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Securities (Tables)

12 Months Ended

Dec. 31, 2019

Securities [Abstract]

Amortized Cost and Fair Value of Available-for-sale Securities

The amortized cost and fair value of debt securities at December 31, 2019 are summarized as follows:

Available-for-Sale

(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S. Treasury and government agencies		$	171,250			$	476			$	(576	)		$	171,150
State and political subdivisions			99,403				2,941				(37	)			102,307
U.S. government sponsored agency mortgage-backed securities			291,874				4,443				(1,072	)			295,245
Other debt securities			31,418				0				(276	)			31,142
Total available-for-sale securities		$	593,945			$	7,860			$	(1,961	)		$	599,844

The amortized cost and fair value of debt securities at December 31, 2018 are summarized as follows:

Available-for-Sale

(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S. Treasury and government agencies		$	219,358			$	48			$	(1,468	)		$	217,938
State and political subdivisions			126,280				633				(2,425	)			124,488
U.S. government sponsored agency mortgage-backed securities			255,969				397				(5,547	)			250,819
Other debt securities			507				0				(6	)			501
Total available-for-sale securities		$	602,114			$	1,078			$	(9,446	)		$	593,746

Amortized Cost and Fair Value of Held-to-maturity Securities

Held-to-Maturity

(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
State and political subdivisions		$	517			$	0			$	0			$	517
Total held-to-maturity securities		$	517			$	0			$	0			$	517

Held-to-Maturity

(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
State and political subdivisions		$	649			$	0			$	0			$	649
Total held-to-maturity securities		$	649			$	0			$	0			$	649

Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

The amortized cost and fair value of debt securities at December 31, 2019 by contractual maturity are shown below.  Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

		Available-for-Sale								Held-to-Maturity
(in thousands)		Amortized Cost				Fair Value				Amortized Cost				Fair Value
Due in one year or less		$	84,795			$	85,107			$	517			$	517
Due after one through five years			23,605				23,963				0				0
Due after five through ten years			91,043				91,175				0				0
Due after ten years			71,210				73,212				0				0
U.S. government sponsored agency mortgage-backed securities			291,874				295,245				0				0
Other debt securities			31,418				31,142				0				0
Total debt securities		$	593,945			$	599,844			$	517			$	517

Available for Sale Securities and Held-to-Maturity Securities, Continuous Unrealized Loss Position

The following tables provide the amortized cost, gross unrealized losses, and fair market value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31, 2019 that are not deemed to be other-than-temporarily impaired.  There were no held-to-maturity securities that were deemed to be impaired as of December 31, 2019.

Available-for-Sale

(in thousands)		Amortized Cost				Gross Unrealized Losses				Fair Value
Less Than 12 Months
U.S. Treasury and government agencies		$	25,955			$	(148	)		$	25,807
State and political subdivisions			8,356				(37	)			8,319
U.S. government sponsored agency mortgage-backed securities			19,317				(100	)			19,217
Other debt securities			31,418				(276	)			31,142
Total <12 months temporarily impaired AFS securities			85,046				(561	)			84,485
12 Months or More
U.S. Treasury and government agencies			82,339				(428	)			81,911
State and political subdivisions			0				0				0
U.S. government sponsored agency mortgage-backed securities			91,609				(972	)			90,637
Other debt securities			0				0				0
Total ≥12 months temporarily impaired AFS securities			173,948				(1,400	)			172,548
Total
U.S. Treasury and government agencies			108,294				(576	)			107,718
State and political subdivisions			8,356				(37	)			8,319
U.S. government sponsored agency mortgage-backed securities			110,926				(1,072	)			109,854
Other debt securities			31,418				(276	)			31,142
Total temporarily impaired AFS securities		$	258,994			$	(1,961	)		$	257,033

The following tables provide the amortized cost, gross unrealized losses, and fair market value, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31, 2018 that are not deemed to be other-than-temporarily impaired.  There were no held-to-maturity securities that were deemed to be impaired as of December 31, 2018.

Available-for-Sale

(in thousands)		Amortized Cost				Gross Unrealized Losses				Fair Value
Less Than 12 Months
U.S. Treasury and government agencies		$	78,905			$	(271	)		$	78,634
State and political subdivisions			21,707				(194	)			21,513
U.S. government sponsored agency mortgage-backed securities			61,940				(377	)			61,563
Other debt securities			507				(6	)			501
Total <12 months temporarily impaired AFS securities			163,059				(848	)			162,211
12 Months or More
U.S. Treasury and government agencies			97,955				(1,197	)			96,758
State and political subdivisions			51,911				(2,231	)			49,680
U.S. government sponsored agency mortgage-backed securities			147,658				(5,170	)			142,488
Other debt securities			0				0				0
Total ≥12 months temporarily impaired AFS securities			297,524				(8,598	)			288,926
Total
U.S. Treasury and government agencies			176,860				(1,468	)			175,392
State and political subdivisions			73,618				(2,425	)			71,193
U.S. government sponsored agency mortgage-backed securities			209,598				(5,547	)			204,051
Other debt securities			507				(6	)			501
Total temporarily impaired AFS securities		$	460,583			$	(9,446	)		$	451,137

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- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563

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+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
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