Securities (Tables)

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30				June 30
	2020		2019		2020		2019
Net gains (losses) recognized during the period on equity securities	$	1,386	$	444	(415	)	1,351
Less: net gains recognized during the period on equity securities sold during the period	—		3		6		6
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date	$	1,386	$	441	(421	)	1,345

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:

	June 30, 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	386		(2		)	—		—			386		(2		)
Single issuer trust preferred securities issued by banks and insurers	1	445		(44		)	—		—			445		(44		)
Pooled trust preferred securities issued by banks and insurers	1	—		—			986		(452		)	986		(452		)
Total impaired available for sale securities	3	$	831	$	(46	)	$	986	$	(452	)	$	1,817	$	(498	)

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:

	June 30, 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	4,025		94		—			—		4,119		4,032		21		—			4,053
Agency mortgage-backed securities	431,901		21,135		—			—		453,036		397,414		8,445		(57		)	405,802
Agency collateralized mortgage obligations	264,675		10,360		—			—		275,035		293,662		4,501		(849		)	297,314
Single issuer trust preferred securities issued by banks	1,500		—		(2		)	—		1,498		1,500		—		(10		)	1,490
Small business administration pooled securities	28,925		1,441		—			—		30,366		31,324		338		(55		)	31,607
Total held to maturity securities	$	731,026	$	33,030	$	(2	)	$	—	$	764,054	$	740,806	$	13,428	$	(971	)	$	753,263

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

s of June 30, 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 June 30, 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	$	10,333	$	12,473	$	14,012	$	—	$	—	$	22,475	$	24,345
Agency mortgage-backed securities	—		—		71,734		74,553		40,590		43,562		124,895		130,690		237,219		248,805
Agency collateralized mortgage obligations	—		—		—		—		—		—		77,036		80,812		77,036		80,812
State, county, and municipal securities	250		250		686		690		190		207		—		—		1,126		1,147
Single issuer trust preferred securities issued by banks	—		—		—		—		—		—		489		445		489		445
Pooled trust preferred securities issued by banks and insurers	—		—		—		—		—		—		1,438		986		1,438		986
Small business administration pooled securities	—		—		—		—		—		—		60,558		63,977		60,558		63,977
Total available for sale securities	$	250	$	250	$	82,422	$	85,576	$	53,253	$	57,781	$	264,416	$	276,910	$	400,341	$	420,517
Held to maturity securities
U.S. Treasury securities	$	1,001	$	1,026	$	3,024	$	3,093	$	—	$	—	$	—	$	—	$	4,025	$	4,119
Agency mortgage-backed securities	8,565		8,635		1,678		1,729		47,890		50,340		373,768		392,332		431,901		453,036
Agency collateralized mortgage obligations	—		—		—		—		—		—		264,675		275,035		264,675		275,035
Single issuer trust preferred securities issued by banks	—		—		—		—		1,500		1,498		—		—		1,500		1,498
Small business administration pooled securities	—		—		—		—		—		—		28,925		30,366		28,925		30,366
Total held to maturity securities	$	9,566	$	9,661	$	4,702	$	4,822	$	49,390	$	51,838	$	667,368	$	697,733	$	731,026	$	764,054
Total	$	9,816	$	9,911	$	87,124	$	90,398	$	102,643	$	109,619	$	931,784	$	974,643	$	1,131,367	$	1,184,571

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:

	June 30, 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	$	22,475	$	1,870	$	—		$	—	$	24,345	$	32,473	$	642	$	—		$	33,115
Agency mortgage-backed securities	237,219		11,588		(2		)	—		248,805		243,548		3,456		(4		)	247,000
Agency collateralized mortgage obligations	77,036		3,776		—			—		80,812		87,305		1,225		(19		)	88,511
State, county, and municipal securities	1,126		21		—			—		1,147		1,377		19		—			1,396
Single issuer trust preferred securities issued by banks	489		—		(44		)	—		445		488		5		—			493
Pooled trust preferred securities issued by banks and insurers	1,438		—		(452		)	—		986		1,488		—		(374		)	1,114
Small business administration pooled securities	60,558		3,419		—			—		63,977		54,024		771		—			54,795
Total available for sale securities	$	400,341	$	20,674	$	(498	)	$	—	$	420,517	$	420,703	$	6,118	$	(397	)	$	426,424