Investment Securities (Tables)

6 Months Ended

Jun. 30, 2019

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:

	June 30, 2019
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	184,866		76		494		184,448
State and political subdivisions		166		4		-		170
Mortgage backed securities and collateralized mortgage obligations - residential		356,376		1,631		3,328		354,679
Corporate bonds		40,254		321		108		40,467
Small Business Administration - guaranteed participation securities		53,494		-		403		53,091
Other		685		-		-		685

Total Securities Available for Sale	$	635,841		2,032		4,333		633,540

	December 31, 2018
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	154,868		-		2,708		152,160
State and political subdivisions		168		5		-		173
Mortgage backed securities and collateralized mortgage obligations - residential		271,386		53		9,407		262,032
Corporate bonds		30,048		-		110		29,938
Small Business Administration - guaranteed participation securities		58,376		-		1,901		56,475
Other		685		-		-		685

Total securities available for sale	$	515,531		58		14,126		501,463

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

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:

	June 30, 2019
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	20,667		961		5		21,623

Total held to maturity	$	20,667		961		5		21,623

	December 31, 2018
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	22,501		577		154		22,924

Total held to maturity	$	22,501		577		154		22,924

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 six months ended June 30, 2019 and 2018 are as follows:

	Three months ended June 30,
(dollars in thousands)	2019		2018

Proceeds from sales	$	-		-
Proceeds from calls/paydowns		28,409		24,453
Proceeds from maturities		52		20,000

	Six months ended June 30,
(dollars in thousands)	2019		2018

Proceeds from sales	$	-		-
Proceeds from calls/paydowns		44,450		49,481
Proceeds from maturities		10,052		45,000

Securities Available for Sale [Member]

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

Debt Securities Based on Securities Contractual Maturity

The schedule of maturities of debt securities available for sale is presented below. Mortgage-backed securities are included based on weighted average maturities, adjusted for anticipated prepayments. All other securities are included based on contractual maturities. Actual maturities may differ from amounts presented because certain issuers have the right to call or prepay obligations with or without call or prepayment penalties.Index

(dollars in thousands)	Amortized Cost		Fair Value

Due in one year or less	$	5,080		5,093
Due in one year through five years		170,836		170,638
Due after five years through ten years		50,055		50,039
Mortgage backed securities and collateralized mortgage obligations		356,376		354,679
Small Business Administration - guaranteed participation securities		53,494		53,091
	$	635,841		633,540

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:

	June 30, 2019
	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	$	19,939		61		94,461		433		114,400		494
Mortgage backed securities and collateralized mortgage obligations - residential		4,025		24		243,286		3,304		247,311		3,328
Corporate bonds		14,892		108		-		-		14,892		108
Small Business Administration - guaranteed participation securities		-		-		53,091		403		53,091		403

Total	$	38,856		193		390,838		4,140	$	429,694		4,333

	December 31, 2018
	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	$	29,870		106		112,291		2,602		142,161		2,708
Mortgage backed securities and collateralized mortgage obligations - residential		1,102		11		259,729		9,396		260,831		9,407
Corporate bonds		14,943		98		9,995		12		24,938		110
Small Business Administration - guaranteed participation securities		-		-		56,475		1,901		56,475		1,901

Total	$	45,915		215		438,490		13,911		484,405		14,126

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 June 30, 2019, 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 Cost		Fair Value
Mortgage backed securities and collateralized mortgage obligations - residential	$	20,667		21,623
	$	20,667		21,623

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:

	June 30, 2019
(dollars in thousands)	Less than 12 months				12 months or more				Total
	Fair Value		Gross Unrec. Loss		Fair Value		Gross Unrec. Loss		Fair Value		Gross Unrec. Loss
Mortgage backed securities and collateralized mortgage obligations - residential	$	-		-		2,421		5		2,421		5

Total	$	-		-		2,421		5		2,421		5

	December 31, 2018
(dollars in thousands)	Less than 12 months				12 months or more				Total
	Fair Value		Gross Unrec. Loss		Fair Value		Gross Unrec. Loss		Fair Value		Gross Unrec. Loss
Mortgage backed securities and collateralized mortgage obligations - residential	$	10,958		154		-		-		10,958		154

Total	$	10,958		154		-		-		10,958		154