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Securities (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Investments
The following table presents the amortized cost, gross unrealized holding gains, gross unrealized holding losses, ACL on securities and fair value of securities by major security type and class of security:
(Dollars in thousands)
 
March 31, 2020
Amortized Cost
 
Unrealized Gains
 
Unrealized Losses
 
Allowance for Credit Losses
 
Fair Value
Available for Sale Debt Securities:
 
 
 
 
 
 
 
 
 
Obligations of U.S. government-sponsored enterprises

$132,262

 

$1,408

 

($169
)
 

$—

 

$133,501

Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises
739,701

 
24,689

 
(46
)
 
—

 
764,344

Individual name issuer trust preferred debt securities
13,328

 
—

 
(2,232
)
 
—

 
11,096

Corporate bonds
11,144

 
—

 
(2,693
)
 
—

 
8,451

Total available for sale debt securities

$896,435

 

$26,097

 

($5,140
)
 

$—

 

$917,392

Total securities

$896,435

 

$26,097

 

($5,140
)
 

$—

 

$917,392


The following table presents the amortized cost, gross unrealized holding gains, gross unrealized holding losses and fair value of securities by major security type and class of security:
(Dollars in thousands)
 
December 31, 2019
Amortized Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value
Available for Sale Debt Securities:
 
 
 
 
 
 
 
Obligations of U.S. government-sponsored enterprises

$157,255

 

$626

 

($233
)
 

$157,648

Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises
713,553

 
8,491

 
(2,964
)
 
719,080

Individual name issuer trust preferred debt securities
13,324

 
—

 
(745
)
 
12,579

Corporate bonds
11,141

 
—

 
(958
)
 
10,183

Total available for sale debt securities

$895,273

 

$9,117

 

($4,900
)
 

$899,490

Total securities

$895,273

 

$9,117

 

($4,900
)
 

$899,490
Securities by Contractual Maturity
The schedule of maturities of available for sale debt securities is presented below. Mortgage-backed securities are included based on weighted average maturities, adjusted for anticipated prepayments.  All other debt securities are included based on contractual maturities.  Actual maturities may differ from amounts presented because certain issuers have the right to call or prepay obligations with or without call or prepayment penalties.
(Dollars in thousands)
Available for Sale
March 31, 2020
Amortized Cost
 
Fair Value
Due in one year or less

$110,903

 

$114,238

Due after one year to five years
339,369

 
349,303

Due after five years to ten years
269,847

 
273,824

Due after ten years
176,316

 
180,027

Total debt securities

$896,435

 

$917,392
Securities in a Continuous Unrealized Loss Position
The following table summarizes available for sale debt securities in an unrealized loss position for which an allowance for credit losses on securities has not been recorded at March 31, 2020, segregated by length of time the securities have been in a continuous unrealized loss position:
(Dollars in thousands)
Less than 12 Months
 
12 Months or Longer
 
Total
March 31, 2020
#
 
Fair
Value
Unrealized
Losses
 
#

 
Fair
Value
Unrealized
Losses
 
#

 
Fair
Value
Unrealized
Losses
Obligations of U.S. government-sponsored enterprises
1

 

$24,831


($169
)
 
—

 

$—


$—

 
1

 

$24,831


($169
)
Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises
4

 
12,178

(46
)
 
—

 
—

—

 
4

 
12,178

(46
)
Individual name issuer trust preferred debt securities
—

 
—

—

 
5

 
11,096

(2,232
)
 
5

 
11,096

(2,232
)
Corporate bonds
—

 
—

—

 
3

 
8,451

(2,693
)
 
3

 
8,451

(2,693
)
Total
5

 

$37,009


($215
)
 
8

 

$19,547


($4,925
)
 
13

 

$56,556


($5,140
)

The following tables summarize temporarily impaired securities, segregated by length of time the securities have been in a continuous unrealized loss position:
(Dollars in thousands)
Less than 12 Months
 
12 Months or Longer
 
Total
December 31, 2019
#

 
Fair
Value
Unrealized
Losses
 
#

 
Fair
Value
Unrealized
Losses
 
#

 
Fair
Value
Unrealized
Losses
Obligations of U.S. government-sponsored enterprises
3

 

$20,364


($136
)
 
3

 

$49,902


($97
)
 
6

 

$70,266


($233
)
Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises
4

 
41,150

(56
)
 
23

 
216,804

(2,908
)
 
27

 
257,954

(2,964
)
Individual name issuer trust preferred debt securities
—

 
—

—

 
5

 
12,579

(745
)
 
5

 
12,579

(745
)
Corporate bonds
—

 
—

—

 
3

 
10,183

(958
)
 
3

 
10,183

(958
)
Total
7

 

$61,514


($192
)
 
34

 

$289,468


($4,708
)
 
41

 

$350,982


($4,900
)