Securities (Tables)

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

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
	March 31
	2020			2019
Net gains (losses) recognized during the period on equity securities	$	(1,801	)	$	907
Less: net gains recognized during the period on equity securities sold during the period	6			3
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date	$	(1,807	)	$	904

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

These available for sale securities are aggregated by major security type and length of time that individual securities have been in a continuous unrealized loss position:

	March 31, 2020
		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	1	86		(1		)	—		—			86		(1		)
Single issuer trust preferred securities issued by banks and insurers	1	436		(53		)	—		—			436		(53		)
Pooled trust preferred securities issued by banks and insurers	1	—		—			1,009		(434		)	1,009		(434		)
Total temporarily impaired available for sale securities	3	$	522	$	(54	)	$	1,009	$	(434	)	$	1,531	$	(488	)

Debt Securities, Held-to-maturity [Table Text Block]

The following table summarizes the amortized cost, fair value and allowance for credit losses of held to maturity securities and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income(loss) as of the dates indicated:

	March 31, 2020											December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for credit losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
U.S. government agency securities	$	—	$	—	$	—		$	—	$	—	$	12,874	$	123	$	—		$	12,997
U.S. Treasury securities	4,029		110		—			—		4,139		4,032		21		—			4,053
Agency mortgage-backed securities	463,632		18,864		(133		)	—		482,363		397,414		8,445		(57		)	405,802
Agency collateralized mortgage obligations	277,921		11,981		—			—		289,902		293,662		4,501		(849		)	297,314
Single issuer trust preferred securities issued by banks	1,500		—		(10		)	—		1,490		1,500		—		(10		)	1,490
Small business administration pooled securities	30,716		745		—			—		31,461		31,324		338		(55		)	31,607
Total held to maturity securities	$	777,798	$	31,700	$	(143	)	$	—	$	809,355	$	740,806	$	13,428	$	(971	)	$	753,263

Debt Securities, Held-to-maturity, Credit Quality Indicator [Table Text Block]

s of March 31, 2020, all held to maturity securities held by the Company were rated investment grade or higher.

Schedule of contractual maturities of securities [Table Text Block]

A schedule of the contractual maturities of available for sale and held to maturity securities as of March 31, 2020 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	$	10,351	$	12,472	$	13,941	$	—	$	—	$	22,474	$	24,292
Agency mortgage-backed securities	—		—		72,092		75,268		41,885		44,607		133,698		138,909		247,675		258,784
Agency collateralized mortgage obligations	—		—		—		—		—		—		83,183		87,210		83,183		87,210
State, county, and municipal securities	250		250		687		691		189		203		—		—		1,126		1,144
Single issuer trust preferred securities issued by banks	—		—		—		—		—		—		489		436		489		436
Pooled trust preferred securities issued by banks and insurers	—		—		—		—		—		—		1,443		1,009		1,443		1,009
Small business administration pooled securities	—		—		—		—		—		—		63,062		64,421		63,062		64,421
Total available for sale securities	$	250	$	250	$	82,781	$	86,310	$	54,546	$	58,751	$	281,875	$	291,985	$	419,452	$	437,296
Held to maturity securities
U.S. Treasury securities	$	—	$	—	$	4,029	$	4,139	$	—	$	—	$	—	$	—	$	4,029	$	4,139
Agency mortgage-backed securities	8,619		8,715		1,902		1,951		48,123		50,345		404,988		421,352		463,632		482,363
Agency collateralized mortgage obligations	—		—		—		—		—		—		277,921		289,902		277,921		289,902
Single issuer trust preferred securities issued by banks	—		—		—		—		1,500		1,490		—		—		1,500		1,490
Small business administration pooled securities	—		—		—		—		—		—		30,716		31,461		30,716		31,461
Total held to maturity securities	$	8,619	$	8,715	$	5,931	$	6,090	$	49,623	$	51,835	$	713,625	$	742,715	$	777,798	$	809,355
Total	$	8,869	$	8,965	$	88,712	$	92,400	$	104,169	$	110,586	$	995,500	$	1,034,700	$	1,197,250	$	1,246,651

Schedule of gross unrealized losses and fair value of investments [Table Text Block]

The following table shows the gross unrealized losses and fair value of the Company’s investments in an unrealized loss position, which the Company had not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2019:

	December 31, 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	12	34,009		(59		)	243		(2		)	34,252		(61		)
Agency collateralized mortgage obligations	17	48,476		(215		)	37,382		(653		)	85,858		(868		)
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	—		—			1,114		(374		)	1,114		(374		)
Small business administration pooled securities	1	7,349		(55		)	—		—			7,349		(55		)
Total temporarily impaired securities	32	$	89,834	$	(329	)	$	40,229	$	(1,039	)	$	130,063	$	(1,368	)

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]

The following table summarizes the amortized cost, allowance for credit losses, and fair value of available for sale securities and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income(loss) as of the dates indicated:

	March 31, 2020											December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for credit losses		Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
U.S. government agency securities	$	22,474	$	1,818	$	—		$	—	$	24,292	$	32,473	$	642	$	—		$	33,115
Agency mortgage-backed securities	247,675		11,110		(1		)	—		258,784		243,548		3,456		(4		)	247,000
Agency collateralized mortgage obligations	83,183		4,027		—			—		87,210		87,305		1,225		(19		)	88,511
State, county, and municipal securities	1,126		18		—			—		1,144		1,377		19		—			1,396
Single issuer trust preferred securities issued by banks	489		—		(53		)	—		436		488		5		—			493
Pooled trust preferred securities issued by banks and insurers	1,443		—		(434		)	—		1,009		1,488		—		(374		)	1,114
Small business administration pooled securities	63,062		1,359		—			—		64,421		54,024		771		—			54,795
Total available for sale securities	$	419,452	$	18,332	$	(488	)	$	—	$	437,296	$	420,703	$	6,118	$	(397	)	$	426,424