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Securities (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and fair value of securities available for sale
The amortized cost, fair value and allowance for credit losses of securities available for sale were as follows as of the dates presented:
 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for Credit LossesFair
Value
September 30, 2020
U.S. Treasury securities$7,067 $45 $— $— $7,112 
Obligations of other U.S. Government agencies and corporations1,505 10 — — 1,515 
Obligations of states and political subdivisions267,067 11,224 (651)— 277,640 
Residential mortgage backed securities:
Government agency mortgage backed securities649,383 23,601 (64)— 672,920 
Government agency collateralized mortgage obligations133,993 2,181 (29)— 136,145 
Commercial mortgage backed securities:
Government agency mortgage backed securities29,198 1,316 (1)— 30,513 
Government agency collateralized mortgage obligations90,523 3,306 (77)— 93,752 
Trust preferred securities12,042 — (3,550)— 8,492 
Other debt securities62,495 2,935 (131)— 65,299 
$1,253,273 $44,618 $(4,503)$— $1,293,388 
 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2019
U.S. Treasury securities$498 $1 $— $499 
Obligations of other U.S. Government agencies and corporations2,518 16 (3)2,531 
Obligations of states and political subdivisions218,362 5,134 (365)223,131 
Residential mortgage backed securities:
Government agency mortgage backed securities708,970 8,951 (1,816)716,105 
Government agency collateralized mortgage obligations172,178 1,322 (262)173,238 
Commercial mortgage backed securities:
Government agency mortgage backed securities30,372 659 (24)31,007 
Government agency collateralized mortgage obligations76,456 1,404 (109)77,751 
Trust preferred securities12,153 — (2,167)9,986 
Other debt securities55,364 1,133 (132)56,365 
$1,276,871 $18,620 $(4,878)$1,290,613 
Schedule of realized gain (loss)
Securities sold were as follows for the periods presented:
There were no securities sold during the three months ended September 30, 2020.
Carrying ValueNet ProceedsGain/(Loss)
Nine months ended September 30, 2020
Obligations of states and political subdivisions$2,696 $2,561 $(135)
Residential mortgage backed securities:
Government agency mortgage backed securities6,046 6,212 166 
$8,742 $8,773 $31 

Carrying ValueNet ProceedsGain/(Loss)
Three months ended September 30, 2019
Obligations of states and political subdivisions$1,112 $1,111 $(1)
Residential mortgage backed securities:
Government agency mortgage backed securities70,926 70,322 (604)
Government agency collateralized mortgage obligations122,404 120,606 (1,798)
Commercial mortgage backed securities:
Government agency mortgage backed securities4,838 4,720 (118)
Other debt securities252 257 5 
Other equity securities— 2,859 2,859 
$199,532 $199,875 $343 
Nine months ended September 30, 2019
Obligations of states and political subdivisions$11,799 $11,813 $14 
Residential mortgage backed securities:
Government agency mortgage backed securities72,556 71,944 (612)
Government agency collateralized mortgage obligations122,692 120,892 (1,800)
Commercial mortgage backed securities:
Government agency mortgage backed securities4,838 4,720 (118)
Other debt securities252 257 5 
Other equity securities— 2,859 2,859 
$212,137 $212,485 $348 

The sale of other equity securities represents the Company's sale of all of its shares of Visa Class B common stock during the third quarter of 2019.
Gross realized gains and losses on sales of securities available for sale for the three and nine months ended September 30, 2020 and 2019 were as follows:
Three Months EndedNine Months Ended
 September 30,September 30,
 2020201920202019
Gross gains on sales of securities available for sale$— $2,933 $166 $2,979 
Gross losses on sales of securities available for sale— (2,590)(135)(2,631)
Gains on sales of securities available for sale, net$— $343 $31 $348 
Amortized cost and fair value of securities by contractual maturity
The amortized cost and fair value of securities at September 30, 2020 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties.
 
 Available for Sale
 Amortized
Cost		Fair
Value
Due within one year$9,258 $9,316 
Due after one year through five years38,526 40,210 
Due after five years through ten years71,434 75,283 
Due after ten years194,270 196,052 
Residential mortgage backed securities:
Government agency mortgage backed securities649,383 672,920 
Government agency collateralized mortgage obligations133,993 136,145 
Commercial mortgage backed securities:
Government agency mortgage backed securities29,198 30,513 
Government agency collateralized mortgage obligations90,523 93,752 
Other debt securities36,688 39,197 
$1,253,273 $1,293,388 
Gross unrealized losses and fair value by investment category
The following table presents the age of gross unrealized losses and fair value by investment category for which an allowance for credit losses has not been recorded as of the dates presented:
 
 Less than 12 Months12 Months or MoreTotal
 #Fair
Value		Unrealized
Losses		#Fair
Value		Unrealized
Losses		#Fair
Value		Unrealized
Losses
Available for Sale:
September 30, 2020
Obligations of states and political subdivisions28$45,111 $(651)0$— $— 28$45,111 $(651)
Residential mortgage backed securities:
Government agency mortgage backed securities321,244 (64)0— — 321,244 (64)
Government agency collateralized mortgage obligations618,206 (29)0— — 618,206 (29)
Commercial mortgage backed securities:
Government agency mortgage backed securities11,546 (1)1465 — 22,011 (1)
Government agency collateralized mortgage obligations312,846 (77)0— — 312,846 (77)
Trust preferred securities0— — 28,492 (3,550)28,492 (3,550)
Other debt securities1214,833 (128)1575 (3)1315,408 (131)
Total53$113,786 $(950)4$9,532 $(3,553)57$123,318 $(4,503)
December 31, 2019
Obligations of other U.S. Government agencies and corporations0$— $— 1$1,008 $(3)1$1,008 $(3)
Obligations of states and political subdivisions2633,902 (365)0— — 2633,902 (365)
Residential mortgage backed securities:
Government agency mortgage backed securities37233,179 (1,504)1620,775 (312)53253,954 (1,816)
Government agency collateralized mortgage obligations1145,319 (262)0— — 1145,319 (262)
Commercial mortgage backed securities:
Government agency mortgage backed securities14,976 (23)21,190 (1)36,166 (24)
Government agency collateralized mortgage obligations14,910 (109)0— — 14,910 (109)
Trust preferred securities0— — 29,986 (2,167)29,986 (2,167)
Other debt securities38,737 (131)1741 (1)49,478 (132)
Total79$331,023 $(2,394)22$33,700 $(2,484)101$364,723 $(4,878)