Investment Securities (Tables)

9 Months Ended

Sep. 30, 2018

Amortized Cost and Fair Value of Securities Available For Sale

The amortized cost and fair value of the securities available for sale are as follows:

	September 30, 2018
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	154,866		-		4,813		150,053
State and political subdivisions		174		6		-		180
Mortgage backed securities and collateralized mortgage obligations		282,286		47		13,240		269,093
Corporate bonds		30,090		-		113		29,977
Small Business Administration - guaranteed participation securities		61,431		-		3,537		57,894
Other		685		-		-		685

Total securities available for sale	$	529,532		53		21,703		507,882

	December 31, 2017
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	139,890		27		2,066		137,851
State and political subdivisions		515		10		-		525
Mortgage backed securities and collateralized mortgage obligations		330,424		84		4,825		325,683
Corporate bonds		40,270		-		108		40,162
Small Business Administration - guaranteed participation securities		68,921		-		1,862		67,059
Other		685		-		-		685

Total securities available for sale	$	580,705		121		8,861		571,965

Securities, Available-for-sale and Held-to-maturity [Abstract]

Proceeds From Sales and Calls of Securities Available For Sale, Gross Realized Gains and Gross Realized Losses

The proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three and nine months ended September 30, 2018 and 2017 are as follows:

	Three months ended September 30,
(dollars in thousands)	2018		2017

Proceeds from sales		-		-
Proceeds from calls		15,444		35,554
Gross realized gains		-		-
Gross realized losses		-		-

	Nine months ended September 30,
(dollars in thousands)	2018		2017

Proceeds from sales	$	-		-
Proceeds from calls		64,925		109,123
Gross realized gains		-		-
Gross realized losses		-		-

Amortized Cost and Fair Value of Held to Maturity Securities

The amortized cost and fair value of the held to maturity securities are as follows:

	September 30, 2018
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations	$	23,462		601		214		23,849

Total held to maturity	$	23,462		601		214		23,849

	December 31, 2017
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations	$	27,551		1,150		-		28,701

Total held to maturity	$	27,551		1,150		-		28,701

Securities Available for Sale [Member]

Securities, Available-for-sale and Held-to-maturity [Abstract]

Debt Securities Based on Securities Contractual Maturity

The following table distributes the debt securities included in the available for sale portfolio as of September 30, 2018, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately:

	Amortized		Fair
(dollars in thousands)	Cost		Value

Due in one year or less	$	10,687		10,649
Due in one year through five years		170,059		165,213
Due after five years through ten years		5,069		5,033
Mortgage backed securities and collateralized mortgage obligations		282,286		269,093
Small Business Administration - guaranteed participation securities		61,431		57,894
	$	529,532		507,882

Gross Unrealized Losses on Investment Securities and Related Fair Values in Unrealized Loss Position

Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows:

	September 30, 2018
	Less than 12 months				12 months or more				Total
			Gross				Gross				Gross
	Fair		Unreal.		Fair		Unreal.		Fair		Unreal.
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss

U.S. government sponsored enterprises	$	58,593		1,381		91,460		3,432		150,053		4,813
Mortgage backed securities and collateralized mortgage obligations - residental		8,061		266		259,715		12,974		267,776		13,240
Corporate bonds		14,986		75		9,992		38		24,978		113
Small Business Administration - guaranteed participation securities		-		-		57,894		3,537		57,894		3,537

Total	$	81,640		1,722		419,061		19,981		500,701		21,703

	December 31, 2017
	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss

U.S. government sponsored enterprises	$	29,734		266		98,090		1,800		127,824		2,066
Mortgage backed securities and collateralized mortgage obligations - residental		48,080		371		266,394		4,344		314,474		4,715
Corporate bonds		-		-		40,162		108		40,162		108
Small Business Administration - guaranteed participation securities		-		-		67,059		1,862		67,059		1,862
Mortgage backed securities and collateralized mortgage obligations - commercial		-		-		9,700		110		9,700		110

Total	$	77,814		637		481,405		8,224		559,219		8,861

Held to Maturity Securities [Member]

Securities, Available-for-sale and Held-to-maturity [Abstract]

Debt Securities Based on Securities Contractual Maturity

The following table distributes the debt securities included in the held to maturity portfolio as of September 30, 2018, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately:

(dollars in thousands)	Amortized		Fair
	Cost		Value
Mortgage backed securities and collateralized mortgage obligations	$	23,462		23,849

Total held to maturity	$	23,462		23,849

Gross Unrealized Losses on Investment Securities and Related Fair Values in Unrealized Loss Position

Gross unrecognized losses on securities held to maturity and the related fair values aggregated by the length of time that individual securities have been in an unrecognized loss position, were as follows:

	September 30, 2018
	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Gross Unrec. Loss		Fair Value		Gross Unrec. Loss		Fair Value		Gross Unrec. Loss

Mortgage backed securities and collateralized mortgage obligations	$	12,599		214		-		-		12,599		214

Total	$	12,599		214		-		-		12,599		214