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SECURITIES (Tables)

3 Months Ended

Mar. 31, 2021

SECURITIES

Summary of carrying balances of securities


		March 31,			December 31,
		2021			2020

		(dollars in thousands)
Debt securities available-for-sale		$	856,835		$	922,869
Debt securities held-to-maturity			192,994			68,395
Equity securities with readily determinable fair value			3,332			3,292
Equity securities with no readily determinable fair value			1,552			1,552
Total securities		$	1,054,713		$	996,108

Schedule of gains (losses) on securities


	Three Months Ended March 31,
	2021			2020

	(dollars in thousands)
Net realized gains (losses) on sales	$	—		$	—
Net unrealized gains (losses) on equity securities:
Readily determinable fair value		40			(52)
No readily determinable fair value		—			—
Gains (losses) on securities	$	40		$	(52)

Schedule of certain debt securities from the available-for-sale category to the held-to-maturity category


		Amortized
		Cost			Fair Value

		(dollars in thousands)
U.S. government agency		$	7,593		$	7,323
Mortgage-backed:
Agency residential			8,776			8,536
Agency commercial			118,792			113,861
Total		$	135,161		$	129,720

Schedule of amortized cost and fair values of securities available-for-sale, with gross unrealized gains and losses


March 31, 2021		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value

Available-for-sale:		(dollars in thousands)
U.S. government agency		$	129,494		$	1,785		$	(3,341)		$	127,938
Municipal			280,212			6,479			(4,358)			282,333
Mortgage-backed:
Agency residential			164,942			4,366			(204)			169,104
Agency commercial			208,692			2,861			(3,556)			207,997
Corporate			67,959			1,950			(446)			69,463
Total available-for-sale			851,299			17,441			(11,905)			856,835
Held-to-maturity:
U.S. government agency			7,323			—			—			7,323
Municipal			21,067			1,188			—			22,255
Mortgage-backed:
Agency residential			20,335			388			—			20,723
Agency commercial			144,269			1,323			(285)			145,307
Total held-to-maturity			192,994			2,899			(285)			195,608
Total debt securities		$	1,044,293		$	20,340		$	(12,190)		$	1,052,443


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

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		$	31,406		$	31,734		$	2,772		$	2,817
Due after 1 year through 5 years			76,138			78,807			12,000			12,770
Due after 5 years through 10 years			242,096			242,487			13,227			13,580
Due after 10 years			128,025			126,706			391			411

Mortgage-backed:
Agency residential			164,942			169,104			20,335			20,723
Agency commercial			208,692			207,997			144,269			145,307
Total		$	851,299		$	856,835		$	192,994		$	195,608

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, 2021		Unrealized Loss			Fair Value			Unrealized Loss			Fair Value			Unrealized Loss			Fair Value

Available-for-sale:		(dollars in thousands)
U.S. government agency		$	(3,341)		$	80,395		$	—		$	—		$	(3,341)		$	80,395
Municipal			(4,358)			119,502			—			—			(4,358)			119,502
Mortgage-backed:
Agency residential			(165)			26,810			(39)			3,594			(204)			30,404
Agency commercial			(3,556)			119,719			—			—			(3,556)			119,719
Corporate			(446)			7,009			—			—			(446)			7,009
Total available-for-sale			(11,866)			353,435			(39)			3,594			(11,905)			357,029
Held-to-maturity:
Mortgage-backed:
Agency commercial			(285)			7,669			—			—			(285)			7,669
Total held-to-maturity			(285)			7,669			—			—			(285)			7,669
Total debt securities		$	(12,151)		$	361,104		$	(39)		$	3,594		$	(12,190)		$	364,698


		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

Schedule of equity securities with initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses


		Readily			No Readily
		Determinable			Determinable
March 31, 2021		Fair Value			Fair Value

		(dollars in thousands)
Initial cost		$	3,098		$	1,717
Cumulative net unrealized gains (losses)			234			(165)
Carrying value		$	3,332		$	1,552


		Readily			No Readily
		Determinable			Determinable
December 31, 2020		Fair Value			Fair Value

		(dollars in thousands)
Initial cost		$	3,098		$	1,717
Cumulative net unrealized gains (losses)			194			(165)
Carrying value		$	3,292		$	1,552