) |  |  | 599 |  |  | (54) |  |  | 7,615
Total held-to-maturity |  |  | (77) |  |  | 9,532 |  |  | (147) |  |  | 9,601 |  |  | (224) |  |  | 19,133
Total debt securities |  | $ | (317) |  | $ | 74,910 |  | $ | (518) |  | $ | 54,599 |  | $ | (835) |  | $ | 129,509

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