Securities (Tables)

6 Months Ended

Jun. 30, 2020

Securities

Schedule of amortized cost and estimated fair value of securities

			Gross		Gross		Allowance		Estimated
	Amortized		Unrealized		Unrealized		for Credit		Fair
June 30, 2020	Cost		Gains		(Losses)		Losses		Value
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	225,429	$	6,906	$	—	$	—	$	232,335
U.S. Treasury		89,476		1,754		—		—		91,230
Total	$	314,905	$	8,660	$	—	$	—	$	323,565
			Gross		Gross		Estimated		Allowance
	Amortized		Unrecognized		Unrecognized		Fair		for Credit
June 30, 2020	Cost		Gains		(Losses)		Value		Losses
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	249,070	$	7,895	$	(1)	$	256,964	$	—
Municipals - exempt from Federal tax		73,662		1,826		—		75,488		(55)
Total	$	322,732	$	9,721	$	(1)	$	332,452	$	(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		Unrecognized		Unrecognized		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
June 30, 2020	Value		(Losses)		Value		(Losses)		Value		(Losses)
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	512	$	(1)	$	—	$	—	$	512	$	(1)
Total	$	512	$	(1)	$	—	$	—	$	512	$	(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				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
	(Dollars in thousands)
Proceeds	$	30,085	$	59,878	$	56,598	$	59,878
Gross gains		170		608		270		608
Gross losses		—		(60)		—		(60)

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	$	74,608		75,861
Due after one through five years		14,868		15,369
Agency mortgage-backed securities		225,429		232,335
Total	$	314,905	$	323,565

	Held-to-maturity
	Amortized		Estimated
	Cost		Fair Value
	(Dollars in thousands)
Due 3 months or less	$	530	$	531
Due after 3 months through one year		914		917
Due after one through five years		7,283		7,537
Due after five through ten years		33,354		34,201
Due after ten years		31,581		32,302
Agency mortgage-backed securities		249,070		256,964
Total	$	322,732	$	332,452

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 June 30, 2020	$	55