Investment Securities (Tables)

9 Months Ended

Sep. 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:

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

U.S. government sponsored enterprises	$	164,889		58		457		164,490
State and political subdivisions		166		3		-		169
Mortgage backed securities and collateralized mortgage obligations - residential		405,677		2,701		2,212		406,166
Corporate bonds		40,209		349		277		40,281
Small Business Administration - guaranteed participation securities		51,016		88		134		50,970
Other		685		-		2		683

Total Securities Available for Sale	$	662,642		3,199		3,082		662,759

	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:

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

Mortgage backed securities and collateralized mortgage obligations - residential	$	19,705		1,131		-		20,836

Total held to maturity	$	19,705		1,131		-		20,836

	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 nine months ended September 30, 2019 and 2018 are as follows:

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

Proceeds from sales	$	-		-
Proceeds from calls/paydowns		56,856		15,444
Proceeds from maturities		-		-
Gross realized gains		-		-
Gross realized losses		-		-

	Nine months ended September 30,
(dollars in thousands)	2019		2018

Proceeds from sales	$	-		-
Proceeds from calls/paydowns		101,306		64,925
Proceeds from maturities		10,052		45,000
Gross realized gains		-		-
Gross realized losses		-		-

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. 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

Due in one year or less	$	5,049	$	5,060
Due in one year through five years		150,845		150,454
Due after five years through ten years		50,055		50,109
Mortgage backed securities and collateralized mortgage obligations		405,677		406,166
Small Business Administration - guaranteed participation securities		51,016		50,970
	$	662,642	$	662,759

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, 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	$	39,915		85		74,522		372		114,437		457
Mortgage backed securities and collateralized mortgage obligations - residential		53,449		360		192,733		1,852		246,182		2,212
Corporate bonds		14,723		277		-		-		14,723		277
Small Business Administration - guaranteed participation securities		27,832		134		-		-		27,832		134
Other		598		2		-		-		598		2

Total	$	136,517		858		267,255		2,224		403,772		3,082

	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 September 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	$	19,705		20,836
	$	19,705		20,836

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, 2019

(dollars in thousands)

Less than

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

Total

	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