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INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 30, 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
September 30, 2019
 
 
 
 
 
 
 
 
U.S. government sponsored agencies
 
$
22,265

 
$
95

 
$
—

 
$
22,360

State, county and municipal securities
 
113,607

 
2,742

 
—

 
116,349

Corporate debt securities
 
51,740

 
1,211

 
(33
)
 
52,918

Mortgage-backed securities
 
1,283,846

 
18,776

 
(3,042
)
 
1,299,580

Total debt securities
 
$
1,471,458

 
$
22,824

 
$
(3,075
)
 
$
1,491,207

 
 
 
 
 
 
 
 
 
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 September 30, 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
 
$
16,799

 
$
16,858

Due from one year to five years
 
74,218

 
75,228

Due from five to ten years
 
67,248

 
69,498

Due after ten years
 
29,347

 
30,043

Mortgage-backed securities
 
1,283,846

 
1,299,580

 
 
$
1,471,458

 
$
1,491,207
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, 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
September 30, 2019
 
 

 
 

 
 

 
 

 
 

 
 

State, county and municipal securities
 
$
559

 
$
—

 
$
—

 
$
—

 
$
559

 
$
—

Corporate debt securities
 
1,470

 
(30
)
 
2,090

 
(3
)
 
3,560

 
(33
)
Mortgage-backed securities
 
345,451

 
(1,828
)
 
81,039

 
(1,214
)
 
426,490

 
(3,042
)
Total debt securities
 
$
347,480

 
$
(1,858
)
 
$
83,129

 
$
(1,217
)
 
$
430,609

 
$
(3,075
)
 
 
 
 
 
 
 
 
 
 
 
 
 
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 nine months ended September 30, 2019 and 2018:
(dollars in thousands)
 
September 30,
2019
 
September 30,
2018
Gross gains on sales of securities
 
$
522

 
$
390

Gross losses on sales of securities
 
(464
)
 
(301
)
Net realized gains on sales of securities available for sale
 
$
58

 
$
89

 
 
 
 
 
Sales proceeds
 
$
64,995

 
$
68,727
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 nine months ended September 30, 2019 and 2018:
(dollars in thousands)
 
September 30,
2019
 
September 30,
2018
Net realized gains on sales of securities available for sale
 
$
58

 
$
89

Unrealized holding gains (losses) on equity securities
 
19

 
(127
)
Net realized gains on sales of other investments
 
62

 
—

Total gain (loss) on securities
 
$
139

 
$
(38
)