Investment Securities (Tables)

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Investment Securities

The amortized cost and fair value of available-for-sale investment securities are as follows (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
March 31, 2019
U.S. Agencies	$	2,868	$	109	$	—	$	2,977
State, county, and municipal securities	28,492		352		187		28,657
Mortgage-backed securities	385,321		2,757		2,820		385,258
Corporate debt securities	18,068		280		561		17,787
	$	434,749	$	3,498	$	3,568	$	434,679
December 31, 2018
U.S. Agencies	$	3,016	$	56	$	—	$	3,072
State, county, and municipal securities	44,639		214		765		44,088
Mortgage-backed securities	370,706		1,092		5,921		365,877
Corporate debt securities	25,567		433		1,283		24,717
	$	443,928	$	1,795	$	7,969	$	437,754

Schedule of Held-to-Maturity Securities

The amortized cost and fair value of held-to-maturity investment securities are as follows (in thousands):

	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
March 31, 2019
State, county, and municipal securities	$	1,662	$	2	$	5	$	1,659
Mortgage-backed securities	33,445		104		374		33,175
	$	35,107	$	106	$	379	$	34,834
December 31, 2018
State, county, and municipal securities	$	1,977	$	1	$	10	$	1,968
Mortgage-backed securities	35,782		—		776		$	35,006
	$	37,759	$	1	$	786	$	36,974

Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

The amortized cost and fair value of available-for-sale and held-to-maturity securities by contractual maturity are shown below (in thousands):  

	Amortized Cost		Fair Value
March 31, 2019
Due after one year through five years	$	6,389	$	5,888
Due after five years through ten years	24,097		24,505
Due after ten years	18,942		19,028
Mortgage-backed securities¹	385,321		385,258
	$	434,749	$	434,679
Held-to-maturity:
Due in one year or less	$	451	$	451
Due after one year through five years	1,211		1,208
Mortgage-backed securities¹	33,445		33,175
	$	35,107	$	34,834

¹Actual maturities may differ from contractual maturities as borrowers may prepay obligations without prepayment penalties.

Schedule of Investment Securities with Unrealized Losses

The following summarizes the fair value of securities available-for-sale in an unrealized loss position as of the dates indicated (in thousands):

	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized  Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
March 31, 2019
State, county, and municipal securities	$	—	$	—	$	11,647	$	187	$	11,647	$	187
Mortgage-backed securities	—		—		169,319		2,820		169,319		2,820
Corporate debt securities	2,029		561		—		—		2,029		561
	$	2,029	$	561	$	180,966	$	3,007	$	182,995	$	3,568
December 31, 2018
State, county, and municipal securities	$	2,573	$	11	$	19,539	$	754	$	22,112	$	765
Mortgage-backed securities	25,706		34		197,036		5,887		222,742		5,921
Corporate debt securities	3,307		1,283		—		—		3,307		1,283
	$	31,586	$	1,328	$	216,575	$	6,641	$	248,161	$	7,969

The following summarizes the fair value of securities held-to-maturity in an unrealized loss position as of the dates indicated (in thousands):

	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
March 31, 2019
State, county, and municipal securities	$	—	$	—	$	819	$	5	$	819	$	5
Mortgage-backed securities	—		—		18,778		374		18,778		374
	$	—	$	—	$	19,597	$	379	$	19,597	$	379
December 31, 2018
State, county, and municipal securities	$	—	$	—	$	1,703	$	10	$	1,703	$	10
Mortgage-backed securities	—		—		35,006		776		35,006		776
	$	—	$	—	$	36,709	$	786	$	36,709	$	786