INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of Debt Securities, Available-for-sale

The following table summarizes the amortized cost and the estimated fair value of available for sale debt securities as of the dates indicated:

(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
At June 30, 2020:
Government and Government Sponsored Entities:
Residential mortgage backed securities ('MBS") and collateralized mortgage obligations ("CMOs")	$	258,137	$	3,639	$	(159)	$	261,617
Commercial MBS and CMOs	352,247		6,594		(830)		358,011
Agency bonds	15,680		59		(43)		15,696
Total available for sale debt securities	$	626,064	$	10,292	$	(1,032)	$	635,324
At December 31, 2019:
Government and Government Sponsored Entities:
Residential MBS and CMOs	$	145,333	$	340	$	(481)	$	145,192
Commercial MBS and CMOs	353,727		3,267		(825)		356,169
Agency bonds	123,977		59		(323)		123,713
Total available for sale debt securities	$	623,037	$	3,666	$	(1,629)	$	625,074

The following tables summarize the gross unrealized losses and fair value of available for sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

	June 30, 2020
	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Government and Government Sponsored Entities:
Residential MBS and CMOs	$	19,570	$	(111)	$	19,713	$	(48)	$	39,283	$	(159)
Commercial MBS and CMOs	80,844		(345)		59,557		(485)		140,401		(830)
Agency bonds	12,637		(43)		—		—		12,637		(43)
Total available for sale debt securities	$	113,051	$	(499)	$	79,270	$	(533)	$	192,321	$	(1,032)

	December 31, 2019
	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Government and Government Sponsored Entities:
Residential MBS and CMOs	$	43,623	$	(181)	$	54,870	$	(300)	$	98,493	$	(481)
Commercial MBS and CMOs	95,950		(339)		57,219		(486)		153,169		(825)
Agency bonds	29,471		(86)		87,405		(237)		116,876		(323)
Total available for sale debt securities	$	169,044	$	(606)	$	199,494	$	(1,023)	$	368,538	$	(1,629)

Schedule of Held-to-maturity Securities

The following table summarizes the amortized cost and estimated fair value of held to maturity investment securities as of the dates indicated:

(Dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Estimated Fair Value
As of June 30, 2020:
Government Sponsored Entities:
Residential MBS	$	9,321	$	439	$	—	$	9,760
Other investments	79		—		—		79
Total held to maturity investment securities	$	9,400	$	439	$	—	$	9,839
As of December 31, 2019:
Government Sponsored Entities:
Residential MBS	$	10,087	$	205	$	(26)	$	10,266
Other investments	83		—		—		83
Total held to maturity investment securities	$	10,170	$	205	$	(26)	$	10,349

The following table summarizes the gross unrecognized losses and fair value of held to maturity investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrecognized loss position:

	Less than 12 Months				12 Months or More				Total
(Dollars in thousands)	Fair Value		Unrecognized Losses		Fair Value		Unrecognized Losses		Fair Value		Unrecognized Losses
As of December 31, 2019:
Government Sponsored Entities:
Residential MBS	$	—	$	—	$	2,253	$	(26)	$	2,253	$	(26)

Schedule of Debt Maturities of Available-for-sale and Held-to-maturity Securities

The following table summarizes the scheduled maturities of available for sale and held to maturity investment securities as of June 30, 2020:

	June 30, 2020
(Dollars in thousands)	Amortized Cost		Fair Value
Available for sale debt securities
Five to ten years	$	3,596	$	3,588
Beyond ten years	12,084		12,108
MBS and CMOs	610,384		619,628
Total available for sale debt securities	$	626,064	$	635,324
Held to maturity investments securities
Beyond ten years	$	79	$	79
MBS	9,321		9,760
Total held to maturity debt securities	$	9,400	$	9,839