Investment Securities (Tables)

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Reconciliation of Available-for-Sale Securities

	March 31, 2019									December 31, 2018
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
AVAILABLE FOR SALE
U.S. Treasury and U.S. government agencies	$	141,088	$	94	$	(1,601	)	$	139,581	$	143,495	$	—	$	(2,568	)	$	140,927
Mortgage-backed securities, residential	442,358		1,473		(5,204		)	438,627		434,208		779		(8,843		)	426,144
Mortgage-backed securities, multifamily	30,956		135		(82		)	31,009		21,087		67		(204		)	20,950
Obligations of states and political subdivisions	44,850		362		(195		)	45,017		45,951		140		(586		)	45,505
Debt securities	5,000		4		—			5,004		5,000		92		—			5,092
	$	664,252	$	2,068	$	(7,082	)	$	659,238	$	649,741	$	1,078	$	(12,201	)	$	638,618

Reconciliation of Held-to-Maturity Securities

	March 31, 2019									December 31, 2018
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
HELD TO MATURITY
U.S. government agencies	$	32,461	$	—	$	(360	)	$	32,101	$	33,025	$	—	$	(677	)	$	32,348
Mortgage-backed securities, residential	82,070		246		(1,033		)	81,283		75,859		169		(1,838		)	74,190
Mortgage-backed securities, multifamily	1,827		—		(19		)	1,808		1,853		—		(35		)	1,818
Obligations of states and political subdivisions	36,450		274		(127		)	36,597		37,909		113		(328		)	37,694
Debt securities	6,500		—		(70		)	6,430		5,000		—		(118		)	4,882
	$	159,308	$	520	$	(1,609	)	$	158,219	$	153,646	$	282	$	(2,996	)	$	150,932

Summary of Investment Securities by Stated Maturity

The following table lists contractual maturities of investment securities classified as available for sale and held to maturity as of March 31, 2019. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Available for Sale				Held to Maturity
(in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
March 31, 2019
Due in one year or less	$	24,755	$	24,636	$	5,924	$	5,929
Due after one year through five years	116,056		115,089		42,423		42,361
Due after five years through ten years	32,550		32,602		24,379		24,144
Due after ten years	17,577		17,275		2,685		2,694
	190,938		189,602		75,411		75,128
Mortgage-backed securities	473,314		469,636		83,897		83,091
Total securities	$	664,252	$	659,238	$	159,308	$	158,219

Reconciliation of Available-for-Sale and Held-to-Maturity Securities in Continuous Unrealized Loss Position

The following tables indicates the length of time individual securities have been in a continuous unrealized loss position for the periods presented:

	Less Than 12 Months				12 Months or Longer				Total
(dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Number of Securities	Fair Value		Unrealized Losses
March 31, 2019
AVAILABLE FOR SALE
U.S. Treasury and U.S. government agencies	$	12,112	$	78	$	116,126	$	1,523	25	$	128,238	$	1,601
Mortgage-backed securities, residential	719		1		289,307		5,203		126	290,026		5,204
Mortgage-backed securities, multifamily	4,979		9		12,993		73		4	17,972		82
Obligations of states and political subdivisions	—		—		16,088		195		30	16,088		195
	$	17,810	$	88	$	434,514	$	6,994	185	$	452,324	$	7,082
HELD TO MATURITY
U.S. government agencies	$	—	$	—	$	32,101	$	360	6	$	32,101	$	360
Mortgage-backed securities, residential	9,012		27		47,210		1,006		31	56,222		1,033
Mortgage-backed securities, multifamily	—		—		1,808		19		2	1,808		19
Obligations of states and political subdivisions	—		—		8,222		127		7	8,222		127
Debt securities	3,930		70		—		—		1	3,930		70
	$	12,942	$	97	$	89,341	$	1,512	47	$	102,283	$	1,609

	Less Than 12 Months				12 Months or Longer				Total
(dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Number of Securities	Fair Value		Unrealized Losses
December 31, 2018
AVAILABLE FOR SALE
U.S. Treasury and U.S. government agencies	$	20,588	$	216	$	120,338	$	2,352	27	$	140,926	$	2,568
Mortgage-backed securities, residential	10,119		58		316,851		8,785		139	326,970		8,843
Mortgage-backed securities, multifamily	1,977		2		12,911		202		4	14,888		204
Obligations of states and political subdivisions	1,289		2		26,522		584		50	27,811		586
	$	33,973	$	278	$	476,622	$	11,923	220	$	510,595	$	12,201
HELD TO MATURITY
U.S. government agencies	$	—	$	—	$	32,348	$	677	6	$	32,348	$	677
Mortgage-backed securities, residential	8,325		59		53,761		1,779		36	62,086		1,838
Mortgage-backed securities, multifamily	—		—		1,818		35		2	1,818		35
Obligations of states and political subdivisions	1,764		8		15,580		320		27	17,344		328
Debt securities	3,882		118		—		—		1	3,882		118
	$	13,971	$	185	$	103,507	$	2,811	72	$	117,478	$	2,996