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Impairment of Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2019
Impairment of Investment Securities Disclosure [Abstract]  
Schedule of Unrealized Losses and Estimated Fair Values
The following table presents the gross unrealized losses and estimated fair values at December 31, 2019 for both available for sale and held to maturity securities by investment category and time frame for which the securities have been in a continuous unrealized loss position:
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Commercial
$
54,501

 
$
(201
)
 
$
16,365

 
$
(149
)
 
$
70,866

 
$
(350
)
Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
111,969

 
(436
)
 
219,015

 
(2,801
)
 
330,984

 
(3,237
)
Total Securities
$
166,470

 
$
(637
)
 
$
235,380

 
$
(2,950
)
 
$
401,850

 
$
(3,587
)
 
At December 31, 2019, fixed income securities issued by U.S. Government-sponsored enterprises comprised 90% of total unrealized losses and Government agencies account for 10% of total unrealized losses. All unrealized losses are a result of changes in market interest rates. At December 31, 2019, there were 36 debt securities in an unrealized loss position, 25 of which related to residential mortgage-backed securities with an unrealized loss of 12 months or more. There were no equity securities in an unrealized loss position at December 31, 2019.

The following table presents the gross unrealized losses and estimated fair value at December 31, 2018 for both available for sale and held to maturity securities by investment category and time frame for which the securities had been in a continuous unrealized loss position: 
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
 
Gross
Unrealized
Losses
 
(dollars in thousands)
Obligations of U.S. Government Agencies:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
$
2,289

 
$
(41
)
 
$
5,028

 
$
(140
)

$
7,317

 
$
(181
)
Mortgage-Backed Securities – Commercial
95,826

 
(925
)
 
75,959

 
(3,505
)
 
171,785

 
(4,430
)
Obligations of U.S. Government-Sponsored Enterprises:
 
 
 
 
 
 
 
 
 
 
 
Mortgage-Backed Securities – Residential
156,732

 
(1,856
)
 
626,003

 
(20,789
)

782,735

 
(22,645
)
Mortgage-Backed Securities – Commercial
—

 
—

 
12,901

 
(258
)
  
12,901

 
(258
)
Obligations of States and Political Subdivisions
8,591

 
(85
)
 
9,338

 
(234
)
 
17,929

 
(319
)
Corporate Securities
14,769

 
(214
)
 
3,993

 
(7
)
  
18,762

 
(221
)
Total Securities
$
278,207

 
$
(3,121
)
 
$
733,222

 
$
(24,933
)
 
$
1,011,429

 
$
(28,054
)
Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities Held and Not Intended to be Sold
 
2019
 
2018
 
2017
 
(dollars in thousands)
Balance, beginning (a)
$
—

 
$
12,208

 
$
17,056

Credit losses on debt securities for which other-than-temporary impairment was not previously recognized
—

 
—

 
—

Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized
—

 
—

 
—

Increases in cash flows expected to be collected, recognized over the remaining life of the securities (b)
—

 
(223
)
 
(890
)
Reduction for debt securities sold during the period
—

 
(9,164
)
 
—

Reduction for debt securities called during the period
—

 
(2,821
)
 
(3,958
)
Balance, ending
$
—

 
$
—

 
$
12,208

(a)
The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods.
(b)
Represents the increase in cash flows recognized either as principal payments or interest income during the period.