Investment Securities (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2019
U.S. Agencies	$	2,867	$	175	$	—	$	3,042
State, county, and municipal securities	12,233		500		—		12,733
Mortgage-backed securities	395,814		4,965		700		400,079
Corporate debt securities	10,568		202		986		9,784
	$	421,482	$	5,842	$	1,686	$	425,638
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
June 30, 2019
State, county, and municipal securities	$	1,659	$	4	$	1	$	1,662
Mortgage-backed securities	31,560		281		140		31,701
	$	33,219	$	285	$	141	$	33,363
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
June 30, 2019
Due after one year through five years	$	3,300	$	2,333
Due after five years through ten years	13,236		13,622
Due after ten years	9,132		9,604
Mortgage-backed securities¹	395,814		400,079
	$	421,482	$	425,638
Held-to-maturity:
Due in one year or less	$	766	$	767
Due after one year through five years	893		895
Mortgage-backed securities¹	31,560		31,701
	$	33,219	$	33,363

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
June 30, 2019
Corporate debt securities	$	604	$	986	$	—	$	—	$	604	$	986
Mortgage-backed securities	—		—		101,623		700		101,623		700
	$	604	$	986	$	101,623	$	700	$	102,227	$	1,686
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
June 30, 2019
State, county, and municipal securities	$	—	$	—	$	470	$	1	$	470	$	1
Mortgage-backed securities	—		—		10,093		140		10,093		140
	$	—	$	—	$	10,563	$	141	$	10,563	$	141
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