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SECURITIES (Tables)
9 Months Ended
Sep. 30, 2021
SECURITIES  
Summary of carrying balances of securities

September 30, 

December 31, 

2021

    

2020

(dollars in thousands)

Debt securities available-for-sale

$

896,218

$

922,869

Debt securities held-to-maturity

318,730

68,395

Equity securities with readily determinable fair value

3,366

3,292

Equity securities with no readily determinable fair value

1,867

1,552

Total securities

$

1,220,181

$

996,108

Schedule of gains (losses) on securities

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2021

    

2020

2021

    

2020

(dollars in thousands)

Net realized gains (losses) on sales

$

$

$

$

Net unrealized gains (losses) on equity securities:

Readily determinable fair value

28

(2)

74

3

No readily determinable fair value

Gains (losses) on securities

$

28

$

(2)

$

74

$

3

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

June 30, 2021

March 31, 2021

Amortized

Amortized

Cost

Fair Value

Cost

    

Fair Value

(dollars in thousands)

U.S. government agency

$

$

$

7,593

$

7,323

Mortgage-backed:

Agency residential

8,776

8,536

Agency commercial

99,271

99,275

118,792

113,861

Total

$

99,271

$

99,275

$

135,161

$

129,720

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

September 30, 2021

    

Amortized
Cost

    

Gross
Unrealized
Gains

    

Gross
Unrealized
Losses

    

Fair Value

Available-for-sale:

(dollars in thousands)

U.S. Treasury

$

59,943

$

374

$

(22)

$

60,295

U.S. government agency

130,146

1,842

(2,295)

129,693

Municipal

295,251

6,232

(2,736)

298,747

Mortgage-backed:

Agency residential

172,372

3,111

(371)

175,112

Agency commercial

164,999

2,002

(1,100)

165,901

Corporate

64,851

1,899

(280)

66,470

Total available-for-sale

887,562

15,460

(6,804)

896,218

Held-to-maturity:

U.S. government agency

12,341

124

(12)

12,453

Municipal

18,667

998

19,665

Mortgage-backed:

Agency residential

22,065

354

(1)

22,418

Agency commercial

265,657

2,679

(1,716)

266,620

Total held-to-maturity

318,730

4,155

(1,729)

321,156

Total debt securities

$

1,206,292

$

19,615

$

(8,533)

$

1,217,374

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

$

37,707

$

38,206

$

3,055

$

3,072

Due after 1 year through 5 years

74,925

77,508

17,110

17,797

Due after 5 years through 10 years

309,565

311,729

10,452

10,844

Due after 10 years

127,994

127,762

391

405

Mortgage-backed:

Agency residential

172,372

175,112

22,065

22,418

Agency commercial

164,999

165,901

265,657

266,620

Total

$

887,562

$

896,218

$

318,730

$

321,156

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, 2021

    

Unrealized
Loss

    

Fair Value

    

Unrealized
Loss

    

Fair Value

    

Unrealized
Loss

    

Fair Value

Available-for-sale:

(dollars in thousands)

U.S. Treasury

$

(22)

$

9,926

$

$

$

(22)

$

9,926

U.S. government agency

(2,295)

70,210

(2,295)

70,210

Municipal

(2,066)

112,240

(670)

12,406

(2,736)

124,646

Mortgage-backed:

Agency residential

(323)

47,264

(48)

4,649

(371)

51,913

Agency commercial

(983)

89,468

(117)

6,888

(1,100)

96,356

Corporate

(280)

4,679

(280)

4,679

Total available-for-sale

(5,689)

329,108

(1,115)

28,622

(6,804)

357,730

Held-to-maturity:

U.S. government agency

(12)

4,988

(12)

4,988

Mortgage-backed:

Agency residential

(1)

1,570

(1)

1,570

Agency commercial

(1,596)

127,713

(120)

2,793

(1,716)

130,506

Total held-to-maturity

(1,609)

134,271

(120)

2,793

(1,729)

137,064

Total debt securities

$

(7,298)

$

463,379

$

(1,235)

$

31,415

$

(8,533)

$

494,794

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

September 30, 2021

    

Fair Value

    

Fair Value

(dollars in thousands)

Initial cost

$

3,098

$

2,032

Cumulative net unrealized gains (losses)

268

(165)

Carrying value

$

3,366

$

1,867

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