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NOTE 5: INVESTMENT SECURITIES: Investment, Policy (Policies)
3 Months Ended
Mar. 31, 2020
Policies  
Investment, Policy

There were no securities classified as held to maturity at March 31, 2020 or December 31, 2019.

 

Certain investments in debt securities are reported in the financial statements at an amount less than their historical cost. Total fair value of these investments at March 31, 2020 and December 31, 2019, was approximately $9.7 million and $116.2 million, respectively, which is approximately 2.5% and 31.1% of the Company’s available-for-sale investment portfolio, respectively.

 

Based on an evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings, management believes the declines in fair value for these debt securities are temporary.