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SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2020
SECURITIES |
Summary of carrying balances of securities |
|  | September 30, |  | December 31,
|  | 2020 |  | 2019
|  | (dollars in thousands)
Debt securities available-for-sale |  | $ | 814,798 |  | $ | 592,404
Debt securities held-to-maturity |  |  | 74,510 |  |  | 88,477
Equity securities: |  |  |  |  |  |
Readily determinable fair value |  |  | 3,262 |  |  | 3,241
No readily determinable fair value |  |  | 1,552 |  |  | 1,148
Total securities |  | $ | 894,122 |  | $ | 685,270
Schedule of amortized cost and fair values of debt securities, with gross unrealized gains and losses. |
September 30, 2020 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | 100,462 |  | $ | 3,866 |  | $ | (2) |  | $ | 104,326
Municipal |  |  | 232,795 |  |  | 7,962 |  |  | (347) |  |  | 240,410
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 220,970 |  |  | 5,462 |  |  | (115) |  |  | 226,317
Agency commercial |  |  | 166,444 |  |  | 4,831 |  |  | (203) |  |  | 171,072
Corporate |  |  | 70,862 |  |  | 1,907 |  |  | (96) |  |  | 72,673
Total available-for-sale |  |  | 791,533 |  |  | 24,028 |  |  | (763) |  |  | 814,798
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Municipal |  |  | 26,830 |  |  | 1,480 |  |  | — |  |  | 28,310
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 14,556 |  |  | 523 |  |  | — |  |  | 15,079
Agency commercial |  |  | 33,124 |  |  | 2,378 |  |  | — |  |  | 35,502
Total held-to-maturity |  |  | 74,510 |  |  | 4,381 |  |  | — |  |  | 78,891
Total debt securities |  | $ | 866,043 |  | $ | 28,409 |  | $ | (763) |  | $ | 893,689
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 |  | $ | 36,762 |  | $ | 37,033 |  | $ | 747 |  | $ | 749
Due after 1 year through 5 years |  |  | 85,100 |  |  | 87,897 |  |  | 14,702 |  |  | 15,452
Due after 5 years through 10 years |  |  | 183,944 |  |  | 191,538 |  |  | 10,490 |  |  | 11,186
Due after 10 years |  |  | 98,313 |  |  | 100,941 |  |  | 891 |  |  | 923
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 220,970 |  |  | 226,317 |  |  | 14,556 |  |  | 15,079
Agency commercial |  |  | 166,444 |  |  | 171,072 |  |  | 33,124 |  |  | 35,502
Total |  | $ | 791,533 |  | $ | 814,798 |  | $ | 74,510 |  | $ | 78,891
Schedule of gains (losses) on securities |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (dollars in thousands)
Net realized gains (losses) on sales |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Net unrealized gains (losses) on equities: |  |  |  |  |  |  |  |  |  |  |  |
Readily determinable fair value |  |  | (2) |  |  | 55 |  |  | 3 |  |  | 170
No readily determinable fair value |  |  | — |  |  | (128) |  |  | — |  |  | (128)
Gains (losses) on securities |  | $ | (2) |  | $ | (73) |  | $ | 3 |  | $ | 42
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, 2020 |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | (2) |  | $ | 3,493 |  | $ | — |  | $ | — |  | $ | (2) |  | $ | 3,493
Municipal |  |  | (347) |  |  | 28,955 |  |  | — |  |  | — |  |  | (347) |  |  | 28,955
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (101) |  |  | 20,386 |  |  | (14) |  |  | 4,378 |  |  | (115) |  |  | 24,764
Agency commercial |  |  | (177) |  |  | 22,668 |  |  | (26) |  |  | 3,471 |  |  | (203) |  |  | 26,139
Corporate |  |  | (96) |  |  | 9,858 |  |  | — |  |  | — |  |  | (96) |  |  | 9,858
Total available-for-sale |  |  | (723) |  |  | 85,360 |  |  | (40) |  |  | 7,849 |  |  | (763) |  |  | 93,209
Total debt securities |  | $ | (723) |  | $ | 85,360 |  | $ | (40) |  | $ | 7,849 |  | $ | (763) |  | $ | 93,209
|  | 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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