Securities (Tables)

9 Months Ended

Sep. 30, 2019

Gain (Loss) on Securities [Line Items]

Schedule of Equity securities gains and losses [Table Text Block]

The following table represents a summary of the gains and losses that relate to equity securities for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2019		2018		2019	2018
Net gains (losses) recognized during the period on equity securities	$	211	$	324	1,562	(107	)
Less: net gains recognized during the period on equity securities sold during the period	—		4		6	8
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date	$	211	$	320	1,556	(115	)

Reconciliation of fair value of securities

The following table presents a summary of the amortized cost, gross unrealized gains and losses, and fair value of securities available for sale and securities held to maturity for the periods indicated:

	September 30, 2019									December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
Available for sale securities
U.S. government agency securities	$	32,475	$	827	$	—		$	33,302	$	32,477	$	—	$	(439	)	$	32,038
Agency mortgage-backed securities	196,278		4,330		(5		)	200,603		222,491		1,020		(3,406		)	220,105
Agency collateralized mortgage obligations	92,574		1,964		—			94,538		138,149		197		(3,435		)	134,911
State, county, and municipal securities	1,713		23		—			1,736		1,719		16		—			1,735
Single issuer trust preferred securities issued by banks	717		3		—			720		717		—		(10		)	707
Pooled trust preferred securities issued by banks and insurers	1,493		—		(387		)	1,106		1,678		—		(349		)	1,329
Small business administration pooled securities	58,360		1,610		—			59,970		53,317		—		(1,390		)	51,927
Total available for sale securities	$	383,610	$	8,757	$	(392	)	$	391,975	$	450,548	$	1,233	$	(9,029	)	$	442,752
Held to maturity securities
U.S. government agency securities	$	12,853	$	146	$	—		$	12,999	$	—	$	—	$	—		$	—
U.S. Treasury securities	1,003		19		—			1,022		1,004		11		—			1,015
Agency mortgage-backed securities	418,350		8,900		(39		)	427,211		252,484		1,548		(3,104		)	250,928
Agency collateralized mortgage obligations	310,352		5,857		(687		)	315,522		332,775		869		(6,920		)	326,724
Single issuer trust preferred securities issued by banks	1,500		—		(10		)	1,490		1,500		—		(10		)	1,490
Small business administration pooled securities	33,212		707		—			33,919		23,727		105		(349		)	23,483
Total held to maturity securities	$	777,270	$	15,629	$	(736	)	$	792,163	$	611,490	$	2,533	$	(10,383	)	$	603,640
Total	$	1,160,880	$	24,386	$	(1,128	)	$	1,184,138	$	1,062,038	$	3,766	$	(19,412	)	$	1,046,392

Schedule of contractual maturities of securities

A schedule of the contractual maturities of securities available for sale and securities held to maturity as of September 30, 2019 is presented below:

	Due in one year or less				Due after one year to five years				Due after five to ten years				Due after ten years				Total
	Amortized Cost		Fair Value		Amortized Cost		Fair Value		Amortized Cost		Fair Value		Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(Dollars in thousands)
Available for sale securities
U.S. government agency securities	$	10,002	$	10,003	$	10,003	$	10,154	$	12,470	$	13,145	$	—	$	—	$	32,475	$	33,302
Agency mortgage-backed securities	—		—		71,277		72,138		56,084		58,039		68,917		70,426		196,278		200,603
Agency collateralized mortgage obligations	—		—		—		—		—		—		92,574		94,538		92,574		94,538
State, county, and municipal securities	—		—		1,021		1,024		692		712		—		—		1,713		1,736
Single issuer trust preferred securities issued by banks	—		—		—		—		—		—		717		720		717		720
Pooled trust preferred securities issued by banks and insurers	—		—		—		—		—		—		1,493		1,106		1,493		1,106
Small business administration pooled securities	—		—		—		—		—		—		58,360		59,970		58,360		59,970
Total available for sale securities	$	10,002	$	10,003	$	82,301	$	83,316	$	69,246	$	71,896	$	222,061	$	226,760	$	383,610	$	391,975
Held to maturity securities
U.S. government agency securities	$	—	$	—	$	12,853	$	12,999	$	—	$	—	$	—	$	—	$	12,853	$	12,999
U.S. Treasury securities	—		—		1,003		1,022		—		—		—		—		1,003		1,022
Agency mortgage-backed securities	—		—		11,128		11,153		37,012		37,523		370,210		378,535		418,350		427,211
Agency collateralized mortgage obligations	—		—		154		154		—		—		310,198		315,368		310,352		315,522
Single issuer trust preferred securities issued by banks	—		—		—		—		1,500		1,490		—		—		1,500		1,490
Small business administration pooled securities	—		—		—		—		—		—		33,212		33,919		33,212		33,919
Total held to maturity securities	$	—	$	—	$	25,138	$	25,328	$	38,512	$	39,013	$	713,620	$	727,822	$	777,270	$	792,163
Total	$	10,002	$	10,003	$	107,439	$	108,644	$	107,758	$	110,909	$	935,681	$	954,582	$	1,160,880	$	1,184,138

Schedule of gross unrealized losses and fair value of investments

The following tables show the gross unrealized losses and fair value of the Company’s investments in an unrealized loss position, which the Company has not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

	September 30, 2019
		Less than 12 months					12 months or longer					Total
	# of  holdings	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
Agency mortgage-backed securities	6	10,155		(39		)	1,054		(5		)	11,209		(44		)
Agency collateralized mortgage obligations	17	35,178		(99		)	39,827		(588		)	75,005		(687		)
Single issuer trust preferred securities issued by banks and insurers	1	—		—			1,490		(10		)	1,490		(10		)
Pooled trust preferred securities issued by banks and insurers	1	—		—			1,106		(387		)	1,106		(387		)
Total temporarily impaired securities	25	$	45,333	$	(138	)	$	43,477	$	(990	)	$	88,810	$	(1,128	)

	December 31, 2018
		Less than 12 months					12 months or longer					Total
	# of  holdings	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
U.S.government agency securities	3	$	9,960	$	(43	)	$	22,078	$	(396	)	$	32,038	$	(439	)
Agency mortgage-backed securities	144	104,616		(1,363		)	222,850		(5,147		)	327,466		(6,510		)
Agency collateralized mortgage obligations	48	57,871		(398		)	279,229		(9,957		)	337,100		(10,355		)
Single issuer trust preferred securities issued by banks and insurers	2	2,197		(20		)	—		—			2,197		(20		)
Pooled trust preferred securities issued by banks and insurers	1	—		—			1,329		(349		)	1,329		(349		)
Small business administration pooled securities	7	28,257		(662		)	40,621		(1,077		)	68,878		(1,739		)
Total temporarily impaired securities	205	$	202,901	$	(2,486	)	$	566,107	$	(16,926	)	$	769,008	$	(19,412	)