SECURITIES (Tables)

12 Months Ended

Dec. 31, 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 at December 31, 2020 and 2019 are as follows (in thousands):

	2020				2019
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Mortgage-backed securities, residential	$	458,245	$	467,866	$	225,029	$	225,234
Obligations of states and political subdivisions	40,662		43,405		41,265		42,845
Corporate bonds and notes	9,000		9,035		250		250
SBA loan pools	34,455		34,305		15,712		15,761
Total	$	542,362	$	554,611	$	282,256	$	284,090

Gross unrealized gains and losses on securities available for sale at December 31, 2020 and 2019, were as follows (in thousands):

	2020				2019
	Unrealized Gains		Unrealized Losses		Unrealized Gains		Unrealized Losses
Mortgage-backed securities, residential	$	9,822	$	201	$	1,471	$	1,266
Obligations of states and political subdivisions	2,743		—		1,580		—
Corporate bonds and notes	47		12		—		—
SBA loan pools	42		192		95		46
Total	$	12,654	$	405	$	3,146	$	1,312

Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale by Contractual Maturity

Securities not due at a single maturity date are shown separately (in thousands):

	December 31, 2020
	Amortized Cost		Fair Value
Within one year
After one, but within five years	27,215		28,757
After five, but within ten years	21,688		22,875
After ten years	759		808
Mortgage-backed securities, residential	458,245		467,866
SBA loan pools	34,455		34,305
Total	$	542,362	$	554,611

Proceeds from Sales and Calls of Securities Resulting in Gains or Losses

The proceeds from sales and calls of securities resulting in gains or losses are listed below (in thousands):

	2020		2019		2018
Proceeds	$	—	$	8,513	$	—
Gross gains	$	—	$	159	$	—
Gross losses	$	—	$	(140)	$	—
Tax expense	$	—	$	5	$	—

Amortized Cost and Estimated Fair Value of Securities Held to Maturity

Amortized cost and estimated fair value of securities held to maturity at December 31, 2020 and 2019 are as follows (in thousands):

	2020				2019
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Obligations of states and political subdivisions	$	326	$	326	$	1,045	$	1,045
Time deposits with other financial institutions	2,143		2,175		2,070		2,094
	$	2,469	$	2,501	$	3,115	$	3,139

Gross unrealized gains and losses on securities held to maturity at December 31, 2020 and 2019, were as follows (in thousands):

	2020				2019
	Unrealized Gains		Unrealized Losses		Unrealized Gains		Unrealized Losses
Obligations of states and political subdivisions	$	—	$	—	$	—	$	—
Time deposits with other financial institutions	32		—		24		—
Total	$	32	$	—	$	24	$	—

Contractual Maturities of Securities Held to Maturity

The contractual maturity of securities held to maturity is as follows at December 31, 2020 (in thousands):

	December 31, 2020
	Amortized Cost		Fair Value
Within one year	$	856	$	863
After one, but within five years	1,613		1,638
After five, but within ten years	—		—
After ten years	—		—
Total	$	2,469	$	2,501

Investment Securities Available for Sale in Unrealized Loss Position

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

	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2020
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage-backed securities, residential	70,037		200		970		1		71,007		201
Obligations of states and political subdivisions	—		—		—		—		—		—
Corporate bonds and notes	2,988		12		—		—		2,988		12
SBA loan pools	15,245		156		3,636		36		18,881		192
Total temporarily impaired securities	$	88,270	$	368	$	4,606	$	37	$	92,876	$	405

	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2019
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage-backed securities, residential	71,506		791		54,343		$	475	125,849		1,266
Obligations of states and political subdivisions	—		—		—		—		—		—
Corporate bonds and notes	—		—		—		—		—		—
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