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Investment Securities (Tables)
9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Held-to-Maturity Securities and Available-for-Sale Securities by Contractual Maturities
The following table shows the amortized cost and the estimated fair value of the held-to-maturity securities and available-for-sale securities at September 30, 2019 and December 31, 2018, by contractual maturity within each type:
 At September 30, 2019At December 31, 2018
(Dollars in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Held-to-Maturity
U.S. government corporations and agencies:
After 1 year to 5 years$6,997  $60  $—  $7,057  $6,996  $—  $(104) $6,892  
6,997  60  —  7,057  6,996  —  (104) 6,892  
Residential mortgage-backed securities:
After 5 years to 10 years9,720  116  —  9,836  11,573  —  (135) 11,438  
Over 10 years167,128  2,770  (147) 169,751  124,065  287  (1,107) 123,245  
176,848  2,886  (147) 179,587  135,638  287  (1,242) 134,683  
Total$183,845  $2,946  $(147) $186,644  $142,634  $287  $(1,346) $141,575  
Securities Available-for-Sale
U.S. government corporations and agencies:
Within 1 year$301  $—  $(2) $299  $15,108  $—  $(90) $15,018  
After 1 year to 5 years—  —  —  —  303  —  (6) 297  
301  —  (2) 299  15,411  —  (96) 15,315  
State and political subdivisions:
Within 1 year350   —  351  5,900   (6) 5,898  
After 1 year to 5 years5,809  42  —  5,851  15,459  36  (56) 15,439  
After 5 years to 10 years33,809  375  —  34,184  43,923  318  (163) 44,078  
39,968  418  —  40,386  65,282  358  (225) 65,415  
Residential mortgage-backed securities:
Within 1 year48   —  50  —  —  —  —  
After 1 year to 5 years1,082  14  (2) 1,094  5,799   (70) 5,732  
After 5 years to 10 years36,892  78  (130) 36,840  49,904   (1,381) 48,529  
Over 10 years87,317  404  (468) 87,253  100,873  26  (3,398) 97,501  
125,339  498  (600) 125,237  156,576  35  (4,849) 151,762  
Collateralized mortgage obligations:
After 5 years to 10 years1,403  —  (23) 1,380  1,677  —  (78) 1,599  
Over 10 years1,131  12  —  1,143  1,305  —  (16) 1,289  
2,534  12  (23) 2,523  2,982  —  (94) 2,888  
Corporate bonds:
Within 1 year11,303  —  (13) 11,290  7,806  —  (68) 7,738  
After 1 year to 5 years29,109  536  (45) 29,600  18,508   (332) 18,177  
After 5 years to 10 years—  —  —  —  16,146  —  (392) 15,754  
Over 10 years60,000  —  (7,192) 52,808  60,000  —  (8,542) 51,458  
100,412  536  (7,250) 93,698  102,460   (9,334) 93,127  
Total$268,554  $1,464  $(7,875) $262,143  $342,711  $394  $(14,598) $328,507  
Information Related to Sales of Securities Available-for-Sale
The following table presents information related to sales of securities available-for-sale during the nine months ended September 30, 2019 and 2018:
 Nine Months Ended September 30,
(Dollars in thousands)20192018
Securities available-for-sale:
Proceeds from sales$24,987  $1,010  
Gross realized gains on sales65  10  
Gross realized losses on sales24  —  
Tax expense related to net realized gains on sales  
Amount of Securities in Unrealized Loss Position
The following table shows the fair value of securities that were in an unrealized loss position at September 30, 2019 and December 31, 2018 by the length of time those securities were in a continuous loss position. For the investment securities in an unrealized loss position, the Corporation has concluded, based on its analysis, that the unrealized losses are primarily caused by the movement of interest rates and current market conditions and there is no other-than temporary impairment of the securities. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the par value of the investment. It is more likely than not that the Corporation will not be required to sell the investments before a recovery of carrying value.
 Less than
Twelve Months
Twelve Months
or Longer
Total
(Dollars in thousands)Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
At September 30, 2019
Securities Held-to-Maturity
Residential mortgage-backed securities$20,960  $(147) $—  $—  $20,960  $(147) 
Total$20,960  $(147) $—  $—  $20,960  $(147) 
Securities Available-for-Sale
U.S. government corporations and agencies$—  $—  $299  $(2) $299  $(2) 
Residential mortgage-backed securities33,830  (147) 51,166  (453) 84,996  (600) 
Collateralized mortgage obligations—  —  1,380  (23) 1,380  (23) 
Corporate bonds1,000  —  68,553  (7,250) 69,553  (7,250) 
Total$34,830  $(147) $121,398  $(7,728) $156,228  $(7,875) 
At December 31, 2018
Securities Held-to-Maturity
U.S. government corporations and agencies$—  $—  $6,892  $(104) $6,892  $(104) 
Residential mortgage-backed securities48,192  (472) 34,501  (770) 82,693  (1,242) 
Total$48,192  $(472) $41,393  $(874) $89,585  $(1,346) 
Securities Available-for-Sale
U.S. government corporations and agencies$—  $—  $15,315  $(96) $15,315  $(96) 
State and political subdivisions9,311  (61) 15,302  (164) 24,613  (225) 
Residential mortgage-backed securities7,099  (106) 141,924  (4,743) 149,023  (4,849) 
Collateralized mortgage obligations1,289  (16) 1,599  (78) 2,888  (94) 
Corporate bonds16,896  (235) 75,730  (9,099) 92,626  (9,334) 
Total$34,595  $(418) $249,870  $(14,180) $284,465  $(14,598)