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Securities (Tables)

6 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Amortized cost and fair value of investments classified as available-for-sale

		June 30, 2019
(Dollar amounts in thousands)		Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Value
U.S. Government agencies		$	32,246			$	1,346			$	(68	)		$	33,524
Mortgage Backed Securities - residential		187,431				1,789				(451		)		188,769
Collateralized mortgage obligations		320,350				2,400				(1,433		)		321,317
State and municipal obligations		235,490				9,162				(58		)		244,594
Collateralized debt obligations		51				3,282				—				3,333
TOTAL		$	775,568			$	17,979			$	(2,010	)		$	791,537

		December 31, 2018
(Dollar amounts in thousands)		Amortized Cost				Unrealized Gains				Unrealized Losses				Fair Value
U.S. Government agencies		$	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

Schedule of contractual maturities of debt securities

Contractual maturities of debt securities at June 30, 2019 were as follows. Securities not due at a single maturity or with no maturity date, primarily mortgage-backed and equity securities are shown separately.

		Available-for-Sale
		Amortized				Fair
(Dollar amounts in thousands)		Cost				Value
Due in one year or less		$	6,365			$	6,407
Due after one but within five years		35,759				36,483
Due after five but within ten years		60,122				61,975
Due after ten years		165,541				176,586
		267,787				281,451
Mortgage-backed securities and collateralized mortgage obligations		507,781				510,086
TOTAL		$	775,568			$	791,537

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 June 30, 2019 and December 31, 2018. 

		June 30, 2019
		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 agencies		$	—			$	—			$	3,191			$	(68	)		$	3,191			$	(68	)
Mortgage Backed Securities - Residential		$	—			$	—			$	49,580			$	(451	)		$	49,580			$	(451	)
Collateralized mortgage obligations		6,285				(6		)		102,797				(1,427		)		109,082				(1,433		)
State and municipal obligations		457				(28		)		3,092				(30		)		3,549				(58		)
Total temporarily impaired securities		$	6,742			$	(34	)		$	158,660			$	(1,976	)		$	165,402			$	(2,010	)

		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
US Government Agencies		$	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	)

Rollforward of the credit losses recognized in earnings

The table below presents a rollforward of the credit losses recognized in earnings for the three and six month periods ended June 30, 2019 and 2018:

		Three Months Ended June 30,								Six Months Ended June 30,
(Dollar amounts in thousands)		2019				2018				2019				2018
Beginning balance		$	2,974			$	7,132			$	2,974			$	7,132
Increases to the amount related to the credit
Loss for which other-than-temporary was previously recognized		—				—				—				—
Reductions for increases in cash flows collected		—				—				—				—
Reductions for securities called during the period		—				(4,158		)		—				(4,158		)
Ending balance		$	2,974			$	2,974			$	2,974			$	2,974

X

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

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