Securities (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

The book values and approximate fair values of investment securities at June 30, 2020 and December 31, 2019 are summarized as follows:



($ in thousands)	June 30, 2020						December 31, 2019
	Amortized Cost		Fair Value	Unrealized			Amortized Cost	Fair Value	Unrealized
	Amortized Cost		Fair Value	Gains	(Losses)		Amortized Cost	Fair Value	Gains	(Losses)
Securities available for sale:
Government-sponsored enterprise securities	$	45,024	45,394	370	—		20,000	20,009	17	(8	)
Mortgage-backed securities	670,861		694,299	23,913	(475	)	758,491	767,285	9,463	(669	)
Corporate bonds	43,691		45,139	1,702	(254	)	33,711	34,651	1,025	(85	)
Total available for sale	$	759,576	784,832	25,985	(729	)	812,202	821,945	10,505	(762	)

Securities held to maturity:
Mortgage-backed securities	$	36,387	37,363	976	—		41,423	41,542	125	(6	)
State and local governments	58,537		58,955	418	—		26,509	26,791	285	(3	)
Total held to maturity	$	94,924	96,318	1,394	—		67,932	68,333	410	(9	)

Schedule of unrealized losses on investment securities

The following table presents information regarding securities with unrealized losses at June 30, 2020:



($ in thousands)	Securities in an Unrealized Loss Position for Less than 12 Months			Securities in an Unrealized Loss Position for More than 12 Months		Total
	Fair Value		Unrealized Losses	Fair Value	Unrealized Losses	Fair Value	Unrealized Losses
Government-sponsored enterprise securities	$	—	—	—	—	—	—
Mortgage-backed securities	67,514		276	6,772	199	74,286	475
Corporate bonds	13,866		134	880	120	14,746	254
State and local governments	—		—	—	—	—	—
Total temporarily impaired securities	$	81,380	410	7,652	319	89,032	729

The following table presents information regarding securities with unrealized losses at December 31, 2019:



($ in thousands)	Securities in an Unrealized Loss Position for Less than 12 Months			Securities in an Unrealized Loss Position for More than 12 Months		Total
	Fair Value		Unrealized Losses	Fair Value	Unrealized Losses	Fair Value	Unrealized Losses
Government-sponsored enterprise securities	$	4,992	8	—	—	4,992	8
Mortgage-backed securities	77,274		293	50,851	382	128,125	675
Corporate bonds	—		—	915	85	915	85
State and local governments	—		—	934	3	934	3
Total temporarily impaired securities	$	82,266	301	52,700	470	134,966	771

Schedule of contractual maturity of investment securities

The book values and approximate fair values of investment securities at June 30, 2020, by contractual maturity, are summarized in the table below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.



	Securities Available for Sale			Securities Held to Maturity
($ in thousands)	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Securities
Due within one year	$	—	—	1,501	1,520
Due after one year but within five years	28,691		30,393	4,856	4,982
Due after five years but within ten years	59,024		59,260	3,587	3,669
Due after ten years	1,000		880	48,593	48,784
Mortgage-backed securities	670,861		694,299	36,387	37,363
Total securities	$	759,576	784,832	94,924	96,318