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INVESTMENT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2019
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
March 31, 2019
 
 
 
 
 
 
 
 
State, county and municipal securities
 
$
106,468

 
$
1,312

 
$
(40
)
 
$
107,740

Corporate debt securities
 
56,901

 
412

 
(161
)
 
57,152

Mortgage-backed securities
 
1,072,783

 
5,867

 
(9,107
)
 
1,069,543

Total debt securities
 
$
1,236,152

 
$
7,591

 
$
(9,308
)
 
$
1,234,435

 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
 
State, county and municipal securities
 
$
149,670

 
$
1,367

 
$
(304
)
 
$
150,733

Corporate debt securities
 
67,123

 
718

 
(527
)
 
67,314

Mortgage-backed securities
 
982,183

 
4,172

 
(11,979
)
 
974,376

Total debt securities
 
$
1,198,976

 
$
6,257

 
$
(12,810
)
 
$
1,192,423
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 March 31, 2019 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 shown separately.
(dollars in thousands)
 
Amortized
Cost
 
Estimated
Fair
Value
Due in one year or less
 
$
14,170

 
$
14,178

Due from one year to five years
 
60,032

 
60,448

Due from five to ten years
 
67,648

 
68,541

Due after ten years
 
21,519

 
21,725

Mortgage-backed securities
 
1,072,783

 
1,069,543

 
 
$
1,236,152

 
$
1,234,435
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 March 31, 2019 and December 31, 2018.
 
 
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
March 31, 2019
 
 

 
 

 
 

 
 

 
 

 
 

State, county and municipal securities
 
$
5,641

 
$
(3
)
 
$
13,157

 
$
(37
)
 
$
18,798

 
$
(40
)
Corporate debt securities
 
9,168

 
(60
)
 
8,049

 
(101
)
 
17,217

 
(161
)
Mortgage-backed securities
 
78,426

 
(174
)
 
478,497

 
(8,933
)
 
556,923

 
(9,107
)
Total debt securities
 
$
93,235

 
$
(237
)
 
$
499,703

 
$
(9,071
)
 
$
592,938

 
$
(9,308
)
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 

 
 

 
 

 
 

 
 

 
 

State, county and municipal securities
 
$
23,784

 
$
(52
)
 
$
33,873

 
$
(252
)
 
$
57,657

 
$
(304
)
Corporate debt securities
 
17,291

 
(111
)
 
17,952

 
(416
)
 
35,243

 
(527
)
Mortgage-backed securities
 
119,745

 
(580
)
 
435,749

 
(11,399
)
 
555,494

 
(11,979
)
Total debt securities
 
$
160,820

 
$
(743
)
 
$
487,574

 
$
(12,067
)
 
$
648,394

 
$
(12,810
)
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 three months ended March 31, 2019 and 2018:
(dollars in thousands)
 
March 31,
2019
 
March 31,
2018
Gross gains on sales of securities
 
$
522

 
$
332

Gross losses on sales of securities
 
(464
)
 
(295
)
Net realized gains on sales of securities available for sale
 
$
58

 
$
37

 
 
 
 
 
Sales proceeds
 
$
64,995

 
$
36,685
Gain (Loss) on Investments
Total gain on securities reported on the consolidated statements of income and comprehensive income is comprised of the following for the three months ended March 31, 2019 and 2018:
(dollars in thousands)
 
March 31,
2019
 
March 31,
2018
Net realized gains on sales of securities available for sale
 
$
58

 
$
37

Unrealized holding gains on equity securities
 
8

 
—

Total gain on securities
 
$
66

 
$
37