Securities (Tables)

3 Months Ended

Mar. 31, 2020

Securities

Schedule of amortized cost and estimated fair value of securities

			Gross		Gross		Allowance		Estimated
	Amortized		Unrealized		Unrealized		for Credit		Fair
March 31, 2020	Cost		Gains		(Losses)		Losses		Value
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	244,968	$	6,868	$	—	$	—	$	251,836
U.S. Treasury		119,192		2,542		—		—		121,734
Total	$	364,160	$	9,410	$	—	$	—	$	373,570
			Gross		Gross		Estimated		Allowance
	Amortized		Unrealized		Unrealized		Fair		for Credit
March 31, 2020	Cost		Gains		(Losses)		Value		Losses
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	270,211	$	6,746	$	(1)	$	276,956	$	—
Municipals - exempt from Federal tax		77,888		1,309		—		79,197		(55)
Total	$	348,099	$	8,055	$	(1)	$	356,153	$	(55)

			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
December 31, 2019	Cost		Gains		(Losses)		Value
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	283,598	$	934	$	(171)	$	284,361
U.S. Treasury		118,939		1,525		—		120,464
Total	$	402,537	$	2,459	$	(171)	$	404,825
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
December 31, 2019	Cost		Gains		(Losses)		Value
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	285,344	$	1,206	$	(968)	$	285,582
Municipals - exempt from Federal tax		81,216		1,313		(4)		82,525
Total	$	366,560	$	2,519	$	(972)	$	368,107

Schedule of securities with unrealized losses

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
March 31, 2020	Value		(Losses)		Value		(Losses)		Value		(Losses)
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	—	$	—	$	1,183	$	(1)	$	1,183	$	(1)
Total	$	—	$	—	$	1,183	$	(1)	$	1,183	$	(1)

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2019	Value		(Losses)		Value		(Losses)		Value		(Losses)
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	100,816	$	(105)	$	27,534	$	(66)	$	128,350	$	(171)
Total	$	100,816	$	(105)	$	27,534	$	(66)	$	128,350	$	(171)
Securities held-to-maturity:
Agency mortgage-backed securities	$	50,060	$	(178)	$	88,128	$	(790)	$	138,188	$	(968)
Municipals - exempt from Federal tax		1,556		(4)		—		—		1,556		(4)
Total	$	51,616	$	(182)	$	88,128	$	(790)	$	139,744	$	(972)

Schedule of proceeds from sales of securities and the resulting gains and losses

	Three Months Ended
	March 31,
	2020		2019
	(Dollars in thousands)
Proceeds	$	26,513	$	—
Gross gains		100		—
Gross losses		—		—

Schedule of amortized cost and estimated fair values of securities, by contractual maturity

	Available-for-sale
	Amortized		Estimated
	Cost		Fair Value
	(Dollars in thousands)
Due after 3 months through one year	$	74,668		75,759
Due after one through five years		44,524		45,975
Agency mortgage-backed securities		244,968		251,836
Total	$	364,160	$	373,570

	Held-to-maturity
	Amortized		Estimated
	Cost		Fair Value
	(Dollars in thousands)
Due after 3 months through one year	$	1,446	$	1,451
Due after one through five years		6,410		6,574
Due after five through ten years		36,178		36,812
Due after ten years		33,854		34,360
Agency mortgage-backed securities		270,211		276,956
Total	$	348,099	$	356,153

Schedule of rollforward by major security type of the allowance for credit losses on debt securities held-to-maturity

		Municipals
		(Dollars in thousands)
Beginning balance January 1, 2020	$	-
Impact of adopting Topic 326		58
Provision (credit) for credit loss		(3)
Ending balance March 31, 2020	$	55