SECURITIES (Tables)

9 Months Ended

Sep. 30, 2019

SECURITIES

Summary of Available-For-Sale Securities

Information related to the fair value and amortized cost of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is provided in the tables below.

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gain		Losses		Value
September 30, 2019
U.S. Treasury securities	$	995	$	12	$	0	$	1,007
U.S. government sponsored agencies		2,303		5		0		2,308
Mortgage-backed securities: residential		291,427		5,217		(412)		296,232
Mortgage-backed securities: commercial		37,335		334		0		37,669
State and municipal securities		262,504		13,624		(114)		276,014
Total	$	594,564	$	19,192	$	(526)	$	613,230
December 31, 2018
U.S. Treasury securities	$	994	$	0	$	(7)	$	987
U.S. government sponsored agencies		4,435		0		(85)		4,350
Mortgage-backed securities: residential		329,516		1,392		(5,496)		325,412
Mortgage-backed securities: commercial		38,712		0		(571)		38,141
State and municipal securities		217,964		1,403		(2,708)		216,659
Total	$	591,621	$	2,795	$	(8,867)	$	585,549

Schedule of Available-For-Sale Securities By Maturity

Information regarding the fair value and amortized cost of available-for-sale debt securities by maturity as of September 30, 2019 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty.

	Amortized		Fair
(dollars in thousands)	Cost		Value
Due in one year or less	$	4,003	$	4,013
Due after one year through five years		18,138		18,529
Due after five years through ten years		28,136		29,341
Due after ten years		215,525		227,446
		265,802		279,329
Mortgage-backed securities		328,762		333,901
Total debt securities	$	594,564	$	613,230

Schedule of Sales of Securities Available For Sale

Securities proceeds, gross gains and gross losses are presented below.

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2019		2018		2019		2018
Sales of securities available-for-sale
Proceeds	$	12,725	$	0	$	38,544	$	12,322
Gross gains		13		0		151		21
Gross losses		(7)		0		(57)		(27)
Number of securities		6		0		31		22

Schedule of Available-For-Sale Securities Continuous Unrealized Loss Position

Information regarding securities with unrealized losses as of September 30, 2019 and December 31, 2018 is presented below. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.

	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
September 30, 2019
Mortgage-backed securities: residential	$	20,200	$	84	$	19,456	$	328	$	39,656	$	412
State and municipal securities		7,103		105		2,761		9		9,864		114
Total temporarily impaired	$	27,303	$	189	$	22,217	$	337	$	49,520	$	526
December 31, 2018
U.S. Treasury securities	$	0	$	0	$	987	$	7	$	987	$	7
U.S. government sponsored agencies		0		0		4,350		85		4,350		85
Mortgage-backed securities: residential		11,619		12		217,182		5,484		228,801		5,496
Mortgage-backed securities: commercial		0		0		38,141		571		38,141		571
State and municipal securities		26,229		124		85,982		2,584		112,211		2,708
Total temporarily impaired	$	37,848	$	136	$	346,642	$	8,731	$	384,490	$	8,867

Quantitative Disclosure of Available-For-Sale Securities

The total number of securities with unrealized losses as of September 30, 2019 and December 31, 2018 is presented below.

	Less than	12 months
	12 months	or more	Total
September 30, 2019
Mortgage-backed securities: residential	10	8	18
Mortgage-backed securities: commercial	0	0	0
State and municipal securities	5	2	7
Total temporarily impaired	15	10	25
December 31, 2018
U.S. Treasury securities	0	1	1
U.S. government sponsored agencies	0	2	2
Mortgage-backed securities: residential	5	84	89
Mortgage-backed securities: commercial	0	9	9
State and municipal securities	35	111	146
Total temporarily impaired	40	207	247