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Investment Securities (Tables)

9 Months Ended

Sep. 30, 2021

Investment Securities

Schedule of amortized cost of investment securities to estimated fair values


		September 30, 2021
		Amortized			Unrealized			Unrealized			Fair
(dollars in thousands)		Cost			Gains			Losses			Value
Available-for-sale
U.S. Treasury and agencies		$	5,382		$	87		$	—		$	5,469
Mortgage backed securities
Residential agency			523,743			2,219			(7,490)			518,472
Commercial			91,336			3,582			—			94,918
Asset backed securities			61			3			—			64
Corporate bonds			35,038			1,321			—			36,359
Total available-for-sale investment securities			655,560			7,212			(7,490)			655,282
Held-to-maturity
Obligations of state and political agencies			145,172			1,530			(29)			146,673
Mortgage backed securities
Residential agency			217,414			55			(602)			216,867
Total held-to-maturity investment securities			362,586			1,585			(631)			363,540
Total investment securities		$	1,018,146		$	8,797		$	(8,121)		$	1,018,822


		December 31, 2020
		Amortized			Unrealized			Unrealized			Fair
(dollars in thousands)		Cost			Gains			Losses			Value
Available-for-sale
U.S. Treasury and agencies		$	5,926		$	—		$	(19)		$	5,907
Obligations of state and political agencies			148,491			5,282			—			153,773
Mortgage backed securities
Residential agency			303,760			3,395			(436)			306,719
Commercial			89,300			5,678			—			94,978
Asset backed securities			109			6			—			115
Corporate bonds			30,552			388			(90)			30,850
Total available-for-sale investment securities		$	578,138		$	14,749		$	(545)		$	592,342

Schedule of investment securities with gross unrealized losses


		September 30, 2021
		Less than 12 Months						Over 12 Months						Total
		Unrealized			Fair			Unrealized			Fair			Unrealized			Fair
(dollars in thousands)		Losses			Value			Losses			Value			Losses			Value
Available-for-sale
U.S. Treasury and agencies		$	—		$	—		$	—		$	—		$	—		$	—
Mortgage backed securities
Residential agency			(7,416)			340,254			(74)			9,057			(7,490)			349,311
Commercial			—			—			—			—			—			—
Asset backed securities			—			—			—			2			—			2
Corporate bonds			—			—			—			—			—			—
Total available-for-sale investment securities			(7,416)			340,254			(74)			9,059			(7,490)			349,313
Held-to-maturity
Obligations of state and political agencies			(29)			22,550			—			—			(29)			22,550
Mortgage backed securities
Residential agency			(602)			80,145									(602)			80,145
Total held-to-maturity investment securities			(631)			102,695			—			—			(631)			102,695
Total investment securities		$	(8,047)		$	442,949			(74)			9,059			(8,121)			452,008


		December 31, 2020
		Less than 12 Months						Over 12 Months						Total
		Unrealized			Fair			Unrealized			Fair			Unrealized			Fair
(dollars in thousands)		Losses			Value			Losses			Value			Losses			Value
Available-for-sale
U.S. Treasury and agencies		$	(10)		$	4,509		$	(9)		$	1,309		$	(19)		$	5,818
Obligations of state and political agencies			—			—			—			—			—			—
Mortgage backed securities
Residential agency			(432)			68,494			(4)			2,356			(436)			70,850
Commercial			—			—			—			—			—			—
Asset backed securities			—			—			—			2			—			2
Corporate bonds			(90)			16,454			—			—			(90)			16,454
Total available-for-sale investment securities		$	(532)		$	89,457		$	(13)		$	3,667		$	(545)		$	93,124

Schedule of contractual maturity of amortized cost and estimated fair value


		Held-to-maturity						Available-for-sale
		Carrying			Fair			Amortized			Fair
(dollars in thousands)		Value			Value			Cost			Value
Due within one year or less		$	4,690		$	4,690		$	—		$	—
Due after one year through five years			34,282			34,359			3,270			3,376
Due after five years through ten years			75,197			76,120			83,891			87,330
Due after 10 years			248,417			248,371			568,399			564,576
Total investment securities		$	362,586		$	363,540		$	655,560		$	655,282

Schedule of proceeds from the sale of available for sale securities


		Three months ended						Nine months ended
		September 30,						September 30,
(dollars in thousands)		2021			2020			2021			2020
Proceeds		$	—		$	35,125		$	13,189		$	74,630
Realized gains			—			1,428			114			2,722
Realized losses			—			—			—			—

Schedule of proceeds from the sale of held-to-maturity investment securities


		Three months ended						Nine months ended
		September 30,						September 30,
(dollars in thousands)		2021			2020			2021			2020
Proceeds		$	348		$	—		$	1,763		$	—
Realized gains			11			—			11			—
Realized losses			—			—			—			—

Schedule of federal home loan bank


		September 30,			December 31,
(dollars in thousands)		2021			2020
Federal Reserve		$	2,675		$	2,675
FHLB			3,827			3,090