INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2020

INVESTMENT SECURITIES

Schedule of investment securities classified as available for sale

	March 31, 2020
							Allowance
			Gross		Gross		for credit
	Amortized		unrealized		unrealized		losses on		Fair
(dollars in thousands)	cost		gains		losses		investments		value
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities	$	46,428	$	929	$	—	$	—	$	47,357
Mortgage-backed securities - agency		317,332		9,417		49		—		326,700
Mortgage-backed securities - non-agency		28,121		—		840		—		27,281
State and municipal securities		112,500		3,897		284		19		116,094
Corporate securities		140,287		1,168		2,577		56		138,822
Total available for sale securities	$	644,668	$	15,411	$	3,750	$	75	$	656,254

	December 31, 2019
							Allowance
			Gross		Gross		for credit
	Amortized		unrealized		unrealized		losses on		Fair
(dollars in thousands)	cost		gains		losses		investments		value
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities	$	59,600	$	442	$	22		N/A	$	60,020
Mortgage-backed securities - agency		321,840		3,368		234		N/A		324,974
Mortgage-backed securities - non-agency		17,198		3		53		N/A		17,148
State and municipal securities		119,371		5,195		11		N/A		124,555
Corporate securities		121,159		2,131		554		N/A		122,736
Total available for sale securities	$	639,168	$	11,139	$	874		N/A	$	649,433

Schedule of unrealized losses and fair values for investment securities

	March 31, 2020
	Less than 12 Months				12 Months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	value		loss		value		loss		value		loss
Investment securities available for sale
Mortgage-backed securities - agency	$	10,175	$	42	$	1,255	$	7	$	11,430	$	49
Mortgage-backed securities - non-agency		25,849		840		—		—		25,849		840
Corporate securities		41,499		1,287		—		—		41,499		1,287
Total available for sale securities	$	77,523	$	2,169	$	1,255	$	7	$	78,778	$	2,176

	December 31, 2019
	Less than 12 Months				12 Months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	value		loss		value		loss		value		loss
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities	$	7,200	$	22	$	—	$	—	$	7,200	$	22
Mortgage-backed securities - agency		75,336		170		7,170		64		82,506		234
Mortgage-backed securities - non-agency		11,059		53		—		—		11,059		53
State and municipal securities		1,813		11		—		—		1,813		11
Corporate securities		20,269		481		3,915		73		24,184		554
Total available for sale securities	$	115,677	$	737	$	11,085	$	137	$	126,762	$	874

Schedule of major security type

	State and municipal		Corporate
(dollars in thousands)	securities		securities
Balances, January 1, 2020	$	—	$	—
Impact of adopting ASC 326		—		—
Additions for securities for which no previous expected credit losses were recognized		19		56
Balances, March 31, 2020	$	19	$	56

Contractual maturity of amortized cost and fair value

	Amortized		Fair
(dollars in thousands)	cost		value
Investment securities available for sale
Within one year	$	33,584	$	33,801
After one year through five years		78,025		79,387
After five years through ten years		169,041		169,579
After ten years		18,565		19,506
Mortgage-backed securities		345,453		353,981
Total available for sale securities	$	644,668	$	656,254