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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2020

Amortized Cost and Fair Value of Securities Available For Sale

The amortized cost and fair value of the securities available for sale are as follows:

	March 31, 2020
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	54,900		70		-		54,970
State and political subdivisions		110		2		-		112
Mortgage backed securities and collateralized mortgage obligations - residential		343,168		8,906		7		352,067
Corporate bonds		47,943		779		158		48,564
Small Business Administration - guaranteed participation securities		46,392		376		-		46,768
Other		685		-		-		685

Total securities available for sale	$	493,198		10,133		165		503,166

	December 31, 2019
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	104,895		36		419		104,512
State and political subdivisions		160		2		-		162
Mortgage backed securities and collateralized mortgage obligations - residential		388,537		2,406		1,426		389,517
Corporate bonds		30,164		367		95		30,436
Small Business Administration - guaranteed participation securities		48,991		-		480		48,511
Other		685		-		-		685

Total securities available for sale	$	573,432		2,811		2,420		573,823

Securities, Available-for-sale and Held-to-maturity [Abstract]

Amortized Cost and Fair Value of Held to Maturity Securities

The amortized cost and fair value of the held to maturity securities are as follows:

	March 31, 2020
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	17,720		1,315		-		19,035
Total held to maturity	$	17,720		1,315		-		19,035

	December 31, 2019
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	18,618		1,062		-		19,680
Total held to maturity	$	18,618		1,062		-		19,680

Proceeds from Sales and Calls of Securities Available For Sale, Gross Realized Gains and Gross Realized Losses

The proceeds from sales and calls and maturities of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three months ended March 31, 2020 and 2019 are as follows:

(dollars in thousands)	Three months ended March 31,
	2020		2019

Proceeds from sales	$	29,219		-
Proceeds from calls/paydowns		69,144		16,041
Proceeds from maturities		5,000		10,000
Gross realized gains		1,155		-
Gross realized losses		-		-

Securities Available for Sale [Member]

Securities, Available-for-sale and Held-to-maturity [Abstract]

Debt Securities Based on Securities Contractual Maturity

The schedule of maturities of debt securities available for sale is presented below. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately.

(dollars in thousands)	Amortized Cost		Fair Value

Due in one year or less	$	10,062		10,104
Due in one year through five years		83,558		84,189
Due after five years through ten years		10,018		10,038
Mortgage backed securities and collateralized mortgage obligations		343,168		352,067
Small Business Administration - guaranteed participation securities		46,392		46,768
	$	493,198		503,166

Gross Unrealized Losses on Investment Securities and Related Fair Values in Unrealized Loss Position

Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows:

	March 31, 2020
	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss

Mortgage backed securities and collateralized mortgage obligations - residential	$	-		-		4,390		7		4,390		7
Corporate bonds		-		-		4,843		158		4,843		158

Total	$	-		-		9,233		165		9,233		165

	December 31, 2019
	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss		Fair Value		Gross Unreal. Loss

U.S. government sponsored enterprises	$	19,820		180		74,656		239		94,476		419
Mortgage backed securities and collateralized mortgage obligations - residential		67,322		446		169,169		980		236,491		1,426
Corporate bonds		4,905		95		-		-		4,905		95
Small Business Administration - guaranteed participation securities		48,510		480		-		-		48,510		480

Total	$	140,557		1,201		243,825		1,219		384,382		2,420

Held to Maturity Securities [Member]

Securities, Available-for-sale and Held-to-maturity [Abstract]

Debt Securities Based on Securities Contractual Maturity

The following table distributes the held to maturity portfolio as of March 31, 2020, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately:

(dollars in thousands)	Amortized Cost		Fair Value
Mortgage backed securities and collateralized mortgage obligations - residential	$	17,720		19,035
	$	17,720		19,035