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SECURITIES (Tables) | 12 Months Ended
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Dec. 31, 2020
SECURITIES |
Summary of carrying balances of securities |
|  | December 31, |  | December 31,
|  | 2020 |  | 2019
|  | (dollars in thousands)
Debt securities available-for-sale |  | $ | 922,869 |  | $ | 592,404
Debt securities held-to-maturity |  |  | 68,395 |  |  | 88,477
Equity securities: |  |  |  |  |  |
Readily determinable fair value |  |  | 3,292 |  |  | 3,241
No readily determinable fair value |  |  | 1,552 |  |  | 1,148
Total securities |  | $ | 996,108 |  | $ | 685,270
Schedule of sales of securities available-for-sale |
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (dollars in thousands)
Proceeds from sales |  | $ | — |  |  | — |  | $ | 104,303
Gross realized gains |  |  | — |  |  | — |  |  | 281
Gross realized losses |  |  | — |  |  | — |  |  | (2,822)
Schedule of gains (losses) on securities |
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (dollars in thousands)
Net realized losses on sales |  | $ | — |  |  | — |  | $ | (2,541)
Net unrealized gains (losses) on equity securities: |  |  |  |  |  |  |  |  |
Readily determinable fair value |  |  | 33 |  |  | 160 |  |  | (122)
No readily determinable fair value |  |  | — |  |  | (165) |  |  | —
Gains (losses) on securities |  | $ | 33 |  |  | (5) |  | $ | (2,663)
Schedule of amortized cost and fair values of securities available-for-sale, with gross unrealized gains and losses |
December 31, 2020 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | 118,282 |  | $ | 3,720 |  | $ | (9) |  | $ | 121,993
Municipal |  |  | 265,309 |  |  | 9,232 |  |  | (280) |  |  | 274,261
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 198,543 |  |  | 4,871 |  |  | (162) |  |  | 203,252
Agency commercial |  |  | 246,649 |  |  | 4,651 |  |  | (534) |  |  | 250,766
Corporate |  |  | 70,917 |  |  | 1,786 |  |  | (106) |  |  | 72,597
Total available-for-sale |  |  | 899,700 |  |  | 24,260 |  |  | (1,091) |  |  | 922,869
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
Municipal |  |  | 22,484 |  |  | 1,390 |  |  | — |  |  | 23,874
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 13,031 |  |  | 452 |  |  | — |  |  | 13,483
Agency commercial |  |  | 32,880 |  |  | 2,222 |  |  | (18) |  |  | 35,084
Total held-to-maturity |  |  | 68,395 |  |  | 4,064 |  |  | (18) |  |  | 72,441
Total debt securities |  | $ | 968,095 |  | $ | 28,324 |  | $ | (1,109) |  | $ | 995,310
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 |  | $ | 28,332 |  | $ | 28,626 |  | $ | 1,396 |  | $ | 1,424
Due after 1 year through 5 years |  |  | 82,778 |  |  | 85,859 |  |  | 13,895 |  |  | 14,806
Due after 5 years through 10 years |  |  | 210,971 |  |  | 218,710 |  |  | 6,302 |  |  | 6,723
Due after 10 years |  |  | 132,427 |  |  | 135,656 |  |  | 891 |  |  | 921
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | 198,543 |  |  | 203,252 |  |  | 13,031 |  |  | 13,483
Agency commercial |  |  | 246,649 |  |  | 250,766 |  |  | 32,880 |  |  | 35,084
Total |  | $ | 899,700 |  | $ | 922,869 |  | $ | 68,395 |  | $ | 72,441
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
December 31, 2020 |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value
Available-for-sale: |  | (dollars in thousands)
U.S. government agency |  | $ | (9) |  | $ | 5,919 |  | $ | — |  | $ | — |  | $ | (9) |  | $ | 5,919
Municipal |  |  | (280) |  |  | 19,652 |  |  | — |  |  | — |  |  | (280) |  |  | 19,652
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency residential |  |  | (142) |  |  | 20,387 |  |  | (20) |  |  | 4,490 |  |  | (162) |  |  | 24,877
Agency commercial |  |  | (524) |  |  | 57,126 |  |  | (10) |  |  | 3,449 |  |  | (534) |  |  | 60,575
Corporate |  |  | (106) |  |  | 4,849 |  |  | — |  |  | — |  |  | (106) |  |  | 4,849
Total available-for-sale |  |  | (1,061) |  |  | 107,933 |  |  | (30) |  |  | 7,939 |  |  | (1,091) |  |  | 115,872
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency commercial |  |  | (18) |  |  | 2,983 |  |  | — |  |  | — |  |  | (18) |  |  | 2,983
Total held-to-maturity |  |  | (18) |  |  | 2,983 |  |  | — |  |  | — |  |  | (18) |  |  | 2,983
Total debt securities |  | $ | (1,079) |  | $ | 110,916 |  | $ | (30) |  | $ | 7,939 |  | $ | (1,109) |  | $ | 118,855
|  | 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
Schedule of equity securities with initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses |
|  |  |  |  | Cumulative |  |  |
|  |  |  | Net Unrealized |  |
December 31, 2020 |  | Initial Cost |  | Gains (Losses) |  | Carrying Value
|  | (dollars in thousands)
Readily determinable fair value |  | $ | 3,098 |  | $ | 194 |  | $ | 3,292
No readily determinable fair value |  |  | 1,717 |  |  | (165) |  |  | 1,552
Total equity securities |  | $ | 4,815 |  | $ | 29 |  | $ | 4,844
|  |  |  |  | Cumulative |  |  |
|  |  |  | Net Unrealized |  |
December 31, 2019 |  | Initial Cost |  | Gains (Losses) |  | Carrying Value
|  | (dollars in thousands)
Readily determinable fair value |  | $ | 3,080 |  | $ | 161 |  | $ | 3,241
No readily determinable fair value |  |  | 1,313 |  |  | (165) |  |  | 1,148
Total equity securities |  | $ | 4,393 |  | $ | (4) |  | $ | 4,389

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