NOTE 2 - INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2021

Notes Tables

Amortized cost and fair value of investment securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost*		Gains		(Losses)		Value
	(dollars in thousands)
June 30, 2021:
Securities HTM:
Municipal securities	$	472,283	$	50,129	$	(20)	$	522,392
Other securities		1,050		—		—		1,050
	$	473,333	$	50,129	$	(20)	$	523,442
Securities AFS:
U.S. govt. sponsored agency securities	$	14,310	$	504	$	(144)	$	14,670
Residential mortgage-backed and related securities		102,625		4,094		(581)		106,138
Municipal securities		163,607		5,861		(148)		169,320
Asset-backed securities		30,707		1,072		—		31,779
Other securities		15,139		250		(10)		15,379
	$	326,388	$	11,781	$	(883)	$	337,286

			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)
June 30, 2021:
Securities HTM:
Municipal securities	$	14,440	$	(20)	$	—	$	—	$	14,440	$	(20)
Securities AFS:
U.S. govt. sponsored agency securities	$	3,067	$	(144)	$	—	$	—	$	3,067	$	(144)
Residential mortgage-backed and related securities		26,967		(580)		153		(1)		27,120		(581)
Municipal securities		13,608		(148)		—		—		13,608		(148)
Other securities		4,207		(10)		—		—		4,207		(10)
	$	47,849	$	(882)	$	153	$	(1)	$	48,002	$	(883)

	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 June 30, 2021						Six Months Ended June 30, 2021
	Municipal		Other				Municipal		Other
	securities		securities		Total		securities		securities		Total
Allowance for credit losses:
Beginning balance	$	173	$	1	$	174	$	—	$	—	$	—
Impact of adopting ASU 2016-13		—		—		—		182		1		183
Provision for credit loss expense		—		—		—		(9)		—		(9)
Balance, ending	$	173	$	1	$	174	$	173	$	1	$	174

Realized gain (loss) on investments

	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
		(dollars in thousands)
Proceeds from sales of securities	$	4,334	$	6,327	$	23,874	$	6,327
Gross gains from sales of securities		—		134		—		134
Gross losses from sales of securities		(88)		(69)		(88)		(69)

Investments classified by maturity date

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Due in one year or less	$	2,882	$	2,910
Due after one year through five years		29,592		30,281
Due after five years		440,859		490,251
	$	473,333	$	523,442
Securities AFS:
Due in one year or less	$	1,471	$	1,492
Due after one year through five years		11,927		12,175
Due after five years		179,658		185,702
		193,056		199,369
Residential mortgage-backed and related securities		102,625		106,139
Asset-backed securities		30,707		31,778
	$	326,388	$	337,286

Schedule of investment in callable securities

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Municipal securities	$	272,039	$	283,607
Securities AFS:
Municipal securities		158,149		163,595
Other securities		15,139		15,379
	$	173,288	$	178,974