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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Available-for-sale Securities
The amortized cost and fair value of investments, which were classified as available for sale, are as follows:
 
As of December 31, 2018
(dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
 
Fair Value
U.S. Treasury securities
$
200,026

 
$
—

 
$
(13
)
 
$
200,013

Obligations of the U.S. government and agencies
198,604

 
107

 
(2,856
)
 
195,855

Obligations of state and political subdivisions
11,372

 
3

 
(43
)
 
11,332

Mortgage-backed securities
294,076

 
554

 
(4,740
)
 
289,890

Collateralized mortgage obligations
40,150

 
141

 
(1,039
)
 
39,252

Other investment securities
1,100

 
—

 
—

 
1,100

Total
$
745,328

 
$
805

 
$
(8,691
)
 
$
737,442


 
As of December 31, 2017
(dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
 
Fair Value
U.S. Treasury securities
$
200,077

 
$
11

 
$
—

 
$
200,088

Obligations of the U.S. government and agencies
153,028

 
75

 
(2,059
)
 
151,044

Obligations of state and political subdivisions
21,352

 
11

 
(53
)
 
21,310

Mortgage-backed securities
275,958

 
887

 
(1,855
)
 
274,990

Collateralized mortgage obligations
37,596

 
14

 
(948
)
 
36,662

Other investment securities
4,813

 
318

 
(23
)
 
5,108

Total
$
692,824

 
$
1,316

 
$
(4,938
)
 
$
689,202
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
The following tables present the aggregate amount of gross unrealized losses as of December 31, 2018 and December 31, 2017 on available for sale investment securities classified according to the amount of time those securities have been in a continuous unrealized loss position:
 
As of December 31, 2018
 
Less than 12
Months
 
12 Months
or Longer
 
Total
(dollars in thousands)
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
U.S. Treasury securities
$
199,912

 
$
(13
)
 
$
—

 
$
—

 
$
199,912

 
$
(13
)
Obligations of the U.S. government and agencies
12,916

 
(62
)
 
140,506

 
(2,794
)
 
153,422

 
(2,856
)
Obligations of state and political subdivisions
668

 
—

 
3,989

 
(43
)
 
4,657

 
(43
)
Mortgage-backed securities
43,276

 
(352
)
 
195,697

 
(4,388
)
 
238,973

 
(4,740
)
Collateralized mortgage obligations
540

 
(1
)
 
27,077

 
(1,038
)
 
27,617

 
(1,039
)
Total
$
257,312

 
$
(428
)
 
$
367,269

 
$
(8,263
)
 
$
624,581

 
$
(8,691
)

 
As of December 31, 2017
 
Less than 12
Months
 
12 Months
or Longer
 
Total
(dollars in thousands)
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
 
Fair
Value
 
Unrealized Losses
Obligations of the U.S. government and agencies
$
114,120

 
$
(1,294
)
 
$
26,726

 
$
(765
)
 
$
140,846

 
$
(2,059
)
Obligations of state and political subdivisions
11,144

 
(29
)
 
2,709

 
(24
)
 
13,853

 
(53
)
Mortgage-backed securities
177,919

 
(1,293
)
 
31,787

 
(562
)
 
209,706

 
(1,855
)
Collateralized mortgage obligations
5,166

 
(47
)
 
26,686

 
(901
)
 
31,852

 
(948
)
Other investment securities
1,805

 
(23
)
 
—

 
—

 
1,805

 
(23
)
Total
$
310,154

 
$
(2,686
)
 
$
87,908

 
$
(2,252
)
 
$
398,062

 
$
(4,938
)
Investments Classified by Contractual Maturity Date
The amortized cost and fair value of available for sale investment and mortgage-related securities available for sale as of December 31, 2018 and December 31, 2017, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
 
December 31, 2018
 
December 31, 2017
(dollars in thousands)
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Investment securities:
 
 
 
 
 
 
 
Due in one year or less
$
209,129

 
$
209,099

 
$
211,019

 
$
211,019

Due after one year through five years
180,657

 
177,972

 
126,452

 
124,797

Due after five years through ten years
7,258

 
7,268

 
23,147

 
22,804

Due after ten years
14,058

 
13,961

 
15,439

 
15,421

Subtotal
411,102

 
408,300

 
376,057

 
374,041

Mortgage-related securities(1)
334,226

 
329,142

 
313,554

 
311,652

Mutual funds with no stated maturity
—

 
—

 
3,213

 
3,509

Total
$
745,328

 
$
737,442

 
$
692,824

 
$
689,202


  
(1) Expected maturities of mortgage-related securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
The amortized cost and fair value of held to maturity investment securities as of December 31, 2018 and December 31, 2017, by contractual maturity, are shown below:
 
December 31, 2018
 
December 31, 2017
(dollars in thousands)
Amortized
Cost
 
Fair Value
 
Amortized
Cost
 
Fair Value
Mortgage-backed securities(1)
$
8,684

 
$
8,438

 
$
7,932

 
$
7,851


 
(1) Expected maturities of mortgage-related securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Debt Securities, Held-to-maturity
The amortized cost and fair value of investment securities held to maturity as of December 31, 2018 and December 31, 2017 are as follows:
 
As of December 31, 2018
(dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
 
Fair Value
Mortgage-backed securities
$
8,684

 
$
—

 
$
(246
)
 
$
8,438


 
As of December 31, 2017
(dollars in thousands)
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
 
Fair Value
Mortgage-backed securities
$
7,932

 
$
5

 
$
(86
)
 
$
7,851
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value
The following tables present the aggregate amount of gross unrealized losses as of December 31, 2018 and December 31, 2017 on held to maturity securities classified according to the amount of time those securities have been in a continuous unrealized loss position:

As of December 31, 2018
 
Less than 12
Months
 
12 Months
or Longer
 
Total
(dollars in thousands)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Mortgage-backed securities
$
1,315

 
$
(4
)
 
$
7,123

 
$
(242
)
 
$
8,438

 
$
(246
)

 
As of December 31, 2017
 
Less than 12
Months
 
12 Months
or Longer
 
Total
(dollars in thousands)
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Mortgage-backed securities
$
2,756

 
$
(25
)
 
$
3,866

 
$
(61
)
 
$
6,622

 
$
(86
)