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SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost and Fair Value of Available for Sale Securities
The following table summarizes the amortized cost and fair value of the securities available-for-sale portfolio at March 31, 2020 and December 31, 2019 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income.
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
March 31, 2020
Mortgage-backed securities: residential$286,307  $8,369  $(4) $294,672  
Mortgage-backed securities: commercial17,445  336  (86) 17,695  
Corporate notes4,500  108  (85) 4,523  
State and political subdivisions230,728  3,447  (7,840) 226,335  
Total$538,980  $12,260  $(8,015) $543,225  

Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2019
Mortgage-backed securities: residential$374,923  $1,876  $(856) $375,943  
Mortgage-backed securities: commercial17,858  56  (134) 17,780  
Corporate notes32,825  539  (3) 33,361  
State and political subdivisions222,624  2,566  (142) 225,048  
Total$648,230  $5,037  $(1,135) $652,132  
Summary of Proceeds from Sales and Calls of Securities Available for Sale and Associated Gains and Losses
The proceeds from sales, calls, and prepayments of available for sale securities and the associated gains and losses were as follows:
Three Months Ended
March 31,
20202019
Proceeds$102,426  $259,613  
Gross gains1,424  1,801  
Gross losses(28) (1,652) 
Schedule of Amortized Cost and Fair Value of Investment Securities Portfolio by Contractual Maturity
The amortized cost and fair value of the investment securities portfolio are shown by contractual maturity. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.
March 31, 2020
Amortized
Cost
Fair
Value
Available-for-sale
Over one year through five years$1,606  $1,642  
Over five years through ten years8,959  8,821  
Over ten years224,663  220,395  
Mortgage-backed securities: residential286,307  294,672  
Mortgage-backed securities: commercial17,445  17,695  
Total$538,980  $543,225  
Schedule of Unrealized Losses and Fair Value by Major Security Type
The following table summarizes the securities with unrealized and unrecognized losses at March 31, 2020 and December 31, 2019, aggregated by major security type and length of time in a continuous unrealized loss position:

Less Than 12 Months
12 Months or Longer
Total
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
March 31, 2020
Available-for-sale
Mortgage-backed securities: residential$349  $(3) $1,246  $(1) $1,595  $(4) 
Mortgage-backed securities: commercial—  —  3,193  (86) 3,193  (86) 
Corporate notes1,915  (85) —  —  1,915  (85) 
State and political subdivisions121,212  (7,840) —  —  121,212  (7,840) 
Total available-for-sale$123,476  $(7,928) $4,439  $(87) $127,915  $(8,015) 

Less Than 12 Months
12 Months or Longer
Total
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
December 31, 2019
Available-for-sale
Mortgage-backed securities: residential$49,390  $(172) $91,644  $(684) $141,034  $(856) 
Asset-backed securities4,436  (29) 7,286  (105) 11,722  (134) 
Corporate notes997  (3) —  —  997  (3) 
State and political subdivisions29,843  (142) —  —  29,843  (142) 
Total available-for-sale$84,666  $(346) $98,930  $(789) $183,596  $(1,135)