Securities (Tables)

9 Months Ended

Sep. 30, 2020

Securities

Schedule of amortized cost and estimated fair value of securities

			Gross		Gross		Allowance		Estimated
	Amortized		Unrealized		Unrealized		for Credit		Fair
September 30, 2020	Cost		Gains		(Losses)		Losses		Value
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	197,921	$	5,688	$	—	$	—	$	203,609
U.S. Treasury		89,649		1,180		—		—		90,829
Total	$	287,570	$	6,868	$	—	$	—	$	294,438
			Gross		Gross		Estimated		Allowance
	Amortized		Unrecognized		Unrecognized		Fair		for Credit
September 30, 2020	Cost		Gains		(Losses)		Value		Losses
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	223,453	$	6,613	$	(1)	$	230,065	$	—
Municipals - exempt from Federal tax		72,211		1,720		—		73,931		(55)
Total	$	295,664	$	8,333	$	(1)	$	303,996	$	(55)

			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
December 31, 2019	Cost		Gains		(Losses)		Value
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	283,598	$	934	$	(171)	$	284,361
U.S. Treasury		118,939		1,525		—		120,464
Total	$	402,537	$	2,459	$	(171)	$	404,825
			Gross		Gross		Estimated
	Amortized		Unrecognized		Unrecognized		Fair
December 31, 2019	Cost		Gains		(Losses)		Value
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	285,344	$	1,206	$	(968)	$	285,582
Municipals - exempt from Federal tax		81,216		1,313		(4)		82,525
Total	$	366,560	$	2,519	$	(972)	$	368,107

Schedule of securities with unrealized losses

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
September 30, 2020	Value		(Losses)		Value		(Losses)		Value		(Losses)
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	245		(1)	$	—	$	—	$	245	$	(1)
Total	$	245	$	(1)	$	—	$	—	$	245	$	(1)

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2019	Value		(Losses)		Value		(Losses)		Value		(Losses)
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	100,816	$	(105)	$	27,534	$	(66)	$	128,350	$	(171)
Total	$	100,816	$	(105)	$	27,534	$	(66)	$	128,350	$	(171)
Securities held-to-maturity:
Agency mortgage-backed securities	$	50,060	$	(178)	$	88,128	$	(790)	$	138,188	$	(968)
Municipals - exempt from Federal tax		1,556		(4)		—		—		1,556		(4)
Total	$	51,616	$	(182)	$	88,128	$	(790)	$	139,744	$	(972)

Schedule of proceeds from sales of securities and the resulting gains and losses

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
	(Dollars in thousands)
Proceeds	$	—	$	38,855	$	56,598	$	98,733
Gross gains		—		363		270		971
Gross losses		—		(33)		—		(93)

Schedule of amortized cost and estimated fair values of securities, by contractual maturity

	Available-for-sale
	Amortized		Estimated
	Cost		Fair Value
	(Dollars in thousands)
Due 3 months or less	$	24,980	$	25,061
Due after 3 months through one year		59,758		60,708
Due after one through five years		4,911		5,060
Agency mortgage-backed securities		197,921		203,609
Total	$	287,570	$	294,438

	Held-to-maturity
	Amortized		Estimated
	Cost		Fair Value
	(Dollars in thousands)
Due 3 months or less	$	910	$	911
Due after 3 months through one year		490		498
Due after one through five years		9,762		10,133
Due after five through ten years		30,900		31,574
Due after ten years		30,149		30,815
Agency mortgage-backed securities		223,453		230,065
Total	$	295,664	$	303,996

Schedule of rollforward by major security type of the allowance for credit losses on debt securities held-to-maturity

		Municipals
		(Dollars in thousands)
Beginning balance January 1, 2020	$	-
Impact of adopting Topic 326		58
Provision (credit) for credit loss		(3)
Ending balance September 30, 2020	$	55