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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Reconciliation of Available-for-Sale Securities
 
September 30, 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
$
145,976

 
$
846

 
$
(492
)
 
$
146,330

 
$
143,495

 
$
—

 
$
(2,568
)
 
$
140,927

Mortgage-backed securities, residential
471,178

 
4,171

 
(1,341
)
 
474,008

 
434,208

 
779

 
(8,843
)
 
426,144

Mortgage-backed securities, multifamily
50,164

 
818

 
(92
)
 
50,890

 
21,087

 
67

 
(204
)
 
20,950

Obligations of states and political subdivisions
43,338

 
726

 
(20
)
 
44,044

 
45,951

 
140

 
(586
)
 
45,505

Debt securities
5,000

 
133

 
—

 
5,133

 
5,000

 
92

 
—

 
5,092

 
$
715,656

 
$
6,694

 
$
(1,945
)
 
$
720,405

 
$
649,741

 
$
1,078

 
$
(12,201
)
 
$
638,618
Reconciliation of Held-to-Maturity Securities
 
September 30, 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
$
31,974

 
$
234

 
$
(18
)
 
$
32,190

 
$
33,025

 
$
—

 
$
(677
)
 
$
32,348

Mortgage-backed securities, residential
81,503

 
823

 
(148
)
 
82,178

 
75,859

 
169

 
(1,838
)
 
74,190

Mortgage-backed securities, multifamily
1,775

 
15

 
(5
)
 
1,785

 
1,853

 
—

 
(35
)
 
1,818

Obligations of states and political subdivisions
29,363

 
468

 
(30
)
 
29,801

 
37,909

 
113

 
(328
)
 
37,694

Debt securities
6,500

 
41

 
—

 
6,541

 
5,000

 
—

 
(118
)
 
4,882

 
$
151,115

 
$
1,581

 
$
(201
)
 
$
152,495

 
$
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 September 30, 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
 
 
 
 
 
 
 
 
Due in one year or less
$
29,607

 
$
29,610

 
$
7,751

 
$
7,751

Due after one year through five years
103,697

 
104,533

 
34,577

 
34,959

Due after five years through ten years
43,357

 
44,014

 
24,746

 
25,057

Due after ten years
17,653

 
17,350

 
763

 
765

 
194,314

 
195,507

 
67,837

 
68,532

Mortgage-backed securities
521,342

 
524,898

 
83,278

 
83,963

Total securities
$
715,656

 
$
720,405

 
$
151,115

 
$
152,495
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
September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
AVAILABLE FOR SALE
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and U.S. government agencies
$
5,180

 
$
31

 
$
56,134

 
$
461

 
12

 
$
61,314

 
$
492

Mortgage-backed securities, residential
84,842

 
284

 
106,968

 
1,057

 
73

 
191,810

 
1,341

Mortgage-backed securities, multifamily
8,236

 
80

 
4,916

 
12

 
3

 
13,152

 
92

Obligations of states and political subdivisions
2,850

 
3

 
3,172

 
17

 
11

 
6,022

 
20

 
$
101,108

 
$
398

 
$
171,190

 
$
1,547

 
99

 
$
272,298

 
$
1,945

HELD TO MATURITY
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
$
3,799

 
$
6

 
$
5,129

 
$
12

 
2

 
$
8,928

 
$
18

Mortgage-backed securities, residential
3,984

 
6

 
13,516

 
142

 
14

 
17,500

 
148

Mortgage-backed securities, multifamily
—

 
—

 
1,007

 
5

 
1

 
1,007

 
5

Obligations of states and political subdivisions
—

 
—

 
5,170

 
30

 
1

 
5,170

 
30

 
$
7,783

 
$
12

 
$
24,822

 
$
189

 
18

 
$
32,605

 
$
201

 
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