NOTE 2 - INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

Amortized cost and fair value of investment securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
	(dollars in thousands)
March 31, 2020:
Securities HTM:
Municipal securities	$	430,233	$	21,886	$	(2,768)	$	449,351
Other securities		1,050		—		—		1,050
	$	431,283	$	21,886	$	(2,768)	$	450,401
Securities AFS:
U.S. govt. sponsored agency securities	$	18,998	$	502	$	(43)	$	19,457
Residential mortgage-backed and related securities		116,768		6,149		(64)		122,853
Municipal securities		61,432		2,004		(5)		63,431
Asset-backed securities		31,076		—		(2,577)		28,499
Other securities		18,800		252		(4)		19,048
	$	247,074	$	8,907	$	(2,693)	$	253,288

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
	(dollars in thousands)
December 31, 2019:
Securities HTM:
Municipal securities	$	399,596	$	26,042	$	(143)	$	425,495
Other securities		1,050		—		—		1,050
	$	400,646	$	26,042	$	(143)	$	426,545
Securities AFS:
U.S. govt. sponsored agency securities	$	19,872	$	283	$	(77)	$	20,078
Residential mortgage-backed and related securities		118,724		2,045		(182)		120,587
Municipal securities		46,659		1,602		(4)		48,257
Asset-backed securities		16,958		—		(71)		16,887
Other securities		4,749		138		(1)		4,886
	$	206,962	$	4,068	$	(335)	$	210,695

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)
March 31, 2020:
Securities HTM:
Municipal securities	$	52,609	$	(2,762)	$	531	$	(6)	$	53,140	$	(2,768)
Other securities		1,050		—		—		—		1,050		—
	$	53,659	$	(2,762)	$	531	$	(6)	$	54,190	$	(2,768)
Securities AFS:
U.S. govt. sponsored agency securities	$	1,449	$	(2)	$	1,920	$	(41)	$	3,369	$	(43)
Residential mortgage-backed and related securities		2,509		(14)		1,875		(50)		4,384		(64)
Municipal securities		386		(1)		336		(4)		722		(5)
Asset-backed securities		23,752		(2,577)		—		—		23,752		(2,577)
Other securities		246		(4)		—		—		246		(4)
	$	28,342	$	(2,598)	$	4,131	$	(95)	$	32,473	$	(2,693)

	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, 2019:
Securities HTM:
Municipal securities	$	509	$	(1)	$	10,047	$	(142)	$	10,556	$	(143)
Other securities		550		—		—		—		550		—
	$	1,059	$	(1)	$	10,047	$	(142)	$	11,106	$	(143)
Securities AFS:
U.S. govt. sponsored agency securities	$	1,431	$	(21)	$	2,117	$	(56)	$	3,548	$	(77)
Residential mortgage-backed and related securities		2,263		(17)		17,862		(165)		20,125		(182)
Municipal securities		—		—		724		(4)		724		(4)
Asset-backed securities		16,886		(71)		—		—		16,886		(71)
Other securities		249		(1)		—		—		249		(1)
	$	20,829	$	(110)	$	20,703	$	(225)	$	41,532	$	(335)

Investments classified by maturity date

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Due in one year or less	$	3,016	$	3,023
Due after one year through five years		34,967		35,545
Due after five years		393,300		411,833
	$	431,283	$	450,401
Securities AFS:
Due in one year or less	$	1,370	$	1,387
Due after one year through five years		15,804		16,131
Due after five years		82,056		84,418
		99,230		101,936
Residential mortgage-backed and related securities		116,768		122,853
Asset-backed securities		31,076		28,499
	$	247,074	$	253,288

Schedule of investment in callable securities

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Municipal securities	$	199,843	$	201,706
Securities AFS:
Municipal securities		47,044		48,483
Other securities		18,550		18,802
	$	65,594	$	67,285