SECURITIES (Tables)

9 Months Ended

Sep. 30, 2021

Amortized cost and fair values of investment securities at September 30, 2021 and December 31, 2020 are as follows:


	September 30, 2021
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available-for-Sale ("AFS") Securities
Asset-backed securities issued by GSEs and U.S. Agencies
Residential Mortgage-Backed Securities ("MBS")	$	103,173	$	1,302	$	1,791	$	102,684
Residential Collateralized Mortgage Obligations ("CMOs")	205,234		1,122		1,468		204,888
U.S. Agency	11,773		35		8		11,800
Asset-backed securities ("ABSs") issued by Others:
Residential CMOs	241		7		5		243
Student Loan Trust ABSs	57,244		623		155		57,712

Municipal bonds	62,571		1,020		718		62,873

U.S. government obligations	16,440		29		5		16,464
Total AFS Securities	$	456,676	$	4,138	$	4,150	$	456,664

Equity securities carried at fair value through income
CRA investment fund	$	4,805	$	—	$	—	$	4,805
Non-marketable equity securities
Other equity securities	$	207	$	—	$	—	$	207

Total Investment Securities	$	461,688	$	4,138	$	4,150	$	461,676


	December 31, 2020
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available-for-Sale ("AFS") Securities
Asset-backed securities issued by GSEs and U.S. Agencies
Residential MBS	$	33,248	$	1,735	$	30	$	34,953
Residential CMOs	125,564		2,180		297		127,447

ABSs issued by Others:
Residential CMOs	292		5		9		288
Student Loan Trust ABSs	37,141		386		88		37,439

Municipal bonds	42,268		2,210		—		44,478

U.S. government obligations	1,500		—		—		1,500
Total AFS Securities	$	240,013	$	6,516	$	424	$	246,105

Equity securities carried at fair value through income
CRA investment fund	$	4,855	$	—	$	—	$	4,855
Non-marketable equity securities
Other equity securities	$	207	$	—	$	—	$	207

Total Investment Securities	$	245,075	$	6,516	$	424	$	251,167

Debt Securities, Available-for-sale

The amortized cost and estimated fair value of debt securities at September 30, 2021, and December 31, 2020 by contractual maturity, are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call premiums or prepayment penalties.


	September 30, 2021				December 31, 2020
(dollars in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Within one year	$	32,679	$	32,678	$	36,165	$	37,084
Over one year through five years	109,422		109,419		60,669		62,209
Over five years through ten years	167,788		167,784		67,158		68,862
After ten years	146,787		146,783		76,021		77,950
Total AFS securities	$	456,676	$	456,664	$	240,013	$	246,105

Available-For-Sale Securities

Marketable Securities [Line Items]

Schedule of Unrealized Loss and Estimated Fair Value on Investments

AFS Securities

Gross unrealized losses and estimated fair value by length of time that individual AFS securities have been in a continuous unrealized loss position at September 30, 2021, and December 31, 2020 were as follows:


September 30, 2021	Less Than 12 Months				More Than 12 Months				Total
(dollars in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Losses
Asset-backed securities issued by GSEs and U.S. Agencies	$	188,243	$	2,803	$	12,640	$	464	$	200,883	$	3,267


Residential CMOs	—		—		68		5		68		5
Student Loan Trust ABSs	13,339		86		7,109		69		20,448		155
Municipal bonds	28,783		707		1,011		11		29,794		718
U.S. government obligations	3,997		5		1,500		—		5,497		5
	$	234,362	$	3,601	$	22,328	$	549	$	256,690	$	4,150


December 31, 2020	Less Than 12 Months				More Than 12 Months				Total
(dollars in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Losses
Asset-backed securities issued by GSEs and U.S. Agencies	$	32,281	$	320	$	670	$	7	$	32,951	$	327


Residential CMOs	—		—		87		9		87		9
Student Loan Trust ABSs	12,511		88		—		—		12,511		88


	$	44,792	$	408	$	757	$	16	$	45,549	$	424