Note 2 - INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021:
Securities HTM:
Municipal securities	$	452,076	$	38,312	$	(91)	$	490,297
Other securities		1,050		—		—		1,050
	$	453,126	$	38,312	$	(91)	$	491,347
Securities AFS:
U.S. govt. sponsored agency securities	$	14,494	$	352	$	(265)	$	14,581
Residential mortgage-backed and related securities		115,230		3,742		(920)		118,052
Municipal securities		160,703		3,492		(1,622)		162,573
Asset-backed securities		38,620		1,197		(2)		39,815
Other securities		11,679		173		—		11,852
	$	340,726	$	8,956	$	(2,809)	$	346,873

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
	(dollars in thousands)
December 31, 2020:
Securities HTM:
Municipal securities	$	475,115	$	45,360	$	(248)	$	520,227
Other securities		1,050		—		—		1,050
	$	476,165	$	45,360	$	(248)	$	521,277
Securities AFS:
U.S. govt. sponsored agency securities	$	14,936	$	447	$	(47)	$	15,336
Residential mortgage-backed and related securities		127,670		5,510		(338)		132,842
Municipal securities		147,241		5,215		(48)		152,408
Asset-backed securities		39,663		1,111		(91)		40,683
Other securities		20,550		147		—		20,697
	$	350,060	$	12,430	$	(524)	$	361,966

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, 2021:
Securities HTM:
Municipal securities	$	—	$	—	$	8,019	$	(91)	$	8,019	$	(91)
Securities AFS:
U.S. govt. sponsored agency securities	$	2,963	$	(265)	$	—	$	—	$	2,963	$	(265)
Residential mortgage-backed and related securities		35,721		(919)		157		(1)		35,878		(920)
Municipal securities		68,407		(1,622)		—		—		68,407		(1,622)
Asset-backed securities		—		—		1,998		(2)		1,998		(2)
	$	107,091	$	(2,806)	$	2,155	$	(3)	$	109,246	$	(2,809)

	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, 2020:
Securities HTM:
Municipal securities	$	8,407	$	(248)	$	—	$	—	$	8,407	$	(248)
Securities AFS:
U.S. govt. sponsored agency securities	$	3,199	$	(47)	$	—	$	—	$	3,199	$	(47)
Residential mortgage-backed and related securities		37,549		(338)		—		—		37,549		(338)
Municipal securities		10,110		(48)		—		—		10,110		(48)
Asset-backed securities		6,884		(52)		9,945		(39)		16,829		(91)
	$	57,742	$	(485)	$	9,945	$	(39)	$	67,687	$	(524)

Activity in allowance for credit losses

	Three Months Ended March 31, 2021
		Municipal securities		Other securities		Total
	(dollars in thousands)
Allowance for credit losses:
Beginning balance		$	—	$	—	$	—
Impact of adopting ASU 2016-13			182		1		183
Provision for credit loss expense			(9)		—		(9)
Balance, ending		$	173	$	1	$	174

Investments classified by maturity date

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Due in one year or less	$	3,592	$	3,611
Due after one year through five years		32,784		33,424
Due after five years		416,750		454,312
	$	453,126	$	491,347
Securities AFS:
Due in one year or less	$	2,152	$	2,182
Due after one year through five years		12,888		13,175
Due after five years		171,836		173,649
		186,876		189,006
Residential mortgage-backed and related securities		115,230		118,052
Asset-backed securities		38,620		39,815
	$	340,726	$	346,873

Schedule of investment in callable securities

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Municipal securities	$	246,515	$	255,969
Securities AFS:
Municipal securities		154,432		156,016
Other securities		11,679		11,852
	$	166,111	$	167,868