INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Values of Investment Securities Available-for-sale

Amortized cost and fair values of investment securities available-for-sale at December 31, 2020 are summarized as follows:

(Dollars in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
United States government agency securities	$	56,207	$	995	$	(210)	$	56,992
United States sponsored mortgage-backed securities	94,968		972		(171)		95,769
Municipal securities	223,642		8,327		(82)		231,887
Other debt securities	7,500		—		—		7,500
Total debt securities	382,317		10,294		(463)		392,148
Other securities	18,401		146		(71)		18,476
Total investment securities available-for-sale	$	400,718	$	10,440	$	(534)	$	410,624

Amortized cost and fair values of investment securities available-for-sale at December 31, 2019 are summarized as follows:

(Dollars in thousands)	Amortized Cost		Unrealized Gain		Unrealized Loss		Fair Value
United States government agency securities	$	52,046	$	199	$	(249)	$	51,996
United States sponsored mortgage-backed securities	58,748		188		(624)		58,312
Municipal securities	108,750		4,399		(57)		113,092
Total debt securities	219,544		4,786		(930)		223,400
Other securities	12,247		181		(7)		12,421
Total investment securities available-for-sale	$	231,791	$	4,967	$	(937)	$	235,821

The following table summarizes amortized cost and fair values of debt securities by maturity:

	December 31, 2020
	Available for sale
(Dollars in thousands)	Amortized Cost		Fair Value
Within one year	$	—	$	—
After one year, but within five years	9,254		9,629
After five years, but within ten years	36,097		36,863
After ten years	336,966		345,656
Total	$	382,317	$	392,148

Investments in an Unrealized Loss Position

The following table discloses the length of time that investments have remained in an unrealized loss position at December 31, 2020:

(Dollars in thousands)	Less than 12 months				12 months or more
Description and number of positions	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
United States government agency securities (27)	$	19,021	$	(68)	$	12,574	$	(142)
United States sponsored mortgage-backed securities (9)	15,331		(155)		3,349		(16)
Municipal securities (14)	11,856		(82)		—		—
Other securities (5)	3,947		(71)		—		—
	$	50,155	$	(376)	$	15,923	$	(158)

The following table discloses the length of time that investments have remained in an unrealized loss position at December 31, 2019:

(Dollars in thousands)	Less than 12 months				12 months or more
Description and number of positions	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
United States government agency securities (26)	$	8,160	$	(59)	$	15,399	$	(190)
United States sponsored mortgage-backed securities (40)	16,660		(170)		27,498		(454)
Municipal securities (13)	6,018		(40)		828		(17)
Other securities (2)	1,093		(7)		—		—
	$	31,931	$	(276)	$	43,725	$	(661)

Realized Gain (Loss) on Investments

The following table summarizes the investment sales and related gains and losses in 2020, 2019 and 2018:

(Dollars in thousands)	2020		2019		2018
Sales of available-for-sale investments	$	54,023	$	31,220	$	2,743
Gross gains	948		105		352
Gross losses	34		271		25
Sales of equity investments	$	4,622	$	5,968	$	—
Gross gains	3,501		—		—
Gross losses	—		7		—