The following table presents the fair values of our securities portfolio at the dates presented:



(dollars in thousands)	September 30, 2018			December 31, 2017
Debt securities available-for-sale		$	677,221		$	693,147
Marketable equity securities		5,314			5,144
Total Securities		$	682,535		$	698,291

Debt Securities Available-for-Sale

The following tables present the amortized cost and fair value of debt securities available-for-sale as of September 30, 2018 and debt and equity securities available-for-sale as of December 31, 2017:



	September 30, 2018													December 31, 2017
(dollars in thousands)	Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses				Fair Value			Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses				Fair Value
U.S. Treasury securities		$	9,956		$	—		$	(400	)		$	9,556		$	19,943		$	—		$	(154	)		$	19,789
Obligations of U.S. government corporations and agencies		139,272			—			(2,288		)		136,984			162,045			341			(193		)		162,193
Collateralized mortgage obligations of U.S. government corporations and agencies		141,283			—			(3,623		)		137,660			109,916			93			(1,321		)		108,688
Residential mortgage-backed securities of U.S. government corporations and agencies		26,837			219			(606		)		26,450			32,388			679			(213		)		32,854
Commercial mortgage-backed securities of U.S. government corporations and agencies ⁽¹⁾		253,090			—			(8,494		)		244,596			244,018			247			(2,044		)		242,221
Obligations of states and political subdivisions		120,396			1,741			(162		)		121,975			123,159			4,285			(42		)		127,402
Total Debt Securities Available-for-Sale		690,834			1,960			(15,573		)		677,221			691,469			5,645			(3,967		)		693,147
Total equity securities⁽²⁾		—			—			—				—			3,815			1,330			(1		)		5,144
Total Securities		$	690,834		$	1,960		$	(15,573	)		$	677,221		$	695,284		$	6,975		$	(3,968	)		$	698,291

⁽¹⁾ Includes a $5.9 million security purchase that was pending settlement as of December 31, 2017.

⁽²⁾ ASU No. 2016-01 was adopted January 1, 2018, resulting in separate classification of our marketable equity securities previously included in available-for-sale securities.

The following tables present the fair value and the age of gross unrealized losses on debt securities available-for-sale by investment category as of the dates presented:



	September 30, 2018
	Less Than 12 Months								12 Months or More								Total
(dollars in thousands)	Number of Securities		Fair Value		Unrealized Losses				Number of Securities		Fair Value		Unrealized Losses				Number of Securities		Fair Value		Unrealized Losses
U.S. Treasury securities		—	$	—		$	—			1	$	9,556		$	(400	)		1	$	9,556		$	(400	)
Obligations of U.S. government corporations and agencies		17	135,988			(2,280		)		1	995			(8		)		18	136,983			(2,288		)
Collateralized mortgage obligations of U.S. government corporations and agencies		10	64,732			(1,365		)		8	48,308			(2,258		)		18	113,040			(3,623		)
Residential mortgage-backed securities of U.S. government corporations and agencies		4	9,361			(182		)		2	7,194			(424		)		6	16,555			(606		)
Commercial mortgage-backed securities of U.S. government corporations and agencies		17	148,398			(4,474		)		10	96,198			(4,020		)		27	244,596			(8,494		)
Obligations of states and political subdivisions		7	28,998			(162		)		—	—			—				7	28,998			(162		)
Total Temporarily Impaired Debt Securities		55	$	387,477		$	(8,463	)		22	$	162,251		$	(7,110	)		77	$	549,728		$	(15,573	)



	December 31, 2017
	Less Than 12 Months						12 Months or More						Total
(dollars in thousands)	Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses
U.S. Treasury securities	3	$	19,789	$	(154	)	—	$	—	$	—		3	$	19,789	$	(154	)
Obligations of U.S. government corporations and agencies	9	63,635		(144		)	1	10,017		(49		)	10	73,652		(193		)
Collateralized mortgage obligations of U.S. government corporations and agencies	7	47,465		(248		)	7	45,809		(1,073		)	14	93,274		(1,321		)
Residential mortgage-backed securities of U.S. government corporations and agencies	1	2,333		(10		)	2	8,638		(203		)	3	10,971		(213		)
Commercial mortgage-backed securities of U.S. government corporations and agencies	14	128,300		(775		)	5	48,746		(1,269		)	19	177,046		(2,044		)
Obligations of states and political subdivisions	2	10,330		(42		)	—	—		—			2	10,330		(42		)
Total Temporarily Impaired Debt Securities	36	$	271,852	$	(1,373	)	15	$	113,210	$	(2,594	)	51	$	385,062	$	(3,967	)

We do not believe any individual unrealized loss as of September 30, 2018 represents an other than temporary impairment, or OTTI. At September 30, 2018 there were 77 debt securities and at December 31, 2017 there were 51 debt securities in an unrealized loss position. The unrealized losses on debt securities were primarily attributable to changes in interest rates and not related to the credit quality of these securities. All debt securities were determined to be investment grade and paying principal and interest according to the contractual terms of the security. We do not intend to sell and it is more likely than not that we will not be required to sell any of the securities in an unrealized loss position before recovery of their amortized cost.

The following table presents net unrealized gains and losses, net of tax, on debt securities available-for-sale included in accumulated other comprehensive loss, for the periods presented:



	September 30, 2018									December 31, 2017
(dollars in thousands)	Gross Unrealized Gains			Gross Unrealized Losses			Net Unrealized (Losses)/Gains			Gross Unrealized Gains			Gross Unrealized Losses			Net Unrealized Gains/(Losses)
Total unrealized gains/(losses) on debt securities available-for-sale ⁽¹⁾	$	1,960		$	(15,573	)	$	(13,613	)	$	5,645		$	(3,967	)	$	1,678
Income tax (expense) benefit	(416		)	3,307			2,891			(1,982		)	1,393			(589		)
Net Unrealized (Losses)/Gains, Net of Tax Included in Accumulated Other Comprehensive Loss	$	1,544		$	(12,266	)	$	(10,722	)	$	3,663		$	(2,574	)	$	1,089
⁽¹⁾ Gross unrealized gains and losses of $862 at December 31, 2017 have been restated to reflect the reclassifications from OCI to retained earnings due to the adoption of ASU No. 2016-01

The amortized cost and fair value of debt securities available-for-sale at September 30, 2018 by contractual maturity are included in the table below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.



	September 30, 2018
(dollars in thousands)	Amortized Cost		Fair Value
Obligations of the U.S. Treasury, U.S. government corporations and agencies, and obligations of states and political subdivisions
Due in one year or less	$	20,871	$	20,878
Due after one year through five years	147,573		146,653
Due after five years through ten years	72,590		71,938
Due after ten years	28,590		29,046
Debt Securities Available-for-Sale With Maturities	269,624		268,515
Collateralized mortgage obligations of U.S. government corporations and agencies	141,283		137,660
Residential mortgage-backed securities of U.S. government corporations and agencies	26,837		26,450
Commercial mortgage-backed securities of U.S. government corporations and agencies	253,090		244,596
Total Debt Securities Available-for-Sale	$	690,834	$	677,221

At September 30, 2018 and December 31, 2017, debt securities with carrying values of $270 million and $249 million were pledged for various regulatory and legal requirements.

Marketable Equity Securities

The following table presents realized and unrealized net gains and losses for our marketable equity securities for the periods presented:



	Three Months Ended September 30,					Nine Months Ended September 30,
(dollars in thousands)	2018			2017		2018		2017
Marketable Equity Securities
Net market (losses)/gains recognized	$	(111	)	$	318	$	171	$	5,542
Less: Net gains recognized for equity securities sold	—			—		—		3,987
Unrealized (Losses)/Gains on Equity Securities Still Held	$	(111	)	$	318	$	171	$	1,555

Prior to January 1, 2018, net unrealized gains and losses, net of tax, on marketable equity securities were included in AOCI for the periods presented. Net unrealized gains and losses, net of tax, on marketable equity securities of $0.9 million were reclassified from AOCI to retained earnings at January 1, 2018. As of January 1, 2018, gains and losses on marketable equity securities are included in other noninterest income on the Consolidated Statements of Comprehensive Income.