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SECURITIES (Tables)

6 Months Ended

Jun. 30, 2020

SECURITIES

Summary of carrying balances of securities

		June 30,			December 31,
		2020			2019
		(dollars in thousands)
Debt securities available-for-sale		$	701,353		$	592,404
Debt securities held-to-maturity			73,823			88,477
Equity securities:
Readily determinable fair value			3,263			3,241
No readily determinable fair value			1,552			1,148
Total securities		$	779,991		$	685,270

Schedule of amortized cost and fair values of debt securities, with gross unrealized gains and losses.

June 30, 2020		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value
Available-for-sale:		(dollars in thousands)
U.S. government agency		$	75,881		$	3,061		$	(7)		$	78,935
Municipal			191,453			6,885			(28)			198,310
Mortgage-backed:
Agency residential			211,577			5,393			(101)			216,869
Agency commercial			133,149			5,022			(22)			138,149
Corporate			67,204			1,962			(76)			69,090
Total available-for-sale			679,264			22,323			(234)			701,353
Held-to-maturity:
Municipal			28,528			1,507			—			30,035
Mortgage-backed:
Agency residential			16,516			567			—			17,083
Agency commercial			28,779			2,420			—			31,199
Total held-to-maturity			73,823			4,494			—			78,317
Total debt securities		$	753,087		$	26,817		$	(234)		$	779,670

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		$	32,518		$	32,748		$	748		$	754
Due after 1 year through 5 years			92,615			95,593			14,963			15,733
Due after 5 years through 10 years			151,731			158,201			11,926			12,620
Due after 10 years			57,674			59,793			891			928
Mortgage-backed:
Agency residential			211,577			216,869			16,516			17,083
Agency commercial			133,149			138,149			28,779			31,199
Total		$	679,264		$	701,353		$	73,823		$	78,317

Schedule of gains (losses) on securities

		Three Months Ended June 30,						Six Months Ended June 30,
		2020			2019			2020			2019
		(dollars in thousands)
Net realized gains (losses) on sales		$	—		$	—		$	—		$	—
Net unrealized gains (losses) on equities:
Readily determinable fair value			57			36			5			115
No readily determinable fair value			—			—			—			—
Gains (losses) on securities		$	57		$	36		$	5		$	115

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
June 30, 2020		Unrealized Loss			Fair Value			Unrealized Loss			Fair Value			Unrealized Loss			Fair Value
Available-for-sale:		(dollars in thousands)
U.S. government agency		$	(7)		$	3,605		$	—		$	—		$	(7)		$	3,605
Municipal			(28)			4,989			—			—			(28)			4,989
Mortgage-backed:
Agency residential			(77)			15,955			(24)			7,194			(101)			23,149
Agency commercial			—			—			(22)			6,038			(22)			6,038
Corporate			(76)			9,924			—			—			(76)			9,924
Total available-for-sale			(188)			34,473			(46)			13,232			(234)			47,705
Total debt securities		$	(188)		$	34,473		$	(46)		$	13,232		$	(234)		$	47,705

		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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