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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract] |
Available-for-sale securities reconciliation | The following tables set forth the carrying values and estimated fair values of our investment securities portfolio at the dates indicated (in thousands):
| December 31, 2020
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Available-for-Sale Securities |  |  |  |  |  |  |
Debt Securities: |  |  |  |  |  |  |
U.S. Government agencies | $ | 651 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 680 |
Obligations of states and political subdivisions | 361,734 |  |  | 18,170 |  |  | (339) |  |  | 379,565 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations | 214,203 |  |  | 3,575 |  |  | (1,480) |  |  | 216,298 |
Private label mortgage and asset backed securities | 82,413 |  |  | 1,337 |  |  | (242) |  |  | 83,508 |
Corporate debt securities | 30,000 |  |  | 260 |  |  | (219) |  |  | 30,041 |
| $ | 689,001 |  |  | $ | 23,371 |  |  | $ | (2,280) |  |  | $ | 710,092 |
| December 31, 2019
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Available-for-Sale Securities |  |  |  |  |  |  |
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 |
` | $ | 466,747 |  |  | $ | 8,688 |  |  | $ | (4,689) |  |  | $ | 470,746 |
Securities in a continuous unrealized loss position | Investment securities with unrealized losses at December 31, 2020 and 2019 are summarized and classified according to the duration of the loss period as follows (in thousands):
| December 31, 2020
| Less than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Available-for-Sale Securities |  |  |  |  |  |  |  |  |  |  |
Debt Securities: |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions | $ | 36,209 |  |  | $ | (339) |  |  | $ | — |  |  | $ | — |  |  | $ | 36,209 |  |  | $ | (339) |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations | 30,755 |  |  | (385) |  |  | 77,337 |  |  | (1,095) |  |  | 108,092 |  |  | (1,480) |
Private label residential mortgage and asset backed securities | 25,407 |  |  | (242) |  |  | — |  |  | — |  |  | 25,407 |  |  | (242) |
Corporate debt securities | 12,881 |  |  | (119) |  |  | 3,900 |  |  | (100) |  |  | 16,781 |  |  | (219) |
| $ | 105,252 |  |  | $ | (1,085) |  |  | $ | 81,237 |  |  | $ | (1,195) |  |  | $ | 186,489 |  |  | $ | (2,280) |
| December 31, 2019
| Less than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Available-for-Sale Securities |  |  |  |  |  |  |  |  |  |  |
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 residential mortgage backed securities | 17,811 |  |  | (81) |  |  | 5,624 |  |  | (72) |  |  | 23,435 |  |  | (153) |
Corporate debt securities | 3,965 |  |  | (35) |  |  | — |  |  | — |  |  | 3,965 |  |  | (35) |
| $ | 159,032 |  |  | $ | (2,476) |  |  | $ | 88,855 |  |  | $ | (2,213) |  |  | $ | 247,887 |  |  | $ | (4,689) |
Realized gains and losses | Proceeds and gross realized gains (losses) on investment securities for the years ended December 31, 2020, 2019, and 2018 are shown below (in thousands):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Available-for-Sale Securities |  |  |  |  |  |
Proceeds from sales or calls |  | $ | 283,956 |  |  | $ | 281,906 |  |  | $ | 246,824 |
Gross realized gains from sales or calls |  | $ | 7,123 |  |  | $ | 5,319 |  |  | $ | 1,976 |
Gross realized losses from sales or calls |  | $ | (2,871) |  |  | $ | (120) |  |  | $ | (662) |
Investments by contractual maturity | The amortized cost and estimated fair value of available-for-sale investment securities at December 31, 2020 and 2019 by contractual maturity are shown in the two tables below (in thousands). Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | December 31, 2020 |  |  |  |  | December 31, 2019
|  | Amortized Cost |  | Estimated Fair Value |  |  |  |  | Amortized Cost |  | Estimated Fair Value
Within one year |  | $ | 298 |  |  | $ | 305 |  |  |  |  |  | $ | — |  |  | $ | — |
After one year through five years |  | 3,254 |  |  | 3,631 |  |  |  |  |  | 1,561 |  |  | 1,697 |
After five years through ten years |  | 18,330 |  |  | 20,644 |  |  |  |  |  | 20,280 |  |  | 21,088 |
After ten years |  | 339,852 |  |  | 354,985 |  |  |  |  |  | 67,733 |  |  | 68,326 |
|  | 361,734 |  |  | 379,565 |  |  |  |  |  | 89,574 |  |  | 91,111 |
Investment securities not due at a single maturity date: |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | 651 |  |  | 680 |  |  |  |  |  | 14,740 |  |  | 14,494 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 214,203 |  |  | 216,298 |  |  |  |  |  | 198,125 |  |  | 196,719 |
Private label mortgage and asset backed securities |  | 82,413 |  |  | 83,508 |  |  |  |  |  | 155,308 |  |  | 159,378 |
Corporate debt securities |  | 30,000 |  |  | 30,041 |  |  |  |  |  | 9,000 |  |  | 9,044 |
|  | $ | 689,001 |  |  | $ | 710,092 |  |  |  |  |  | $ | 466,747 |  |  | $ | 470,746 |

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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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