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INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Values of AFS Securities

At June 30, 2021 and December 31, 2020, all investment securities were classified as AFS. The following table summarizes amortized cost and fair value of investment securities, and the corresponding amounts of gross unrealized gains and losses recognized in AOCI, at June 30, 2021 and December 31, 2020:

			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
June 30, 2021
States and political subdivisions			$	149,885					$	9,556					$	25					$	159,416
GSE residential MBSs			9,326						76						1						9,401
GSE residential CMOs			62,271						798						1,297						61,772
Non-agency CMOs			14,013						629						—						14,642
Asset-backed			204,517						1,164						909						204,772
Other			399						—						—						399
Totals			$	440,411					$	12,223					$	2,232					$	450,402
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

Summary of AFS Securities with Unrealized Losses

The following table summarizes investment securities with unrealized losses at June 30, 2021 and December 31, 2020, aggregated by major investment security type and the 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
June 30, 2021
States and political subdivisions			3						$	12,424					$	25					—						$	—					$	—					3						$	12,424					$	25
GSE residential MBSs			1						689						1						—						—						—						1						689						1
GSE residential CMOs			4						19,958						79						2						17,242						1,218						6						37,200						1,297
Asset-backed			—						—						—						4						46,642						909						4						46,642						909
Totals			8						$	33,071					$	105					6						$	63,884					$	2,127					14						$	96,955					$	2,232
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

Schedule of Amortized Cost and Fair Values of AFS Securities by Contractual Maturity

The following table summarizes amortized cost and fair value of investment securities by contractual maturity at June 30, 2021. 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			37,142						39,694
Due after ten years			112,893						119,872
CMOs and MBSs			85,610						85,815
Asset-backed			204,517						204,772
			$	440,411					$	450,402

Proceeds From Sale of AFS Securities and Gross Gains and Gross Losses

The following table summarizes proceeds from sales of investment securities and gross gains and gross losses for the three and six months ended June 30, 2021 and 2020:

			Three months ended June 30,												Six months ended June 30,
			2021						2020						2021						2020
Proceeds from sale of investment securities			$	—					$	—					$	75,719					$	—
Gross gains			11						9						1,362						—
Gross losses			—						—						1,206						31

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Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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-Publisher FASB
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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

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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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