Quarterly report pursuant to Section 13 or 15(d)

Investment Securities (Tables)

v3.21.1
Investment Securities (Tables)
3 Months Ended
Mar. 31, 2021
Investments Debt And Equity Securities [Abstract]  
Schedule of Fair Values of Securities Available for Sale

The amortized cost, gross unrealized gains and losses and approximate fair values of securities available for sale are as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Fair

 

March 31, 2021

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

-

 

 

$

-

 

 

 

 

 

$

-

 

State and municipal obligations

 

 

34,541

 

 

 

71

 

 

 

203

 

 

 

34,409

 

Residential mortgage-backed securities

 

 

370,937

 

 

 

5

 

 

 

6,233

 

 

 

364,709

 

Corporate Bonds

 

 

42,745

 

 

 

848

 

 

 

135

 

 

 

43,458

 

Total available for sale

 

$

448,223

 

 

$

924

 

 

$

6,571

 

 

$

442,576

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Fair

 

December 31, 2020

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

36,258

 

 

$

927

 

 

$

-

 

 

$

37,185

 

Residential mortgage-backed securities

 

 

132,130

 

 

 

278

 

 

 

267

 

 

 

132,142

 

Corporate bonds and other debt securities

 

 

42,768

 

 

 

433

 

 

 

109

 

 

 

43,093

 

Total available for sale

 

$

211,156

 

 

$

1,638

 

 

$

376

 

 

$

212,420

 

Schedule of Securities Available for Sale by Contractual Maturity

The amortized cost and estimated fair value of securities available for sale, by contractual maturity, are as follows for the period presented:

 

 

 

Amortized

 

 

Fair

 

March 31, 2021

 

Cost

 

 

Value

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

Due in one year or less

 

$

317

 

 

$

318

 

Due after one year through five years

 

 

9,471

 

 

 

9,555

 

Due after five years through ten years

 

 

31,021

 

 

 

31,687

 

Due after ten years

 

 

36,477

 

 

 

36,307

 

Residential mortgage-backed securities

 

 

370,937

 

 

 

364,709

 

Total available for sale

 

$

448,223

 

 

$

442,576

 

Schedule of Investment Securities Available for Sale and Aggregated by Investment Category and Length of Time Individual Securities in Continuous Unrealized Loss Position

The following tables present the estimated fair values and gross unrealized losses on investment securities available for sale, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position as of the periods presented:

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

March 31, 2021

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

State and municipal obligations

 

 

20,837

 

 

 

203

 

 

 

 

 

 

 

 

 

20,837

 

 

 

203

 

Residential mortgage-backed securities

 

 

332,775

 

 

 

6,233

 

 

 

 

 

 

 

 

 

332,775

 

 

 

6,233

 

Corporate Bonds

 

 

3,637

 

 

 

135

 

 

 

 

 

 

 

 

 

3,637

 

 

 

135

 

Total available for sale

 

$

357,249

 

 

$

6,571

 

 

$

 

 

$

 

 

$

357,249

 

 

$

6,571

 

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

December 31, 2020

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

 

(Dollars in thousands)

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

 

 

$

 

 

$

 

 

$

 

 

$

-

 

 

$

-

 

State and municipal obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage-backed securities

 

 

53,598

 

 

 

267

 

 

 

 

 

 

 

 

 

53,598

 

 

 

267

 

Corporate bonds and other debt securities

 

 

17,087

 

 

 

109

 

 

 

 

 

 

 

 

 

17,087

 

 

 

109

 

Total available for sale

 

$

70,685

 

 

$

376

 

 

$

-

 

 

$

-

 

 

$

70,685

 

 

$

376