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Securities (Tables)
 6 Months Ended
Jun. 30, 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)
 
June 30, 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

$155,270

 

$1,368

 

$—

 

$—

 

$156,638

Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises
740,104

 
20,985

 
(33
)
 
—

 
761,056

Individual name issuer trust preferred debt securities
13,332

 
—

 
(1,603
)
 
—

 
11,729

Corporate bonds
11,147

 
—

 
(2,124
)
 
—

 
9,023

Total available for sale debt securities

$919,853

 

$22,353

 

($3,760
)
 

$—

 

$938,446


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
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
June 30, 2020
Amortized Cost
 
Fair Value
Due in one year or less

$108,361

 

$111,419

Due after one year to five years
320,989

 
329,271

Due after five years to ten years
315,206

 
319,219

Due after ten years
175,297

 
178,537

Total debt securities

$919,853

 

$938,446
Schedule of Proceeds from Sales and Gross Realized Gains (Losses)
The following table summarizes amounts relating to sales of securities:
 
 
 
 
 
 
 
 
(Dollars in thousands)
Three Months
 
Six Months
For the periods ended June 30,
2020
 
2019
 
2020
 
2019
Proceeds from sales

$—

 

$9,920

 

$—

 

$9,920

 
 
 
 
 
 
 
 
Gross realized gains

$—

 

$—

 

$—

 

$—

Gross realized losses
—

 
(80
)
 
—

 
(80
)
Net realized losses on securities

$—

 

($80
)
 

$—

 

($80
)
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 June 30, 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
June 30, 2020
#
 
Fair
Value
Unrealized
Losses
 
#

 
Fair
Value
Unrealized
Losses
 
#

 
Fair
Value
Unrealized
Losses
Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises
2

 

$10,612


($33
)
 
—

 

$—


$—

 
2

 

$10,612


($33
)
Individual name issuer trust preferred debt securities
—

 
—

—

 
5

 
11,729

(1,603
)
 
5

 
11,729

(1,603
)
Corporate bonds
—

 
—

—

 
3

 
9,023

(2,124
)
 
3

 
9,023

(2,124
)
Total
2

 

$10,612


($33
)
 
8

 

$20,752


($3,727
)
 
10

 

$31,364


($3,760
)

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
)