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Investments (Tables) | 9 Months Ended
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Sep. 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):
|  | September 30, 2020
Available-for-Sale Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Debt securities: |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 40,913 |  |  | $ | 32 |  |  | $ | (317) |  |  | $ | 40,628 |
Obligations of states and political subdivisions |  | 280,506 |  |  | 14,930 |  |  | (563) |  |  | 294,873 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 216,084 |  |  | 3,985 |  |  | (2,787) |  |  | 217,282 |
Private label mortgage and asset backed securities |  | 54,072 |  |  | 1,253 |  |  | (103) |  |  | 55,222 |
Corporate debt securities |  | 24,000 |  |  | 145 |  |  | (296) |  |  | 23,849 |
Total available-for-sale |  | $ | 615,575 |  |  | $ | 20,345 |  |  | $ | (4,066) |  |  | $ | 631,854 |
|  | 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 September 30, 2020 and 2019 are shown below (in thousands):
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
Available-for-Sale Securities |  | 2020 |  | 2019 |  | 2020 |  | 2019
Proceeds from sales or calls |  | $ | 25,442 |  |  | $ | 77,375 |  |  | $ | 147,811 |  |  | $ | 280,991 |
Gross realized gains from sales or calls |  | 1,035 |  |  | 1,709 |  |  | 5,539 |  |  | 5,316 |
Gross realized losses from sales or calls |  | (978) |  |  | (24) |  |  | (1,342) |  |  | (120) |
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):
|  | September 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 |  | $ | 27,125 |  |  | $ | (132) |  |  | $ | 12,812 |  |  | $ | (185) |  |  | $ | 39,937 |  |  | $ | (317) |
Obligations of states and political subdivisions |  | 50,672 |  |  | (563) |  |  | — |  |  | — |  |  | 50,672 |  |  | (563) |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 32,953 |  |  | (287) |  |  | 81,338 |  |  | (2,500) |  |  | 114,291 |  |  | (2,787) |
Private label mortgage and asset backed securities |  | 12,698 |  |  | (103) |  |  | — |  |  | — |  |  | 12,698 |  |  | (103) |
Corporate debt securities |  | 8,704 |  |  | (296) |  |  | — |  |  | — |  |  | 8,704 |  |  | (296) |
Total available-for-sale |  | $ | 132,152 |  |  | $ | (1,381) |  |  | $ | 94,150 |  |  | $ | (2,685) |  |  | $ | 226,302 |  |  | $ | (4,066) |
|  | 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 |
|  | September 30, 2020
Available-for-Sale Securities |  | Amortized Cost |  | Estimated Fair Value
Within one year |  | $ | 295 |  |  | $ | 304 |
After one year through five years |  | 1,314 |  |  | 1,454 |
After five years through ten years |  | 31,221 |  |  | 34,368 |
After ten years |  | 247,676 |  |  | 258,747 |
|  | 280,506 |  |  | 294,873 |
Investment securities not due at a single maturity date: |  |  |  |
U.S. Government agencies |  | 40,913 |  |  | 40,628 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 216,084 |  |  | 217,282 |
Private label mortgage and asset backed securities |  | 54,072 |  |  | 55,222 |
Corporate debt securities |  | 24,000 |  |  | 23,849 |
Total available-for-sale |  | $ | 615,575 |  |  | $ | 631,854 |

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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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