INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2020

INVESTMENT SECURITIES

Schedule of amortized cost and fair value of securities available-for-sale and securities held-to-maturity

			Gross		Gross
			Unrealized/		Unrealized/
	Amortized		Unrecognized		Unrecognized
At March 31, 2020	Cost		Gains		Losses		Fair Value
Debt securities available for sale:
Residential mortgage securities	$	163,163	$	5,951	$	—	$	169,114
Commercial mortgage securities		29,371		1,374		(5)		30,740
Total securities available-for-sale	$	192,534	$	7,325	$	(5)	$	199,854
Held-to-maturity securities:
Residential mortgage securities	$	3,520	$	68	$	—	$	3,588
Total securities held-to-maturity	$	3,520	$	68	$	—	$	3,588
Equity investments:
CRA Mutual Fund	$	2,270	$	2	$	—	$	2,272
Total non-trading equity investment securities	$	2,270	$	2	$	—	$	2,272

			Gross		Gross
			Unrealized/		Unrealized/
	Amortized		Unrecognized		Unrecognized
At December 31, 2019	Cost		Gains		Losses		Fair Value
Debt securities available for sale:
Residential mortgage securities	$	175,902	$	1,478	$	(117)	$	177,263
Commercial mortgage securities		32,284		206		(18)		32,472
U.S. Government agency securities		25,000		207		—		25,207
Total securities available for sale	$	233,186	$	1,891	$	(135)	$	234,942
Held-to-maturity securities:
Residential mortgage securities		3,722		9		(19)		3,712
Total securities held to maturity	$	3,722	$	9	$	(19)	$	3,712
Equity investments:
CRA Mutual Fund		2,258		—		(34)		2,224
Total non-trading equity investment securities	$	2,258	$	—	$	(34)	$	2,224

Schedule of Realized Gain (Loss) on Sales and Calls of Securities

The proceeds from sales and calls of securities and associated gains for the three months ended March 31, 2020 are listed below (in thousands):

	Three months ended March 31,
	2020		2019
Proceeds	$	20,975	$	—
Gross gains	$	975	$	—
Tax impact	$	(387)	$	—

Schedule of amortized cost and fair value of debt securities classified by contractual maturity

At March 31, 2020	Held-to-Maturity				Available-for-Sale
(in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	—	$	—	$	—	$	—
One to five years		—		—		—		—
Five to ten years		—		—		—		—
After ten years		—		—		—		—
Total	$	—	$	—	$	—	$	—
Residential mortgage securities	$	3,520	$	3,588		163,163		169,114
Commercial mortgage securities		—		—		29,371		30,740
Total Securities	$	3,520	$	3,588	$	192,534	$	199,854

At December 31, 2019	Held-to-Maturity				Available-for-Sale
(in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	—	$	—	$	—	$	—
One to five years		—		—		—		—
Five to ten years		—		—		25,000		25,207
Due after ten years		—		—		—		—
Total	$	—	$	—	$	25,000	$	25,207
Residential mortgage securities	$	3,722	$	3,712	$	175,902	$	177,263
Commercial mortgage securities		—		—		32,284		32,472
Total Securities	$	3,722	$	3,712	$	233,186	$	234,942

Schedule of securities with unrealized/unrecognized losses

	Less than 12 Months				12 months or more				Total
			Unrealized/				Unrealized/				Unrealized/
	Estimated		Unrecognized		Estimated		Unrecognized		Estimated		Unrecognized
At March 31, 2020	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Debt securities available for sale:
Residential mortgage securities	$	—	$	—	$	—	$	—	$	—	$	—
Commercial mortgage securities		388		(5)		—		—		388		(5)
Total securities available for sale	$	388	$	(5)	$	—	$	—	$	388	$	(5)
Held-to-Maturity Securities:
Residential mortgage securities	$	—	$	—	$	—	$	—	$	—	$	—
Total securities held to maturity	$	—	$	—	$	—	$	—	$	—	$	—
Equity investments:
CRA Mutual Fund	$	—	$	—	$	—	$	—	$	—	$	—
Total equity investment securities	$	—	$	—	$	—	$	—	$	—	$	—

	Less than 12 Months				12 months or more				Total
			Unrealized/				Unrealized/				Unrealized/
	Estimated		Unrecognized		Estimated		Unrecognized		Estimated		Unrecognized
At December 31, 2019	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Debt securities available for sale:
Residential mortgage securities	$	22,850	$	(52)	$	6,728	$	(65)	$	29,578	$	(117)
Commercial mortgage securities		9,911		(18)		-		-		9,911		(18)
Total securities available-for-sale	$	32,761	$	(70)	$	6,728	$	(65)	$	39,489	$	(135)
Held-to-Maturity Securities:
Residential mortgage securities	$	—	$	—	$	1,470	$	(19)	$	1,470	$	(19)
Total securities held to maturity	$	—	$	—	$	1,470	$	(19)	$	1,470	$	(19)
Equity investments:
CRA Mutual Fund	$	—	$	—	$	2,224	$	(34)	$	2,224	$	(34)
Total equity investment securities	$	—	$	—	$	2,224	$	(34)	$	2,224	$	(34)