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Securities (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and fair value of investments classified as available-for-sale
 
 
March 31, 2020
(Dollar amounts in thousands)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value
U.S. Government agencies
 
$
98,780

 
$
2,762

 
$
(38
)
 
$
101,504

Mortgage Backed Securities - residential
 
235,774

 
9,082

 
—

 
244,856

Mortgage Backed Securities - commercial
 
21,891

 
798

 
—

 
22,689

Collateralized mortgage obligations
 
276,125

 
8,461

 
(220
)
 
284,366

State and municipal obligations
 
259,907

 
12,410

 
(188
)
 
272,129

Municipal taxable
 
725

 
1

 
—

 
726

U.S. Treasury
 
2,501

 
37

 
—

 
2,538

Collateralized debt obligations
 
—

 
3,233

 
—

 
3,233

TOTAL
 
$
895,703

 
$
36,784

 
$
(446
)
 
$
932,041

 
 
December 31, 2019
(Dollar amounts in thousands)
 
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value
U.S. Government agencies
 
$
102,490

 
$
1,293

 
$
(150
)
 
$
103,633

Mortgage Backed Securities-residential
 
240,753

 
2,979

 
(350
)
 
243,382

Mortgage Backed Securities-commercial
 
22,036

 
73

 
(5
)
 
22,104

Collateralized mortgage obligations
 
280,797

 
1,735

 
(1,221
)
 
281,311

State and municipal obligations
 
253,277

 
11,265

 
(108
)
 
264,434

Municipal taxable
 
728

 
2

 
—

 
730

U.S. Treasury
 
7,494

 
10

 
—

 
7,504

Collateralized debt obligations
 
—

 
3,619

 
—

 
3,619

TOTAL
 
$
907,575

 
$
20,976

 
$
(1,834
)
 
$
926,717
Schedule of contractual maturities of debt securities
Contractual maturities of debt securities at March 31, 2020 were as follows. Securities not due at a single maturity or with no maturity date, primarily mortgage-backed and equity securities are shown separately.
 
 
Available-for-Sale
 
 
Amortized
 
Fair
(Dollar amounts in thousands)
 
Cost
 
Value
Due in one year or less
 
$
10,297

 
$
10,359

Due after one but within five years
 
57,759

 
59,055

Due after five but within ten years
 
43,921

 
45,180

Due after ten years
 
249,936

 
265,536

 
 
361,913

 
380,130

Mortgage-backed securities and collateralized mortgage obligations
 
533,790

 
551,911

TOTAL
 
$
895,703

 
$
932,041
Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position
The following tables show the securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at March 31, 2020 and December 31, 2019. 
 
 
March 31, 2020
 
 
Less Than 12 Months
 
More Than 12 Months
 
Total
 
 
 
 
Unrealized
 
 
 
Unrealized
 
 
 
Unrealized
(Dollar amounts in thousands)
 
Fair Value
 
Losses
 
Fair Value
 
Losses
 
Fair Value
 
Losses
U.S. Government agencies
 
$
3,756

 
$
(38
)
 
$
—

 
$
—

 
$
3,756

 
$
(38
)
Mortgage Backed Securities - Residential
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Collateralized mortgage obligations
 
9,178

 
(220
)
 
—

 
—

 
9,178

 
(220
)
State and municipal obligations
 
8,587

 
(131
)
 
464

 
(57
)
 
9,051

 
(188
)
U.S. Treasury
 
—

 
—

 
—

 
—

 
—

 
—

Total temporarily impaired securities
 
$
21,521

 
$
(389
)
 
$
464

 
$
(57
)
 
$
21,985

 
$
(446
)
 
 
 
December 31, 2019
 
 
Less Than 12 Months
 
More Than 12 Months
 
Total
 
 
 
 
Unrealized
 
 
 
Unrealized
 
 
 
Unrealized
(Dollar amounts in thousands)
 
Fair Value
 
Losses
 
Fair Value
 
Losses
 
Fair Value
 
Losses
US Government Agencies
 
$
29,183

 
$
(150
)
 
$
—

 
$
—

 
$
29,183

 
$
(150
)
Mortgage Backed Securities - Residential
 
$
55,665

 
$
(243
)
 
$
18,724

 
$
(107
)
 
$
74,389

 
$
(350
)
Mortgage Backed Securities - Commercial
 
4,391

 
(5
)
 
—

 
—

 
4,391

 
(5
)
Collateralized mortgage obligations
 
33,398

 
(314
)
 
61,781

 
(907
)
 
95,179

 
(1,221
)
State and municipal obligations
 
8,996

 
(61
)
 
461

 
(47
)
 
9,457

 
(108
)
Total temporarily impaired securities
 
$
131,633

 
$
(773
)
 
$
80,966

 
$
(1,061
)
 
$
212,599

 
$
(1,834
)
Rollforward of the credit losses recognized in earnings
The table below presents a rollforward of the credit losses recognized in earnings for the three month period ended March 31, 2020 and 2019:
 
 
Three Months Ended March 31,
(Dollar amounts in thousands)
 
2020
 
2019
Beginning balance
 
$
2,974

 
$
2,974

Increases to the amount related to the credit
 
 

 
 

Loss for which other-than-temporary was previously recognized
 
—

 
—

Reductions for increases in cash flows collected
 
—

 
—

Reductions for securities called during the period
 
—

 
—

Ending balance
 
$
2,974

 
$
2,974