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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and estimated fair value of securities
The amortized cost and estimated fair value of securities were as follows:
 
 
September 30, 2019
 
 
Amortized
 Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
U.S. Treasury
 
$
60,457

 
$
3,733

 
$
—

 
$
64,190

Agency
 
251,329

 
10,778

 
(549
)
 
261,558

Corporate
 
125,564

 
2,255

 
(17
)
 
127,802

Municipal bonds
 
279,593

 
14,562

 
(56
)
 
294,099

Collateralized mortgage obligation: residential
 
10,514

 
132

 
(4
)
 
10,642

Mortgage-backed securities: residential
 
486,746

 
12,570

 
(952
)
 
498,364

Total investment securities available-for-sale
 
1,214,203

 
44,030

 
(1,578
)
 
1,256,655

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
38,686

 
967

 
(98
)
 
39,555

Other
 
1,747

 
—

 
—

 
1,747

Total investment securities held-to-maturity
 
40,433

 
967

 
(98
)
 
41,302

Total investment securities
 
$
1,254,636

 
$
44,997

 
$
(1,676
)
 
$
1,297,957


 
 
December 31, 2018
 
 
Amortized
Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Estimated
Fair Value
 
 
(dollars in thousands)
Investment securities available-for-sale:
 
 

 
 
 
 
 
 
U.S. Treasury
 
$
59,688

 
$
1,224

 
$
—

 
$
60,912

Agency
 
128,958

 
1,631

 
(519
)
 
130,070

Corporate
 
104,158

 
291

 
(906
)
 
103,543

Municipal bonds
 
238,914

 
1,941

 
(2,225
)
 
238,630

Collateralized mortgage obligation: residential
 
24,699

 
64

 
(425
)
 
24,338

Mortgage-backed securities: residential
 
554,751

 
1,112

 
(10,134
)
 
545,729

Total investment securities available-for-sale
 
1,111,168

 
6,263

 
(14,209
)
 
1,103,222

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
 
43,381

 
148

 
(686
)
 
42,843

Other
 
1,829

 
—

 
—

 
1,829

Total investment securities held-to-maturity
 
45,210

 
148

 
(686
)
 
44,672

Total investment securities
 
$
1,156,378

 
$
6,411

 
$
(14,895
)
 
$
1,147,894
Schedule of number, fair value and gross unrealized holding losses of the Company's investment securities by investment category and length of time that the securities have been in a continuous loss position
The table below shows the number, fair value and gross unrealized holding losses of the Company’s investment securities by investment category and length of time that the securities have been in a continuous loss position.
 
September 30, 2019
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
(dollars in thousands)
Investment securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
4

 
$
30,761

 
$
(207
)
 
11

 
$
15,789

 
$
(342
)
 
15

 
$
46,550

 
$
(549
)
Corporate
1

 
1,022

 
(13
)
 
1

 
1,526

 
(4
)
 
2

 
2,548

 
(17
)
Municipal bonds
10

 
9,809

 
(56
)
 
—

 
—

 
—

 
10

 
9,809

 
(56
)
Collateralized mortgage obligation: residential
—

 
—

 
—

 
1

 
652

 
(4
)
 
1

 
652

 
(4
)
Mortgage-backed securities: residential
6

 
47,359

 
(216
)
 
19

 
35,853

 
(736
)
 
25

 
83,212

 
(952
)
Total investment securities available-for-sale
21

 
88,951

 
(492
)
 
32

 
53,820

 
(1,086
)
 
53

 
142,771

 
(1,578
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
—

 
—

 
—

 
3

 
13,953

 
(98
)
 
3

 
13,953

 
(98
)
Total investment securities held-to-maturity
—

 
—

 
—

 
3

 
13,953

 
(98
)
 
3

 
13,953

 
(98
)
Total investment securities
21

 
$
88,951

 
$
(492
)
 
35

 
$
67,773

 
$
(1,184
)
 
56

 
$
156,724

 
$
(1,676
)

 
December 31, 2018
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
Number
 
Fair
Value
 
Gross
Unrealized
Holding
Losses
 
(dollars in thousands)
Investment securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Agency
15

 
$
26,229

 
$
(333
)
 
6

 
$
10,434

 
$
(186
)
 
21

 
$
36,663

 
$
(519
)
Corporate
9

 
47,805

 
(471
)
 
8

 
19,369

 
(435
)
 
17

 
67,174

 
(906
)
Municipal bonds
60

 
45,083

 
(369
)
 
102

 
69,693

 
(1,856
)
 
162

 
114,776

 
(2,225
)
Collateralized mortgage obligation: residential
1

 
814

 
(1
)
 
8

 
18,104

 
(424
)
 
9

 
18,918

 
(425
)
Mortgage-backed securities: residential
20

 
70,839

 
(435
)
 
120

 
324,864

 
(9,699
)
 
140

 
395,703

 
(10,134
)
Total investment securities available-for-sale
105

 
190,770

 
(1,609
)
 
244

 
442,464

 
(12,600
)
 
349

 
633,234

 
(14,209
)
Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
3

 
11,256

 
(81
)
 
3

 
15,741

 
(605
)
 
6

 
26,997

 
(686
)
Total investment securities held-to-maturity
3

 
11,256

 
(81
)
 
3

 
15,741

 
(605
)
 
6

 
26,997

 
(686
)
Total investment securities
108

 
$
202,026

 
$
(1,690
)
 
247

 
$
458,205

 
$
(13,205
)
 
355

 
$
660,231

 
$
(14,895
)
Schedule of amortized cost and estimated fair value of investment securities available for sale by contractual maturity
The amortized cost and estimated fair value of investment securities at September 30, 2019, by contractual maturity are shown in the table below.

 
Due in One Year
or Less
 
Due after One Year
through Five Years
 
Due after Five Years
through Ten Years
 
Due after
Ten Years
 
Total
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
 
(dollars in thousands)
Investment securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
$
498

 
$
499

 
$
20,171

 
$
20,702

 
$
39,788

 
$
42,989

 
$
—

 
$
—

 
$
60,457

 
$
64,190

Agency
—

 
—

 
42,658

 
44,453

 
165,240

 
171,635

 
43,431

 
45,470

 
251,329

 
261,558

Corporate
—

 
—

 
—

 
—

 
125,564

 
127,802

 
—

 
—

 
125,564

 
127,802

Municipal bonds
—

 
—

 
3,569

 
3,710

 
34,911

 
36,057

 
241,113

 
254,332

 
279,593

 
294,099

Collateralized mortgage obligation: residential
—

 
—

 
—

 
—

 
657

 
652

 
9,857

 
9,990

 
10,514

 
10,642

Mortgage-backed securities: residential
—

 
—

 
2,576

 
2,652

 
168,693

 
172,752

 
315,477

 
322,960

 
486,746

 
498,364

Total investment securities available-for-sale
498

 
499

 
68,974

 
71,517

 
534,853

 
551,887

 
609,878

 
632,752

 
1,214,203

 
1,256,655

Investment securities held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities: residential
—

 
—

 
913

 
953

 
—

 
—

 
37,773

 
38,602

 
38,686

 
39,555

Other
—

 
—

 
—

 
—

 
—

 
—

 
1,747

 
1,747

 
1,747

 
1,747

Total investment securities held-to-maturity
—

 
—

 
913

 
953

 
—

 
—

 
39,520

 
40,349

 
40,433

 
41,302

Total investment securities
$
498

 
$
499

 
$
69,887

 
$
72,470

 
$
534,853

 
$
551,887

 
$
649,398

 
$
673,101

 
$
1,254,636

 
$
1,297,957