XML 36 R22.htm IDEA: XBRL DOCUMENT v3.21.2
Securities (Tables)
 6 Months Ended
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of Marketable Securities
The following table presents the fair values of our securities portfolio at the dates presented:
(dollars in thousands)June 30, 2021December 31, 2020
Available-for-sale debt securities$839,279 $770,393 
Marketable equity securities1,096 3,300 
Total Securities$840,375 $773,693 
Schedule of Debt Securities, Available-for-Sale
The following tables present the amortized cost and fair value of available-for-sale debt securities as of the dates presented:
 June 30, 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$74,253 $551 $— $74,804 $9,980 $302 $— $10,282 
Obligations of U.S. government corporations and agencies78,674 2,950 — 81,624 78,755 4,149 — 82,904 
Collateralized mortgage obligations of U.S. government corporations and agencies197,458 4,762 (870)201,350 202,975 6,410 (89)209,296 
Residential mortgage-backed securities of U.S. government corporations and agencies63,896 548 (585)63,859 66,960 818 — 67,778 
Commercial mortgage-backed securities of U.S. government corporations and agencies314,228 11,114 (39)325,303 258,875 14,806 — 273,681 
Corporate obligations500 — (1)499 2,021 5 (1)2,025 
Obligations of states and political subdivisions86,271 5,569 — 91,840 117,439 6,988 — 124,427 
Total Available-for-Sale Debt Securities (1)
$815,280 $25,494 $(1,495)$839,279 $737,005 $33,478 $(90)$770,393 
(1) Excludes interest receivable of $3.2 million at June 30, 2021 and $3.1 million at December 31, 2020. Interest receivable is included in other assets in the consolidated balance sheets.
Schedule of Temporally Impaired Debt Securities
The following tables present the fair value and the age of gross unrealized losses on available-for-sale debt securities by investment category as of the dates presented:
June 30, 2021
Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)Number of SecuritiesFair ValueUnrealized
Losses		Number of SecuritiesFair ValueUnrealized
Losses		Number of SecuritiesFair ValueUnrealized
Losses
U.S. Treasury securities—$— $— —$— $— —$— $— 
Obligations of U.S. government corporations and agencies—— — —— — —— — 
Collateralized mortgage obligations of U.S. government corporations and agencies567,822 (870)—— — 567,822 (870)
Residential mortgage-backed securities of U.S. government corporations and agencies249,159 (585)—— — 249,159 (585)
Commercial mortgage-backed securities of U.S. government corporations and agencies351,452 (39)—— — 351,452 (39)
Corporate bonds1500 (1)—— — 1500 (1)
Obligations of states and political subdivisions—— — —— — —— — 
Total11$168,933 $(1,495)—$— $— 11$168,933 $(1,495)
December 31, 2020
Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)Number of SecuritiesFair ValueUnrealized
Losses		Number of SecuritiesFair ValueUnrealized
Losses		Number of SecuritiesFair ValueUnrealized
Losses
U.S. Treasury securities—$— $— —$— $— —$— $— 
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)
Schedule of Unrealized Gains and Losses, Net of Tax, of Debt Securities Available-for-Sale
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:
June 30, 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$25,494 $(1,495)$23,999 $33,478 $(90)$33,388 
Income tax (expense) benefit(5,424)318 (5,107)(7,128)19 (7,109)
Net Unrealized Gains/(Losses), Net of Tax Included in Accumulated Other Comprehensive Income/(Loss)$20,070 $(1,177)$18,892 $26,350 $(71)$26,279 
Schedule of Contractual Maturity of Debt Securities Available-for-Sale Securities
The amortized cost and fair value of available-for-sale debt securities at June 30, 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.
June 30, 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$35,066 $35,402 
Due after one year through five years87,794 91,953 
Due after five years through ten years95,316 97,577 
Due after ten years21,022 23,336 
Available-for-Sale Debt Securities With Maturities239,198 248,268 
Collateralized mortgage obligations of U.S. government corporations and agencies197,458 201,350 
Residential mortgage-backed securities of U.S. government corporations and agencies63,896 63,859 
Commercial mortgage-backed securities of U.S. government corporations and agencies314,228 325,303 
Corporate Securities500 499 
Total Available-for-Sale Debt Securities$815,280 $839,279 
Schedule of Unrealized Gains and Losses on 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 June 30,Six Months Ended June 30,
(dollars in thousands)2021202020212020
Marketable Equity Securities
Net market gains/(losses) recognized$28 $448 $143 $(1,137)
Less: Net gains recognized for equity securities sold3 142 29 142 
Unrealized Gains/(Losses) on Equity Securities Still Held $25 $306 $114 $(1,279)