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Investments (Tables) | 6 Months Ended
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Jun. 30, 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):
|  | June 30, 2020 |  |  |  |  |  |
Available-for-Sale Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Debt securities: |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 42,085 |  |  | $ | 25 |  |  | $ | (404) |  |  | $ | 41,706 |
Obligations of states and political subdivisions |  | 219,024 |  |  | 11,834 |  |  | (1,003) |  |  | 229,855 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 201,373 |  |  | 4,355 |  |  | (3,891) |  |  | 201,837 |
Private label mortgage and asset backed securities |  | 52,482 |  |  | 1,155 |  |  | (1,136) |  |  | 52,501 |
Corporate debt securities |  | 19,000 |  |  | 5 |  |  | (402) |  |  | 18,603 |
Total available-for-sale |  | $ | 533,964 |  |  | $ | 17,374 |  |  | $ | (6,836) |  |  | $ | 544,502 |
|  | 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 June 30, 2020 and 2019 are shown below (in thousands):
|  | For the Three Months Ended June 30, |  |  |  | For the Six Months Ended June 30, |  |
Available-for-Sale Securities |  | 2020 |  | 2019 |  | 2020 |  | 2019
Proceeds from sales or calls |  | $ | 16,114 |  |  | $ | 150,441 |  |  | $ | 122,151 |  |  | $ | 203,426 |
Gross realized gains from sales or calls |  | 306 |  |  | 2,508 |  |  | 4,504 |  |  | 3,607 |
Gross realized losses from sales or calls |  | (364) |  |  | (49) |  |  | (364) |  |  | (96) |
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):
|  | June 30, 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 |  | $ | 27,942 |  |  | $ | (184) |  |  | $ | 13,075 |  |  | $ | (220) |  |  | $ | 41,017 |  |  | $ | (404) |
Obligations of states and political subdivisions |  | 46,269 |  |  | (1,003) |  |  | — |  |  | — |  |  | 46,269 |  |  | (1,003) |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 16,999 |  |  | (277) |  |  | 92,339 |  |  | (3,614) |  |  | 109,338 |  |  | (3,891) |
Private label mortgage and asset backed securities |  | 27,461 |  |  | (1,136) |  |  | — |  |  | — |  |  | 27,461 |  |  | (1,136) |
Corporate debt securities |  | 8,598 |  |  | (402) |  |  | — |  |  | — |  |  | 8,598 |  |  | (402) |
Total available-for-sale |  | $ | 127,269 |  |  | $ | (3,002) |  |  | $ | 105,414 |  |  | $ | (3,834) |  |  | $ | 232,683 |  |  | $ | (6,836) |
|  | 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 |
|  | June 30, 2020 |  |
Available-for-Sale Securities |  | Amortized Cost |  | Estimated Fair Value
Within one year |  | $ | — |  |  | $ | — |
After one year through five years |  | 1,593 |  |  | 1,749 |
After five years through ten years |  | 29,964 |  |  | 31,935 |
After ten years |  | 187,467 |  |  | 196,171 |
|  | 219,024 |  |  | 229,855 |
Investment securities not due at a single maturity date: |  |  |  |
U.S. Government agencies |  | 42,085 |  |  | 41,706 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 201,373 |  |  | 201,837 |
Private label mortgage and asset backed securities |  | 52,482 |  |  | 52,501 |
Corporate debt securities |  | 19,000 |  |  | 18,603 |
Total available-for-sale |  | $ | 533,964 |  |  | $ | 544,502 |

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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=121645371&loc=d3e27357-111563 + Details
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