NOTE 2 - INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Amortized cost and fair value of investment securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
	(dollars in thousands)
June 30, 2020:
Securities HTM:
Municipal securities	$	424,926	$	21,323	$	(2,231)	$	444,018
Other securities		1,050		—		—		1,050
	$	425,976	$	21,323	$	(2,231)	$	445,068
Securities AFS:
U.S. govt. sponsored agency securities	$	16,663	$	809	$	—	$	17,472
Residential mortgage-backed and related securities		138,044		7,659		(31)		145,672
Municipal securities		98,388		2,962		(84)		101,266
Asset-backed securities		39,712		414		(329)		39,797
Other securities		18,550		173		(23)		18,700
	$	311,357	$	12,017	$	(467)	$	322,907

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
	(dollars in thousands)
December 31, 2019:
Securities HTM:
Municipal securities	$	399,596	$	26,042	$	(143)	$	425,495
Other securities		1,050		—		—		1,050
	$	400,646	$	26,042	$	(143)	$	426,545
Securities AFS:
U.S. govt. sponsored agency securities	$	19,872	$	283	$	(77)	$	20,078
Residential mortgage-backed and related securities		118,724		2,045		(182)		120,587
Municipal securities		46,659		1,602		(4)		48,257
Asset-backed securities		16,958		—		(71)		16,887
Other securities		4,749		138		(1)		4,886
	$	206,962	$	4,068	$	(335)	$	210,695

Securities have been in a continuous unrealized loss position

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(dollars in thousands)
June 30, 2020:
Securities HTM:
Municipal securities	$	47,822	$	(2,231)	$	—	$	—	$	47,822	$	(2,231)
Other securities		1,050		—		—		—		1,050		—
	$	48,872	$	(2,231)	$	—	$	—	$	48,872	$	(2,231)
Securities AFS:
U.S. govt. sponsored agency securities	$	—	$	—	$	—	$	—	$	—	$	—
Residential mortgage-backed and related securities		19,127		(31)		—		—		19,127		(31)
Municipal securities		12,105		(84)		—		—		12,105		(84)
Asset-backed securities		16,611		(329)		—		—		16,611		(329)
Other securities		1,977		(23)		—		—		1,977		(23)
	$	49,820	$	(467)	$	—	$	—	$	49,820	$	(467)

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(dollars in thousands)
December 31, 2019:
Securities HTM:
Municipal securities	$	509	$	(1)	$	10,047	$	(142)	$	10,556	$	(143)
Other securities		550		—		—		—		550		—
	$	1,059	$	(1)	$	10,047	$	(142)	$	11,106	$	(143)
Securities AFS:
U.S. govt. sponsored agency securities	$	1,431	$	(21)	$	2,117	$	(56)	$	3,548	$	(77)
Residential mortgage-backed and related securities		2,263		(17)		17,862		(165)		20,125		(182)
Municipal securities		—		—		724		(4)		724		(4)
Asset-backed securities		16,886		(71)		—		—		16,886		(71)
Other securities		249		(1)		—		—		249		(1)
	$	20,829	$	(110)	$	20,703	$	(225)	$	41,532	$	(335)

Realized gain (loss) on investments

	Three and Six Months Ended
	June 30, 2020		June 30, 2019
		(dollars in thousands)
Proceeds from sales of securities	$	6,327	$	4,661
Gross gains from sales of securities		134		—
Gross losses from sales of securities		(69)		(52)

Investments classified by maturity date

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Due in one year or less	$	3,448	$	3,469
Due after one year through five years		35,903		36,526
Due after five years		386,625		405,073
	$	425,976	$	445,068
Securities AFS:
Due in one year or less	$	1,921	$	1,903
Due after one year through five years		14,976		15,411
Due after five years		116,704		120,124
		133,601		137,438
Residential mortgage-backed and related securities		138,044		145,672
Asset-backed securities		39,712		39,797
	$	311,357	$	322,907

Schedule of investment in callable securities

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Municipal securities	$	202,436	$	205,736
Securities AFS:
Municipal securities		84,011		86,534
Other securities		4,500		4,650
	$	88,511	$	91,184