INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Fair Value and Corresponding amounts of gross unrealized gains and losses

The following table summarizes amortized cost and fair value of AFS securities, and the corresponding amounts of gross unrealized gains and losses recognized in AOCI at December 31, 2020 and 2019.


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2020


States and political subdivisions	$	104,704	$	9,091	$	1,125	$	112,670
GSE residential MBSs	4,197		96		—		4,293
GSE residential CMOs	56,856		2,226		1,071		58,011
Non-agency CMOs	16,505		413		—		16,918


Private label commercial CMOs	63,941		57		1,762		62,236
Asset-backed	214,425		171		2,630		211,966
Other	371		—		—		371
Totals	$	460,999	$	12,054	$	6,588	$	466,465
December 31, 2019


States and political subdivisions	$	83,607	$	4,288	$	32	$	87,863


GSE residential CMOs	67,928		1,000		774		68,154
Non-agency CMOs	17,210		—		123		17,087


Private label commercial CMOs	86,704		156		231		86,629
Asset-backed	235,406		138		5,029		230,515
Other	637		—		—		637
Totals	$	491,492	$	5,582	$	6,189	$	490,885

Summary of Securities Available For Sale With Unrealized Losses

The following table summarizes investment securities with unrealized losses at December 31, 2020 and 2019, aggregated by major security type and length of time in a continuous unrealized loss position.


	Less Than 12 Months					12 Months or More					Total
	# of Securities	Fair Value		Unrealized Losses		# of Securities	Fair Value		Unrealized Losses		# of Securities	Fair Value		Unrealized Losses
December 31, 2020


States and political subdivisions	1	$	9,079	$	1,125	—	$	—	$	—	1	$	9,079	$	1,125

GSE residential CMOs	3	23,954		1,071		—	—		—		3	23,954		1,071



Private label commercial CMOs	1	4,314		685		10	42,403		1,077		11	46,717		1,762
Asset-backed	2	16,921		12		15	183,161		2,618		17	200,082		2,630
Totals	7	$	54,268	$	2,893	25	$	225,564	$	3,695	32	$	279,832	$	6,588
December 31, 2019


States and political subdivisions	1	$	6,173	$	32	—	$	0	$	0	1	$	6,173	$	32

GSE residential CMOs	5	37,158		309		1	11,602		465		6	48,760		774
Non-agency CMOs	1	17,087		123		—	—		—		1	17,087		123


Private label commercial CMOs	6	26,079		67		8	39,726		164		14	65,805		231
Asset-backed	9	92,189		1,145		9	121,399		3,884		18	213,588		5,029
Totals	22	$	178,686	$	1,676	18	$	172,727	$	4,513	40	$	351,413	$	6,189

Summary of Amortized Cost and Fair Value by Contractual Maturity

The following table summarizes amortized cost and fair value of investment securities by contractual maturity at December 31, 2020. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.


	Amortized Cost		Fair Value
Due in one year or less	$	—	$	—
Due after one year through five years	249		249
Due after five years through ten years	27,419		29,709
Due after ten years	77,407		83,083
CMOs and MBSs	141,499		141,458
Asset-backed	214,425		211,966
	$	460,999	$	466,465

Summary of Proceeds from Sale of Available for Sale Securities

The following table summarizes proceeds from sales of investment securities and gross gains and gross losses for the years ended December 31, 2020, 2019 and 2018.


	2020		2019		2018
Proceeds from sale of investment securities	$	—	$	199,429	$	156,364
Gross gains	—		4,974		1,681
Gross losses	16		225		675