NOTE 3 - INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2019

Notes Tables

Amortized cost and fair value of investment securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
	(dollars in thousands)
September 30, 2019:
Securities HTM:
Municipal securities	$	342,427	$	20,122	$	(119)	$	362,430
Other securities		1,050		—		(6)		1,044
	$	343,477	$	20,122	$	(125)	$	363,474
Securities AFS:
U.S. govt. sponsored agency securities	$	20,861	$	470	$	(63)	$	21,268
Residential mortgage-backed and related securities		121,118		2,962		(200)		123,880
Municipal securities		47,259		1,653		(10)		48,902
Other securities		17,711		172		(1)		17,882
	$	206,949	$	5,257	$	(274)	$	211,932

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
	(dollars in thousands)
December 31, 2018:
Securities HTM:
Municipal securities	$	400,863	$	5,661	$	(6,803)	$	399,721
Other securities		1,050		—		(1)		1,049
	$	401,913	$	5,661	$	(6,804)	$	400,770
Securities AFS:
U.S. govt. sponsored agency securities	$	37,150	$	39	$	(778)	$	36,411
Residential mortgage-backed and related securities		163,698		182		(4,631)		159,249
Municipal securities		59,069		180		(703)		58,546
Other securities		6,754		100		(4)		6,850
	$	266,671	$	501	$	(6,116)	$	261,056

Securities have been in a continuous unrealized loss position

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(dollars in thousands)
September 30, 2019:
Securities HTM:
Municipal securities	$	1,037	$	(1)	$	7,839	$	(118)	$	8,876	$	(119)
Other securities		1,044		(6)		—		—		1,044		(6)
	$	2,081	$	(7)	$	7,839	$	(118)	$	9,920	$	(125)
Securities AFS:
U.S. govt. sponsored agency securities	$	1,618	$	(1)	$	2,318	$	(62)	$	3,936	$	(63)
Residential mortgage-backed and related securities		1,194		(1)		20,376		(199)		21,570		(200)
Municipal securities		1,686		(3)		723		(7)		2,409		(10)
Other securities		248		(1)		—		—		248		(1)
	$	4,746	$	(6)	$	23,417	$	(268)	$	28,163	$	(274)

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(dollars in thousands)
December 31, 2018:
Securities HTM:
Municipal securities	$	114,201	$	(2,187)	$	69,412	$	(4,616)	$	183,613	$	(6,803)
Other securities		549		(1)		—		—		549		(1)
	$	114,750	$	(2,188)	$	69,412	$	(4,616)	$	184,162	$	(6,804)
Securities AFS:
U.S. govt. sponsored agency securities	$	1,565	$	(34)	$	29,605	$	(744)	$	31,170	$	(778)
Residential mortgage-backed and related securities		12,810		(148)		133,535		(4,483)		146,345		(4,631)
Municipal securities		28,356		(394)		15,932		(309)		44,288		(703)
Other securities		4,249		(4)		—		—		4,249		(4)
	$	46,980	$	(580)	$	179,072	$	(5,536)	$	226,052	$	(6,116)

Realized gain (loss) on investments

	Three Months Ended				Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
		(dollars in thousands)
Proceeds from sales of securities	$	23,364	$	1,938	$	28,025	$	1,938
Gross gains from sales of securities		143		—		150		—
Gross losses from sales of securities		(146)		—		(206)		—

Investments classified by maturity date

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Due in one year or less	$	2,946	$	2,954
Due after one year through five years		31,055		31,689
Due after five years		309,476		328,831
	$	343,477	$	363,474
Securities AFS:
Due in one year or less	$	1,084	$	1,088
Due after one year through five years		17,157		17,384
Due after five years		67,590		69,580
		85,831		88,052
Residential mortgage-backed and related securities		121,118		123,880
	$	206,949	$	211,932

Schedule of investment in callable securities

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Municipal securities	$	176,339	$	181,785
Securities AFS:
Municipal securities		40,262		41,646
Other securities		6,504		6,677
	$	46,766	$	48,323