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SECURITIES (Tables)

3 Months Ended

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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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
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