Held to Maturity Debt Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Held to maturity debt securities at December 31, 2019 and 2018 are summarized as follows (in thousands):


	2019
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value
Agency obligations	$	6,599	11	(9)	6,601
Mortgage-backed securities	118		4	—	122
State and municipal obligations	437,074		14,394	(115)	451,353
Corporate obligations	9,838		58	(6)	9,890
	$	453,629	14,467	(130)	467,966


	2018
	Amortized cost		Gross unrealized gains	Gross unrealized losses	Fair value
Agency obligations	$	4,989	1	(94)	4,896
Mortgage-backed securities	187		3	—	190
State and municipal obligations	463,801		4,329	(3,767)	464,363
Corporate obligations	10,448		1	(158)	10,291
	$	479,425	4,334	(4,019)	479,740

Securities Held to Maturity by Contractual Maturity

The amortized cost and fair value of held to maturity debt securities at December 31, 2019 by contractual maturity are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.


	2019
	Amortized cost		Fair value
Due in one year or less	$	9,589	9,605
Due after one year through five years	105,715		107,873
Due after five years through ten years	249,399		257,856
Due after ten years	88,808		92,510
	$	453,511	467,844

Disclosure Regarding Length of Time on Investment Securities with Temporary Impairment

The following tables represent the Company’s disclosure on held to maturity debt securities with temporary impairment (in thousands):


	December 31, 2019 Unrealized Losses
	Less than 12 months				12 months or longer			Total
	Fair value		Gross unrealized losses	Fair value	Gross unrealized losses	Fair value	Gross unrealized losses
Agency obligations	$	3,601	(9)	—	—	3,601	(9)
State and municipal obligations	7,675		(42)	2,093	(73)	9,768	(115)
Corporate obligations	3,254		(6)	—	—	3,254	(6)
	$	14,530	(57)	2,093	(73)	16,623	(130)


	December 31, 2018 Unrealized Losses
	Less than 12 months				12 months or longer			Total
	Fair value		Gross unrealized losses	Fair value	Gross unrealized losses	Fair value	Gross unrealized losses
Agency obligations	$	—	—	4,525	(94)	4,525	(94)
State and municipal obligations	96,412		(918)	81,663	(2,849)	178,075	(3,767)
Corporate obligations	—		—	9,004	(158)	9,004	(158)
	$	96,412	(918)	95,192	(3,101)	191,604	(4,019)