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v3.20.1

Investments (Tables) | 3 Months Ended
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Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract] |
Available-for-sale securities reconciliation | The following table sets forth the carrying values and estimated fair values of our investment securities portfolio at the dates indicated (in thousands):
|  | March 31, 2020
Available-for-Sale Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 43,550 |  |  | $ | 28 |  |  | $ | (366 | ) |  | $ | 43,212 |
Obligations of states and political subdivisions |  | 200,677 |  |  | 6,393 |  |  | (1,816 | ) |  | 205,254 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 205,987 |  |  | 2,804 |  |  | (6,486 | ) |  | 202,305 |
Private label mortgage and asset backed securities |  | 65,615 |  |  | 679 |  |  | (2,371 | ) |  | 63,923 |
Corporate debt securities |  | 9,000 |  |  | — |  |  | (751 | ) |  | 8,249 |
Total available-for-sale |  | $ | 524,829 |  |  | $ | 9,904 |  |  | $ | (11,790 | ) |  | $ | 522,943 |
|  | December 31, 2019
Available-for-Sale Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 14,740 |  |  | $ | 12 |  |  | $ | (258 | ) |  | $ | 14,494 |
Obligations of states and political subdivisions |  | 89,574 |  |  | 2,965 |  |  | (1,428 | ) |  | 91,111 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 198,125 |  |  | 1,409 |  |  | (2,815 | ) |  | 196,719 |
Private label mortgage and asset backed securities |  | 155,308 |  |  | 4,223 |  |  | (153 | ) |  | 159,378 |
Corporate debt securities |  | 9,000 |  |  | 79 |  |  | (35 | ) |  | 9,044 |
Total available-for-sale |  | $ | 466,747 |  |  | $ | 8,688 |  |  | $ | (4,689 | ) |  | $ | 470,746 |
Realized gains and losses | Proceeds and gross realized gains (losses) from the sales or calls of investment securities for the periods ended March 31, 2020 and 2019 are shown below (in thousands):
|  | For the Quarter Ended March 31,
Available-for-Sale Securities |  | 2020 |  | 2019
Proceeds from sales or calls |  | $ | 106,037 |  |  | $ | 52,985 |
Gross realized gains from sales or calls |  | 4,198 |  |  | 1,099 |
Gross realized losses from sales or calls |  | — |  |  | (47 | )
Securities in a continuous unrealized loss position | Investment securities, aggregated by investment category, with unrealized losses as of the dates indicated are summarized and classified according to the duration of the loss period as follows (in thousands):
|  | March 31, 2020
|  | Less than 12 Months |  | 12 Months or More |  | Total
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
Available-for-Sale Securities |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 28,966 |  |  | $ | (151 | ) |  | $ | 13,457 |  |  | $ | (215 | ) |  | $ | 42,423 |  |  | $ | (366 | )
Obligations of states and political subdivisions |  | 50,756 |  |  | (1,816 | ) |  | — |  |  | — |  |  | 50,756 |  |  | (1,816 | )
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 54,165 |  |  | (1,327 | ) |  | 75,561 |  |  | (5,159 | ) |  | 129,726 |  |  | (6,486 | )
Private label mortgage and asset backed securities |  | 47,232 |  |  | (2,359 | ) |  | 5,674 |  |  | (12 | ) |  | 52,906 |  |  | (2,371 | )
Corporate debt securities |  | 8,249 |  |  | (751 | ) |  | — |  |  | — |  |  | 8,249 |  |  | (751 | )
Total available-for-sale |  | $ | 189,368 |  |  | $ | (6,404 | ) |  | $ | 94,692 |  |  | $ | (5,386 | ) |  | $ | 284,060 |  |  | $ | (11,790 | )
|  | December 31, 2019
|  | Less than 12 Months |  | 12 Months or More |  | Total
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
Available-for-Sale Securities |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | — |  |  | $ | — |  |  | $ | 13,713 |  |  | $ | (258 | ) |  | $ | 13,713 |  |  | $ | (258 | )
Obligations of states and political subdivisions |  | 65,606 |  |  | (1,428 | ) |  | — |  |  | — |  |  | 65,606 |  |  | (1,428 | )
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 71,650 |  |  | (932 | ) |  | 69,518 |  |  | (1,883 | ) |  | 141,168 |  |  | (2,815 | )
Private label mortgage and asset backed securities |  | 17,811 |  |  | (81 | ) |  | 5,624 |  |  | (72 | ) |  | 23,435 |  |  | (153 | )
Corporate debt securities |  | 3,965 |  |  | (35 | ) |  | — |  |  | — |  |  | 3,965 |  |  | (35 | )
Total available-for-sale |  | $ | 159,032 |  |  | $ | (2,476 | ) |  | $ | 88,855 |  |  | $ | (2,213 | ) |  | $ | 247,887 |  |  | $ | (4,689 | )
Investments by contractual maturity |
|  | March 31, 2020
Available-for-Sale Securities |  | Amortized Cost |  | Estimated Fair Value
Within one year |  | $ | — |  |  | $ | — |
After one year through five years |  | 1,577 |  |  | 1,705 |
After five years through ten years |  | 23,097 |  |  | 24,616 |
After ten years |  | 176,003 |  |  | 178,933 |
|  | 200,677 |  |  | 205,254 |
Investment securities not due at a single maturity date: |  |  |  |  |  |
U.S. Government agencies |  | 43,550 |  |  | 43,212 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 205,987 |  |  | 202,305 |
Private label mortgage and asset backed securities |  | 65,615 |  |  | 63,923 |
Corporate debt securities |  | 9,000 |  |  | 8,249 |
Total available-for-sale |  | $ | 524,829 |  |  | $ | 522,943 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563 + Details
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