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Note 3. Investment Securities Available-for-Sale (Tables)
 9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and estimated fair value of securities available-for-sale are summarized as follows:

Amortized cost and estimated fair value of securities available-for-sale are summarized as follows:

 

       Gross   Gross   Estimated 
September 30, 2019  Amortized   Unrealized   Unrealized   Fair 
(dollars in thousands)  Cost   Gains   Losses   Value 
U. S. agency securities  $171,585   $941  $706   $171,820 
Residential mortgage backed securities   434,042    5,404    1,417    438,029 
Municipal bonds   61,680    2,278    —    63,958 
Corporate bonds   9,532    82    —    9,614 
U.S. Treasury   24,919    7    —    24,926 
Other equity investments   198    —    —    198 
   $701,956   $8,712   $2,123   $708,545 
                 
       Gross   Gross   Estimated 
December 31, 2018  Amortized   Unrealized   Unrealized   Fair 
(dollars in thousands)  Cost   Gains   Losses   Value 
U. S. agency securities  $260,150   $228  $4,033   $256,345 
Residential mortgage backed securities   477,949    1,575    7,293    472,231 
Municipal bonds   45,814    439    484    45,769 
Corporate bonds   9,503    79    6    9,576 
Other equity investments   218    —    —    218 
   $793,634   $2,321   $11,816   $784,139 
Gross unrealized losses and fair value by length of time that the individual available-for-sale securities have been in a continuous unrealized loss position are as follows:

Gross unrealized losses and fair value by length of time that the individual available-for-sale securities have been in a continuous unrealized loss position are as follows:

 

                              
       Less than   12 Months     
       12 Months   or Greater   Total 
       Estimated       Estimated       Estimated     
September 30, 2019  Number of   Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
(dollars in thousands)  Securities   Value   Losses   Value   Losses   Value   Losses 
U. S. agency securities   32   $36,162   $132   $59,843   $574   $96,005   $706 
Residential mortgage backed securities   98    53,769    287    116,438    1,130    170,207    1,417 
Municipal bonds   1    30    —    —    —    30    — 
    131   $89,961   $419   $176,281   $1,704   $266,242   $2,123 

                             
       Less than   12 Months         
       12 Months   or Greater   Total 
       Estimated       Estimated       Estimated     
December 31, 2018  Number of   Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
(dollars in thousands)  Securities   Value   Losses   Value   Losses   Value   Losses 
U. S. agency securities   58   $72,679   $533   $144,636   $3,500   $217,315   $4,033 
Residential mortgage backed securities   151    61,199    527    225,995    6,766    287,194    7,293 
Municipal bonds   11    4,299    50    17,041    434    21,340    484 
Corporate bonds   1    1,494    6    —    —    1,494    6 
    221   $139,671   $1,116   $387,672   $10,700   $527,343   $11,816 
The amortized cost and estimated fair value of investments available-for-sale at September 30, 2019 and December 31, 2018 by contractual maturity are shown in the table below. Expected maturities for residential mortgage backed securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

The amortized cost and estimated fair value of investments available-for-sale at September 30, 2019 and December 31, 2018 by contractual maturity are shown in the table below. Expected maturities for residential mortgage backed securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

   September 30, 2019   December 31, 2018 
   Amortized   Estimated   Amortized   Estimated 
(dollars in thousands)  Cost   Fair Value   Cost   Fair Value 
U. S. agency securities maturing:                    
One year or less  $78,924   $79,178   $128,148   $125,545 
After one year through five years   79,835    79,809    119,856    118,883 
Five years through ten years   12,826    12,833    12,146    11,917 
Residential mortgage backed securities   434,042    438,029    477,949    472,231 
Municipal bonds maturing:                    
One year or less   6,116    6,185    8,097    8,167 
After one year through five years   16,474    16,940    15,025    15,081 
Five years through ten years   36,028    37,540    21,626    21,385 
After ten years   3,062    3,293    1,066    1,136 
Corporate bonds maturing:                    
After one year through five years   8,032    8,114    8,003    8,076 
After ten years   1,500    1,500    1,500    1,500 
U.S. Treasury   24,919    24,926    —    — 
Other equity investments   198    198    218    218 
   $701,956   $745,343   $793,634   $784,139