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SECURITIES (Tables)
9 Months Ended
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-For-Sale Securities
Information related to the amortized cost, fair value and allowance for credit losses of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is provided in the tables below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
September 30, 2021
U.S. Treasury securities$900 $0 $0 $0 $900 
U.S. government sponsored agencies118,681 17 (2,237)0 116,461 
Mortgage-backed securities: residential430,388 5,511 (4,066)0 431,833 
Mortgage-backed securities: commercial23,699 483 0 0 24,182 
State and municipal securities650,561 20,955 (5,177)0 666,339 
Total$1,224,229 $26,966 $(11,480)$0 $1,239,715 
December 31, 2020
U.S. government sponsored agencies$36,492 $56 $(61)$$36,487 
Mortgage-backed securities: residential270,231 9,289 (17)279,503 
Mortgage-backed securities: commercial35,877 1,004 36,881 
State and municipal securities355,306 26,696 (28)381,974 
Total$697,906 $37,045 $(106)$$734,845 
Schedule of Available-For-Sale Securities By Maturity
Information regarding the fair value and amortized cost of available-for-sale debt securities by maturity as of September 30, 2021 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty.
(dollars in thousands)Amortized CostFair
Value
Due in one year or less$4,245 $4,256 
Due after one year through five years11,953 12,284 
Due after five years through ten years50,464 52,987 
Due after ten years703,480 714,173 
770,142 783,700 
Mortgage-backed securities454,087 456,015 
Total debt securities$1,224,229 $1,239,715 
Schedule of Sales of Securities Available For Sale
Securities proceeds, gross gains and gross losses are presented below.
Three months ended September 30,Nine Months Ended September 30,
(dollars in thousands)2021202020212020
Sales of securities available-for-sale
Proceeds$0 $5,265 $13,964 $6,413 
Gross gains0 314 797 363 
Gross losses0 0 
Number of securities0 12 8 15 
Schedule of Available-For-Sale Securities Continuous Unrealized Loss Position
Information regarding securities with unrealized losses as of September 30, 2021 and December 31, 2020 is presented below. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
September 30, 2021            
U.S. government sponsored agencies$106,441 $2,237 $0 $0 $106,441 $2,237 
Mortgage-backed securities: residential245,919 4,066 0 0 245,919 4,066 
Mortgage-backed securities: commercial65 0 0 0 65 0 
State and municipal securities276,881 5,177 0 0 276,881 5,177 
Total temporarily impaired$629,306 $11,480 $0 $0 $629,306 $11,480 
December 31, 2020
U.S. government sponsored agencies$19,800 $61 $$$19,800 $61 
Mortgage-backed securities: residential3,112 17 3,115 17 
Mortgage-backed securities: commercial
State and municipal securities6,921 28 6,921 28 
Total temporarily impaired$26,724 $89 $3,112 $17 $29,836 $106 
Schedule of Quantitative Disclosure of Available-For-Sale Securities
The total number of securities with unrealized losses as of September 30, 2021 and December 31, 2020 is presented below.
Less than
12 months
12 months
or more
Total
September 30, 2021    
U.S. government sponsored agencies12 0 12 
Mortgage-backed securities: residential25 0 25 
Mortgage-backed securities: commercial1 0 1 
State and municipal securities162 0 162 
Total temporarily impaired200 0 200 
December 31, 2020
U.S. government sponsored agencies
Mortgage-backed securities: residential
Mortgage-backed securities: commercial
State and municipal securities
Total temporarily impaired