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Securities
 3 Months Ended
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
SECURITIES SECURITIES
The following table presents the fair values of our securities portfolio at the dates presented:
(dollars in thousands)March 31, 2021December 31, 2020
Available-for-sale debt securities$813,883 $770,393 
Marketable equity securities3,416 3,300 
Total Securities$817,299 $773,693 
Available-for-Sale Debt Securities
The following tables present the amortized cost and fair value of available-for-sale debt securities as of the dates presented:
 March 31, 2021December 31, 2020
(dollars in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		Amortized
Cost		Gross Unrealized GainsGross
Unrealized
Losses		Fair
Value
U.S. Treasury securities$63,361 $259 $(352)$63,268 $9,980 $302 $— $10,282 
Obligations of U.S. government corporations and agencies78,715 3,313 — 82,028 78,755 4,149 — 82,904 
Collateralized mortgage obligations of U.S. government corporations and agencies213,394 5,716 (1,194)217,916 202,975 6,410 (89)209,296 
Residential mortgage-backed securities of U.S. government corporations and agencies64,496 632 (1,217)63,911 66,960 818 — 67,778 
Commercial mortgage-backed securities of U.S. government corporations and agencies266,292 11,085 (124)277,253 258,875 14,806 — 273,681 
Corporate obligations2,001 2 (1)2,002 2,021 5 (1)2,025 
Obligations of states and political subdivisions101,949 5,556 — 107,505 117,439 6,988 — 124,427 
Total Available-for-Sale Debt Securities (1)
$790,208 $26,563 $(2,888)$813,883 $737,005 $33,478 $(90)$770,393 
(1) Excludes interest receivable of $3.2 million at March 31, 2021and $3.4 million at December 31, 2020. Interest receivable is included in other assets in the consolidated balance sheets.
The following tables present the fair value and the age of gross unrealized losses on available-for-sale debt securities by investment category as of the dates presented:
March 31, 2021
Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)Number of SecuritiesFair ValueUnrealized
Losses		Number of SecuritiesFair ValueUnrealized
Losses		Number of SecuritiesFair ValueUnrealized
Losses
U.S. Treasury securities5$53,026 $(352)—$— $— 5$53,026 $(352)
Obligations of U.S. government corporations and agencies—— — —— — —— — 
Collateralized mortgage obligations of U.S. government corporations and agencies110,785 (124)—— — 110,785 (124)
Residential mortgage-backed securities of U.S. government corporations and agencies249,860 (1,217)—— — 249,860 (1,217)
Commercial mortgage-backed securities of U.S. government corporations and agencies568,629 (1,194)—— — 568,629 (1,194)
Corporate bonds1499 (1)—— — 1499 (1)
Obligations of states and political subdivisions—— — —— — —— — 
Total14$182,799 $(2,888)—$— $— 14$182,799 $(2,888)
December 31, 2020
Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)Number of SecuritiesFair ValueUnrealized
Losses		Number of SecuritiesFair ValueUnrealized
Losses		Number of SecuritiesFair ValueUnrealized
Losses
U.S. Treasury securities—$— $— —$— $— —$— $— 
Obligations of U.S. government corporations and agencies—— — —— — —— — 
Collateralized mortgage obligations of U.S. government corporations and agencies235,697 (89)—— — 235,697 (89)
Residential mortgage-backed securities of U.S. government corporations and agencies—— — —— — —— — 
Commercial mortgage-backed securities of U.S. government corporations and agencies—— — —— — —— — 
Corporate bonds1499 (1)—— — 1499 (1)
Obligations of states and political subdivisions—— — —— — —— — 
Total3$36,196 $(90)—$— $— 3$36,196 $(90)
We evaluate securities with unrealized losses quarterly to determine if the decline in fair value has resulted from credit losses or other factors. There was 14 debt securities in an unrealized loss position at March 31, 2021 and 3 debt securities in an unrealized loss position at December 31, 2020. We do not intend to sell and it is more likely than not that we will not be required to sell the securities in an unrealized loss position before recovery of their amortized cost. The unrealized losses on the debt securities were attributable to changes in interest rates and not related to the credit quality of the issuers. All debt securities were determined to be investment grade and paying principal and interest according to the contractual terms of the security. We did not record an ACL related to the securities portfolio at March 31, 2021 and December 31, 2020.
The following table presents net unrealized gains and losses, net of tax, on available-for-sale debt securities included in accumulated other comprehensive income/(loss), for the periods presented:
March 31, 2021December 31, 2020
(dollars in thousands)Gross Unrealized GainsGross Unrealized LossesNet Unrealized Gains/(Losses)Gross Unrealized GainsGross Unrealized LossesNet Unrealized Gains/(Losses)
Total unrealized gains/(losses) on available-for-sale debt securities$26,563 $(2,888)$23,675 $33,478 $(90)$33,388 
Income tax (expense) benefit(5,668)615 (5,053)(7,128)19 (7,109)
Net Unrealized Gains/(Losses), Net of Tax Included in Accumulated Other Comprehensive Income/(Loss)$20,895 $(2,273)$18,622 $26,350 $(71)$26,279 
The amortized cost and fair value of available-for-sale debt securities at March 31, 2021 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.
March 31, 2021
(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$40,399 $40,813 
Due after one year through five years92,940 97,643 
Due after five years through ten years89,580 91,236 
Due after ten years21,106 23,109 
Available-for-Sale Debt Securities With Maturities244,025 252,801 
Collateralized mortgage obligations of U.S. government corporations and agencies213,394 217,916 
Residential mortgage-backed securities of U.S. government corporations and agencies64,496 63,911 
Commercial mortgage-backed securities of U.S. government corporations and agencies266,292 277,253 
Corporate Securities2,001 2,002 
Total Available-for-Sale Debt Securities$790,208 $813,883 
Debt securities with carrying values of $320 million at March 31, 2021 and $308 million at December 31, 2020 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 March 31,
(dollars in thousands)20212020
Marketable Equity Securities
Net market gains/(losses) recognized$116 $(1,585)
Less: Net gains recognized for equity securities sold— — 
Unrealized (Losses)/Gains on Equity Securities Still Held $116 $(1,585)
Total unrealized gains and losses on marketable equity securities recognized during the current period are included in other noninterest income on the Consolidated Statements of Comprehensive Income.