XML 43 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
SECURITIES: (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and fair value of investments classified as available-for-sale
The fair value of securities available-for-sale and related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:
 
 
December 31, 2018
 
 
Amortized
 
Unrealized
 
 
(Dollar amounts in thousands)
 
Cost
 
Gains
 
Losses
 
Fair Value
U.S. Government entity mortgage-backed securities
 
$
25,617

 
$
218

 
$
(471
)
 
$
25,364

Mortgage-backed securities, residential
 
182,050

 
723

 
(4,030
)
 
178,743

Collateralized mortgage obligations
 
352,823

 
217

 
(9,424
)
 
343,616

State and municipal obligations
 
232,457

 
2,767

 
(1,289
)
 
233,935

Collateralized debt obligations
 
137

 
3,121

 
—

 
3,258

TOTAL
 
$
793,084

 
$
7,046

 
$
(15,214
)
 
$
784,916

 
 
December 31, 2017
 
 
Amortized
 
Unrealized
 
 
(Dollar amounts in thousands)
 
Cost
 
Gains
 
Losses
 
Fair Value
U.S. Government entity mortgage-backed securities
 
$
13,989

 
$
24

 
$
(318
)
 
$
13,695

Mortgage-backed securities, residential
 
215,079

 
2,071

 
(1,812
)
 
215,338

Mortgage-backed securities, commercial
 
1

 
—

 
—

 
1

Collateralized mortgage obligations
 
346,005

 
370

 
(6,705
)
 
339,670

State and municipal obligations
 
227,651

 
4,671

 
(700
)
 
231,622

Collateralized debt obligations
 
8,644

 
5,961

 
—

 
14,605

TOTAL
 
$
811,369

 
$
13,097

 
$
(9,535
)
 
$
814,931
Schedule Of Gross Gain Or Loss realised
Below is a summary of the gross gains and losses realized by the Corporation on investment sales and calls during the years ended December 31, 2018, 2017 and 2016, respectively.
(Dollar amounts in thousands)
 
2018
 
2017
 
2016
Proceeds
 
$
2,418

 
$
15,348

 
$
8,160

Gross gains
 
5

 
185

 
39

Gross losses
 
(3
)
 
(126
)
 
(5
)
Schedule of contractual maturities of debt securities
Contractual maturities of debt securities at year-end 2018 were as follows. Securities not due at a single maturity or with no maturity date, primarily mortgage-backed and collateralized mortgage obligations, are shown separately.
 
 
Available-for-Sale
 
 
Amortized
 
Fair
(Dollar amounts in thousands)
 
Cost
 
Value
Due in one year or less
 
$
6,490

 
$
6,509

Due after one but within five years
 
33,133

 
33,582

Due after five but within ten years
 
69,397

 
70,314

Due after ten years
 
149,191

 
152,152

 
 
258,211

 
262,557

Mortgage-backed securities and collateralized mortgage obligations
 
534,873

 
522,359

TOTAL
 
$
793,084

 
$
784,916
Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position
The following tables show the securities' gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at December 31, 2018 and 2017.
 
 
December 31, 2018
 
 
Less Than 12 Months
 
More Than 12 Months
 
Total
 
 
 
 
Unrealized
 
 
 
Unrealized
 
 
 
Unrealized
(Dollar amounts in thousands)
 
Fair Value
 
Losses
 
Fair Value
 
Losses
 
Fair Value
 
Losses
U.S. Government entity mortgage-backed securities
 
$
3,052

 
$
(4
)
 
11,356

 
(467
)
 
$
14,408

 
$
(471
)
Mortgage-backed securities, residential
 
39,997

 
(553
)
 
111,423

 
(3,477
)
 
151,420

 
(4,030
)
Collateralized mortgage obligations
 
52,838

 
(455
)
 
241,373

 
(8,969
)
 
294,211

 
(9,424
)
State and municipal obligations
 
34,229

 
(276
)
 
41,742

 
(1,013
)
 
75,971

 
(1,289
)
Total temporarily impaired securities
 
$
130,116

 
$
(1,288
)
 
$
405,894

 
$
(13,926
)
 
$
536,010

 
$
(15,214
)
 
 
 
December 31, 2017
 
 
Less Than 12 Months
 
More Than 12 Months
 
Total
 
 
 
 
Unrealized
 
 
 
Unrealized
 
 
 
Unrealized
(Dollar amounts in thousands)
 
Fair Value
 
Losses
 
Fair Value
 
Losses
 
Fair Value
 
Losses
U.S. Government entity mortgage-backed securities
 
$
9,321

 
$
(86
)
 
$
3,538

 
$
(232
)
 
$
12,859

 
$
(318
)
Mortgage-backed securities, residential
 
79,918

 
(425
)
 
53,815

 
(1,387
)
 
133,733

 
(1,812
)
Collateralized mortgage obligations
 
150,182

 
(1,418
)
 
146,750

 
(5,287
)
 
296,932

 
(6,705
)
State and municipal obligations
 
27,347

 
(183
)
 
18,660

 
(517
)
 
46,007

 
(700
)
Total temporarily impaired securities
 
$
266,768

 
$
(2,112
)
 
$
222,763

 
$
(7,423
)
 
$
489,531

 
$
(9,535
)
Rollforward of the credit losses recognized in earnings
The table below presents a rollforward of the credit losses recognized in earnings for the years presented: 
(Dollar amounts in thousands)
 
2018
 
2017
 
2016
Beginning balance, January 1,
 
$
7,132

 
$
13,974

 
$
13,995

Amounts related to credit loss for which other-than-
 
 

 
 

 
 

temporary impairment was not previously recognized
 
—

 
—

 
—

Reductions for securities called during the period
 
(4,158
)
 
(6,842
)
 


Reductions for increase in cash flows expected to be collected
 
 

 
 

 
 

that are recognized over the remaining life of the security
 
—

 
—

 
(21
)
Increases to the amount related to the credit loss for which other-
 
 

 
 

 
 

than-temporary impairment was previously recognized
 
—

 
—

 
—

Ending balance, December 31,
 
$
2,974

 
$
7,132

 
$
13,974