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SECURITIES (Tables)

9 Months Ended

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