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Investment Securities (Tables)
3 Months Ended
Mar. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]  
Analysis of Amortized Cost and Estimated Fair Value of Securities Available for Sale
Below is an analysis of the amortized cost and estimated fair values of securities available for sale at:
 March 31, 2020December 31, 2019
 Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential$7,395  $721  $—  $8,116  $7,745  $596  $—  $8,341  
Mortgage-Backed Securities – Commercial235,884  5,088  (215) 240,757  186,316  2,983  (166) 189,133  
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential670,251  18,973  —  689,224  660,777  4,113  (2,943) 661,947  
Other Government-Sponsored Enterprises1,000   —  1,004  1,000  —  —  1,000  
Obligations of States and Political Subdivisions9,891  136  —  10,027  17,738  171  —  17,909  
Corporate Securities22,924  574  —  23,498  22,919  1,043  —  23,962  
Total Securities Available for Sale$947,345  $25,496  $(215) $972,626  $896,495  $8,906  $(3,109) $902,292  
Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale
The amortized cost and estimated fair value of debt securities available for sale at March 31, 2020, by contractual maturity, are shown below.
Amortized
Cost
Estimated
Fair Value
 (dollars in thousands)
Due within 1 year$5,597  $5,601  
Due after 1 but within 5 years23,248  23,536  
Due after 5 but within 10 years4,970  5,392  
Due after 10 years—  —  
33,815  34,529  
Mortgage-Backed Securities (a)913,530  938,097  
Total Debt Securities$947,345  $972,626  
 
(a)Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $243.3 million and a fair value of $248.9 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $670.3 million and a fair value of $689.2 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale
Proceeds from sales, gross gains (losses) realized on sales, maturities and other-than-temporary impairment charges related to securities available for sale were as follows for the three months ended March 31:
20202019
 (dollars in thousands)
Proceeds from sales$—  $—  
Gross gains (losses) realized:
Sales transactions:
Gross gains$—  $—  
Gross losses—  —  
—  —  
Maturities
Gross gains19  —  
Gross losses—  —  
19  —  
Net gains and impairment$19  $—