XML 105 R34.htm IDEA: XBRL DOCUMENT v3.20.1
Securities (Tables)
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
The following tables summarize securities available-for-sale and securities held-to-maturity as of December 31, 2019 and 2018.
 
 
December 31, 2019
 
 
Amortized
 
Gross Unrealized
 
Fair
 
 
Cost
 
Gains
 
Losses
 
Value
Securities available-for-sale
 
 

 
 

 
 

 
 

U.S. Government-sponsored agencies
 
$
77,715

 
$
99

 
$
(1,942
)
 
$
75,872

Municipal securities
 
97,447

 
1,706

 
(1,501
)
 
97,652

Agency mortgage-backed securities
 
264,142

 
1,304

 
(4,006
)
 
261,440

Private label mortgage-backed securities
 
63,704

 
97

 
(188
)
 
63,613

Asset-backed securities
 
5,000

 
—

 
(45
)
 
4,955

Corporate securities
 
38,632

 
220

 
(1,532
)
 
37,320

Total available-for-sale
 
$
546,640

 
$
3,426

 
$
(9,214
)
 
$
540,852

 
 
December 31, 2018
 
 
Amortized
 
Gross Unrealized
 
Fair
 
 
Cost
 
Gains
 
Losses
 
Value
Securities available-for-sale
 
 

 
 

 
 

 
 

U.S. Government-sponsored agencies
 
$
109,631

 
$
20

 
$
(2,066
)
 
$
107,585

Municipal securities
 
97,090

 
90

 
(4,674
)
 
92,506

Agency mortgage-backed securities
 
242,293

 
162

 
(8,721
)
 
233,734

Private label mortgage-backed securities
 
9,199

 
—

 
(21
)
 
9,178

Asset-backed securities
 
5,002

 
—

 
(143
)
 
4,859

Corporate securities
 
36,678

 
—

 
(3,195
)
 
33,483

Total available-for-sale
 
$
499,893

 
$
272

 
$
(18,820
)
 
$
481,345
Schedule Of Held-To-Maturity Securities Reconciliation
 
 
December 31, 2018
 
 
Amortized
 
Gross Unrealized
 
Fair
 
 
Cost
 
Gains
 
Losses
 
Value
Securities held-to-maturity
 
 

 
 

 
 

 
 

Municipal securities
 
$
10,157

 
$
—

 
$
(356
)
 
$
9,801

Corporate securities
 
12,593

 
80

 
(56
)
 
12,617

Total held-to-maturity
 
$
22,750

 
$
80

 
$
(412
)
 
$
22,418

 
 
December 31, 2019
 
 
Amortized
 
Gross Unrealized
 
Fair
 
 
Cost
 
Gains
 
Losses
 
Value
Securities held-to-maturity
 
 

 
 

 
 

 
 

Municipal securities
 
$
10,142

 
$
226

 
$
—

 
$
10,368

Corporate securities
 
51,736

 
588

 
(132
)
 
52,192

Total held-to-maturity
 
$
61,878

 
$
814

 
$
(132
)
 
$
62,560
Investments Classified by Contractual Maturity Date
The carrying value of securities at December 31, 2019 is shown below by their contractual maturity date. Actual maturities will differ because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
 
Available-for-Sale
 
 
Amortized
Cost
 
Fair
Value
Within one year
 
$
30

 
$
31

One to five years
 
9,200

 
7,789

Five to ten years
 
81,237

 
80,175

After ten years
 
123,327

 
122,849

 
 
213,794

 
210,844

Agency mortgage-backed securities
 
264,142

 
261,440

Private label mortgage-backed securities
 
63,704

 
63,613

Asset-backed securities
 
5,000

 
4,955

Total
 
$
546,640

 
$
540,852


 
 
Held-to-Maturity
 
 
Amortized
Cost
 
Fair
Value
One to five years
 
$
998

 
$
1,005

Five to ten years
 
50,848

 
51,493

After ten years
 
10,032

 
10,062

Total
 
$
61,878

 
$
62,560
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
The following tables show the securities portfolio’s gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2019 and 2018:

 
 
December 31, 2019
 
 
Less Than 12 Months
 
12 Months or Longer
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Securities available-for-sale
 
 

 
 

 
 

 
 

 
 

 
 

U.S. Government-sponsored agencies
 
$
4,820

 
$
(61
)
 
$
62,182

 
$
(1,881
)
 
$
67,002

 
$
(1,942
)
Municipal securities
 
1,279

 
(1,501
)
 
—

 
—

 
1,279

 
(1,501
)
Agency mortgage-backed securities
 
91,159

 
(829
)
 
83,212

 
(3,177
)
 
174,371

 
(4,006
)
Private label mortgage-backed securities
 
30,077

 
(180
)
 
2,884

 
(8
)
 
32,961

 
(188
)
Asset-backed securities
 
—

 
—

 
4,955

 
(45
)
 
4,955

 
(45
)
Corporate securities
 
—

 
—

 
22,985

 
(1,532
)
 
22,985

 
(1,532
)
Total
 
$
127,335

 
$
(2,571
)
 
$
176,218

 
$
(6,643
)
 
$
303,553

 
$
(9,214
)
 
 
December 31, 2019
 
 
Less Than 12 Months
 
12 Months or Longer
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Securities held-to-maturity
 
 

 
 

 
 

 
 

 
 

 
 

Corporate securities
 
13,977

 
(132
)
 
—

 
—

 
13,977

 
(132
)
Total
 
$
13,977

 
$
(132
)
 
$
—

 
$
—

 
$
13,977

 
$
(132
)


 
 
December 31, 2018
 
 
Less Than 12 Months
 
12 Months or Longer
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Securities available-for-sale
 
 

 
 

 
 

 
 

 
 

 
 

U.S. Government-sponsored agencies
 
$
69,798

 
$
(893
)
 
$
33,511

 
$
(1,173
)
 
$
103,309

 
$
(2,066
)
Municipals
 
23,747

 
(710
)
 
59,938

 
(3,964
)
 
83,685

 
(4,674
)
Agency mortgage-backed securities
 
47,000

 
(509
)
 
172,442

 
(8,212
)
 
219,442

 
(8,721
)
Private label mortgage-backed securities
 
9,177

 
(20
)
 
—

 
(1
)
 
9,177

 
(21
)
Asset-backed securities
 
4,859

 
(143
)
 
—

 
—

 
4,859

 
(143
)
Corporate securities
 
14,092

 
(586
)
 
19,391

 
(2,609
)
 
33,483

 
(3,195
)
Total
 
$
168,673

 
$
(2,861
)
 
$
285,282

 
$
(15,959
)
 
$
453,955

 
$
(18,820
)
Held to Maturity, Continuous Unrealized Loss Position, Fair Value
 
 
December 31, 2019
 
 
Less Than 12 Months
 
12 Months or Longer
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Securities held-to-maturity
 
 

 
 

 
 

 
 

 
 

 
 

Corporate securities
 
13,977

 
(132
)
 
—

 
—

 
13,977

 
(132
)
Total
 
$
13,977

 
$
(132
)
 
$
—

 
$
—

 
$
13,977

 
$
(132
)
 
 
December 31, 2018
 
 
Less Than 12 Months
 
12 Months or Longer
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Securities held-to-maturity
 
 

 
 

 
 

 
 

 
 

 
 

Municipal securities
 
$
9,801

 
$
(356
)
 
$
—

 
$
—

 
$
9,801

 
$
(356
)
Corporate securities
 
6,037

 
(56
)
 
—

 
—

 
6,037

 
(56
)
Total
 
$
15,838

 
$
(412
)
 
$
—

 
$
—

 
$
15,838

 
$
(412
)
Schedule of Accumulated Other Comprehensive Income (Loss)
Amounts reclassified from accumulated other comprehensive loss and the affected line items in the consolidated statements of income during the years ended December 31, 2019, 2018 and 2017 were as follows:
Details About Accumulated Other Comprehensive Loss Components
 
Amounts Reclassified from
Accumulated Other Comprehensive Loss
for the Year Ended December 31,
 
Affected Line Item in the
Statements of Income
 
2019
 
2018
 
2017
 
Unrealized gains and losses on securities available-for-sale
 
 

 
 

 
 
 
 
Loss realized in earnings
 
$
(458
)
 
$
—

 
$
(8
)
 
Loss on sale of securities
Total reclassified amount before tax
 
(458
)
 
—

 
(8
)
 
Income before income taxes
Tax benefit
 
(124
)
 
—

 
(3
)
 
Income tax provision
Total reclassifications out of accumulated other comprehensive loss
 
$
(334
)
 
$
—

 
$
(5
)
 
Net Income
 
 
Available-For-Sale Securities
 
Cash Flow Hedges
 
Total
Balance, January 1, 2017
 
$
(9,268
)
 
$
—

 
$
(9,268
)
Net change in unrealized gain
 
6,280

 
—

 
6,280

Reclassification of net loss realized and included in earnings
 
8

 
—

 
8

Accumulated other comprehensive loss before income tax
 
(2,980
)
 
—

 
(2,980
)
Income tax provision
 
2,039

 
—

 
2,039

Balance, December 31, 2017
 
$
(5,019
)
 
$
—

 
$
(5,019
)
Net change in unrealized loss
 
(10,466
)
 
(4,358
)
 
(14,824
)
Reclassification of certain tax effects 1
 
(1,063
)
 
—

 
(1,063
)
Accumulated other comprehensive loss before income tax
 
(16,548
)
 
(4,358
)
 
(20,906
)
Income tax benefit
 
(3,188
)
 
(1,177
)
 
(4,365
)
Balance, December 31, 2018
 
$
(13,360
)

$
(3,181
)
 
$
(16,541
)
Net change in unrealized gain (loss)
 
12,072

 
(9,071
)
 
3,001

Reclassification of net loss realized and included in earnings
 
458

 
—

 
458

Accumulated other comprehensive loss before income tax
 
(830
)
 
(12,252
)
 
(13,082
)
Income tax provision (benefit)
 
3,558

 
(2,449
)
 
1,109

Balance, December 31, 2019
 
$
(4,388
)
 
$
(9,803
)
 
$
(14,191
)
1 Represents the reclassification of stranded income tax effects to Retained Earnings upon adoption of ASU 2018-02 and ASU 2016-01.