XML 105 R29.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Investment Securities (Tables)
12 Months Ended
Dec. 31, 2019
Investment Securities [Abstract]  
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:

(dollars in thousands)
 
December 31, 2019
 
 
 
Amortized
Cost
   
Gross
Unrealized
Gains
   
Gross
Unrealized
Losses
   
Fair
Value
 
 
                       
U.S. government sponsored enterprises
 
$
104,895
     
36
     
419
     
104,512
 
State and political subdivisions
   
160
     
2
     
-
     
162
 
Mortgage backed securities and collateralized mortgage obligations - residential
   
388,537
     
2,406
     
1,426
     
389,517
 
Corporate bonds
   
30,164
     
367
     
95
     
30,436
 
Small Business Administration - guaranteed participation securities
   
48,991
     
-
     
480
     
48,511
 
Other
   
685
     
-
     
-
     
685
 
Total securities available for sale
 
$
573,432
     
2,811
     
2,420
     
573,823
 

(dollars in thousands)
 
December 31, 2018
 
 
 
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]  
Proceeds from Calls/Paydowns of Securities Available for Sale

The proceeds from calls/paydowns of securities available for sale during 2019, 2018 and 2017 are as follows:

(dollars in thousands)
 
Years ended December 31,
 
 
 
2019
   
2018
   
2017
 
Proceeds from calls/paydowns
   
192,003
     
78,230
     
124,624
 
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:

 
 
December 31, 2019
 
(dollars in thousands)
 
Amortized
Cost
   
Gross
Unrecognized
Gains
   
Gross
Unrecognized
Losses
   
Fair
Value
 
Mortgage backed securities and collateralized mortgage obligations - residential
 
$
18,618
     
1,062
     
-
     
19,680
 
Total held to maturity
 
$
18,618
     
1,062
     
-
     
19,680
 

 
 
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
 
Securities Held in Available For Sale and Held to Maturity Greater Than 10% of Shareholders Equity

The Company has the following balances of securities held in the available for sale and held to maturity portfolios as of December 31, 2019 that represent greater than 10% of shareholders’ equity:

(dollars in thousands)
 
Amortized
Cost
   
Fair
Value
 
Federal National Mortgage Association
 
$
240,324
     
239,846
 
Federal Home Loan Mortgage Corporation
   
96,989
     
97,177
 
Government National Mortgage Association
   
99,742
     
101,927
 
Federal Farm Credit Bureau
   
54,995
     
54,757
 
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 amortized cost and fair value of debt securities included in the available for sale portfolio as of December 31, 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 are shown separately:

(dollars in thousands)
 
Amortized
Cost
   
Fair
Value
 
Due in one year or less
 
$
10,032
     
10,081
 
Due in one year through five years
   
105,854
     
105,837
 
Due after five years through ten years
   
20,018
     
19,877
 
Mortgage backed securities and collateralized mortgage obligations - residential
   
388,537
     
389,517
 
Small Business Administration - guaranteed participation securities
   
48,991
     
48,511
 
 
 
$
573,432
     
573,823
 
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:

(dollars in thousands)
 
December 31, 2019
 
 
 
Less than
12 months
   
12 months
or more
   
Total
 
 
 
Fair
Value
   
Gross
Unreal.
Loss
   
Fair
Value
   
Gross
Unreal.
Loss
   
Fair
Value
   
Gross
Unreal.
Loss
 
U.S. government sponsored enterprises
 
$
19,820
     
180
     
74,656
     
239
     
94,476
     
419
 
Mortgage backed securities and collateralized mortgage obligations - residential
   
67,322
     
446
     
169,169
     
980
     
236,491
     
1,426
 
Corporate bonds
   
4,905
     
95
     
-
     
-
     
4,905
     
95
 
Small Business Administration - guaranteed participation securities
   
48,510
     
480
     
-
     
-
     
48,510
     
480
 
Total
 
$
140,557
     
1,201
     
243,825
     
1,219
     
384,382
     
2,420
 

(dollars in thousands)
 
December 31, 2018
 
 
 
Less than
12 months
   
12 months
or more
   
Total
 
 
 
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 December 31, 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 shown separately.

(dollars in thousands)
 
Amortized
Cost
   
Fair
Value
 
Mortgage backed securities and collateralized mortgage obligations - residential
 
$
18,618
     
19,680
 
 
 
$
18,618
     
19,680