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INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale
The amortized cost and estimated fair value of investment securities available for sale, along with unrealized gains and losses, are summarized as follows:
(dollars in thousands)
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
September 30, 2018
 
 
 
 
 
 
 
 
State, county and municipal securities
 
$
151,934

 
$
696

 
$
(881
)
 
$
151,749

Corporate debt securities
 
67,175

 
502

 
(559
)
 
67,118

Mortgage-backed securities
 
965,185

 
470

 
(21,952
)
 
943,703

Total debt securities
 
$
1,184,294

 
$
1,668

 
$
(23,392
)
 
$
1,162,570

 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
State, county and municipal securities
 
$
135,968

 
$
1,989

 
$
(163
)
 
$
137,794

Corporate debt securities
 
46,659

 
721

 
(237
)
 
47,143

Mortgage-backed securities
 
630,666

 
1,762

 
(6,492
)
 
625,936

Total debt securities
 
$
813,293

 
$
4,472

 
$
(6,892
)
 
$
810,873
Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity
The amortized cost and estimated fair value of available for sale securities at September 30, 2018 by contractual maturity are summarized in the table below. Expected maturities for mortgage-backed securities may differ from contractual maturities because in certain cases borrowers can prepay obligations without prepayment penalties. Therefore, these securities are not included in the following maturity summary.
(dollars in thousands)
 
Amortized
Cost
 
Estimated
Fair
Value
Due in one year or less
 
$
16,066

 
$
16,077

Due from one year to five years
 
87,492

 
86,858

Due from five to ten years
 
86,201

 
86,565

Due after ten years
 
29,350

 
29,367

Mortgage-backed securities
 
965,185

 
943,703

 
 
$
1,184,294

 
$
1,162,570
Schedule of Gross Unrealized Losses and Fair Value of Securities
The following table details the gross unrealized losses and estimated fair value of securities aggregated by category and duration of continuous unrealized loss position at September 30, 2018 and December 31, 2017.
 
 
Less Than 12 Months
 
12 Months or More
 
Total
(dollars in thousands)
 
Estimated
Fair
Value
 
Unrealized
Losses
 
Estimated
Fair
Value
 
Unrealized
Losses
 
Estimated
Fair
Value
 
Unrealized
Losses
September 30, 2018
 
 

 
 

 
 

 
 

 
 

 
 

State, county and municipal securities
 
$
83,727

 
$
(688
)
 
$
12,067

 
$
(193
)
 
$
95,794

 
$
(881
)
Corporate debt securities
 
12,141

 
(113
)
 
17,970

 
(446
)
 
30,111

 
(559
)
Mortgage-backed securities
 
583,330

 
(9,344
)
 
267,078

 
(12,608
)
 
850,408

 
(21,952
)
Total debt securities
 
$
679,198

 
$
(10,145
)
 
$
297,115

 
$
(13,247
)
 
$
976,313

 
$
(23,392
)
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 

 
 

 
 

 
 

 
 

 
 

State, county and municipal securities
 
$
33,976

 
$
(115
)
 
$
4,725

 
$
(48
)
 
$
38,701

 
$
(163
)
Corporate debt securities
 
3,465

 
(35
)
 
18,853

 
(202
)
 
22,318

 
(237
)
Mortgage-backed securities
 
262,353

 
(2,401
)
 
190,368

 
(4,091
)
 
452,721

 
(6,492
)
Total debt securities
 
$
299,794

 
$
(2,551
)
 
$
213,946

 
$
(4,341
)
 
$
513,740

 
$
(6,892
)
Gross Realized Gains And Losses On Sales Of Available For Sale Securities
The following table is a summary of sales activities in the Company’s investment securities available for sale for the nine months ended September 30, 2018 and 2017:
(dollars in thousands)
 
September 30,
2018
 
September 30,
2017
Gross gains on sales of securities
 
$
390

 
$
38

Gross losses on sales of securities
 
(301
)
 
(1
)
Net realized gains on sales of securities available for sale
 
$
89

 
$
37

 
 
 
 
 
Sales proceeds
 
$
68,727

 
$
3,090
Gain (Loss) on Investments
Total gain (loss) on securities reported on the consolidated statements of income and comprehensive income is comprised of the following for the nine months ended September 30, 2018 and 2017:
(dollars in thousands)
 
September 30,
2018
 
September 30,
2017
Net realized gains on sales of securities available for sale
 
$
89

 
$
37

Unrealized holding losses on equity securities
 
(127
)
 
—

Total gain (loss) on securities
 
$
(38
)
 
$
37