SECURITIES (Tables)

9 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Amortized cost and estimated fair value of securities available for sale

Amortized cost and estimated fair value of securities available for sale are as follows (in thousands):

	September 30, 2020
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Mortgage-backed securities, residential	$	317,087	$	9,385	$	204	$	326,268
Obligations of states and political subdivisions	40,694		2,566		—		43,260
Corporate bonds and notes	7,000		64		—		7,064
SBA loan pools	19,766		47		105		19,708
Total	$	384,547	$	12,062	$	309	$	396,300

	December 31, 2019
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Mortgage-backed securities, residential	$	225,029	$	1,471	$	1,266	$	225,234
Obligations of states and political subdivisions	41,265		1,580		—		42,845
Corporate bonds and notes	250		—		—		250
SBA loan pools	15,712		95		46		15,761
Total	$	282,256	$	3,146	$	1,312	$	284,090

Amortized cost and estimated fair value of securities held to maturity

Amortized cost and estimated fair value of securities held to maturity are as follows (in thousands):

	September 30, 2020
	Amortized Cost		Unrecognized Gains		Unrecognized Losses		Estimated Fair Value
Obligations of states and political subdivisions	$	409	$	—	$	—	$	409
Time deposits with other financial institutions	2,638		46		—		2,684
Total	$	3,047	$	46	$	—	$	3,093

	December 31, 2019
	Amortized Cost		Unrecognized Gains		Unrecognized Losses		Estimated Fair Value
Obligations of states and political subdivisions	$	1,045	$	—	$	—	$	1,045
Time deposits with other financial institutions	2,070		24		—		2,094
Total	$	3,115	$	24	$	—	$	3,139

Amortized cost and estimated fair value of debt securities by contractual maturity

The amortized cost and estimated fair value of debt securities are shown below by expected maturity.  Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.  Securities not due at a single maturity date are shown separately (in thousands):

	September 30, 2020
	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	—	$	—	$	609	$	613
After one, but within five years	27,232		28,769		2,438		2,480
After five, but within ten years	19,703		20,755		—		—
After ten years	759		800		—		—
	47,694		50,324		3,047		3,093
Mortgage-backed securities, residential	317,087		326,268		—		—
SBA loan pools	19,766		19,708		—		—
Total	$	384,547	$	396,300	$	3,047	$	3,093

Gain (Loss) on Securities

The proceeds from sales and calls of securities resulting in gains or losses for the nine months ended September 30, 2020 and 2019 are listed below (in thousands):

	2020		2019
Proceeds	$	—	$	15,200
Gross gains	—		79
Gross losses	—		(60)
Tax expense	—		5

Investment securities available for sale in an unrealized loss position

The following tables summarize the investment securities available for sale with unrealized losses at September 30, 2020 and December 31, 2019 by aggregated major security type and length of time in a continuous unrealized loss position (in thousands):

	Less than 12 months				12 months or longer				Total
September 30, 2020	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Mortgage-backed securities, residential	$	77,898	$	202	$	1,056	$	2	$	78,954	$	204
SBA loan pools	8,657		56		3,665		49		12,322		105
Total temporarily impaired securities	$	86,555	$	258	$	4,721	$	51	$	91,276	$	309

	Less than 12 months				12 months or longer				Total
December 31, 2019	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Mortgage-backed securities, residential	$	71,506	$	791	$	54,343	$	475	$	125,849	$	1,266
SBA loan pools	3,014		9		1,405		37		4,419		46
Total temporarily impaired securities	$	74,520	$	800	$	55,748	$	512	$	130,268	$	1,312