XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Securities | 9 Months Ended
--- | ---
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract] |
Securities | Securities The amortized cost and fair value of securities available-for-sale at September 30, 2018 and December 31, 2017 are summarized as follows (in thousands):
|  | September 30, 2018
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Government-sponsored enterprises (GSEs) |  | $ | 29,127 |  |  | $ | — |  |  | $ | (1,143 | ) |  | $ | 27,984 |
Municipal securities |  | 40,438 |  |  | 4 |  |  | (829 | ) |  | 39,613 |
Other debt securities |  | 976 |  |  | — |  |  | (52 | ) |  | 924 |
Mortgage-backed securities (GSEs) |  | 107,374 |  |  | 168 |  |  | (3,024 | ) |  | 104,518 |
|  | $ | 177,915 |  |  | $ | 172 |  |  | $ | (5,048 | ) |  | $ | 173,039 |
|  | December 31, 2017
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Government-sponsored enterprises (GSEs) |  | $ | 26,207 |  |  | $ | 1 |  |  | $ | (432 | ) |  | $ | 25,776 |
Municipal securities |  | 9,122 |  |  | 28 |  |  | (147 | ) |  | 9,003 |
Other debt securities |  | 974 |  |  | — |  |  | (24 | ) |  | 950 |
Mortgage-backed securities (GSEs) |  | 117,263 |  |  | 136 |  |  | (1,184 | ) |  | 116,215 |
|  | $ | 153,566 |  |  | $ | 165 |  |  | $ | (1,787 | ) |  | $ | 151,944 |
At September 30, 2018 and December 31, 2017, securities with a fair value totaling approximately $109.5 million and $97.2 million, respectively were pledged to secure public funds and securities sold under agreements to repurchase. Note 4. Securities, Continued For the three months ended September 30, 2018, there were no available-for-sale securities sold. For the nine months ended September 30, 2018, a security was called for less than the amortized cost resulting in a realized loss of $1,200. For the three and nine months ended September 30, 2017, there were available-for-sale securities sold with proceeds totaling $12,363,748 which resulted in gross gains realized of $145,288 and gross losses realized of $1,780. The amortized cost and estimated fair value of securities at September 30, 2018, by contractual maturity for non-mortgage backed securities, are shown below (in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | Amortized Cost |  | Fair Value
Due in one year or less |  | $ | — |  |  | $ | — |
Due from one year to five years |  | 21,555 |  |  | 20,879 |
Due from five years to ten years |  | 14,608 |  |  | 13,817 |
Due after ten years |  | 34,378 |  |  | 33,825 |
|  | 70,541 |  |  | 68,521 |
Mortgage-backed securities |  | 107,374 |  |  | 104,518 |
|  | $ | 177,915 |  |  | $ | 173,039 |
The following tables present the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities available-for-sale have been in a continuous unrealized loss position, as of September 30, 2018 and December 31, 2017 (in thousands):
|  | As of September 30, 2018
|  | Less than 12 Months |  | 12 Months or Greater |  | Total
|  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. Government- sponsored enterprises (GSEs) |  | $ | 14,425 |  |  | $ | (575 | ) |  | $ | 13,559 |  |  | $ | (568 | ) |  | $ | 27,984 |  |  | $ | (1,143 | )
Municipal securities |  | 31,075 |  |  | (648 | ) |  | 2,559 |  |  | (181 | ) |  | 33,634 |  |  | (829 | )
Other debt securities |  | — |  |  | — |  |  | 924 |  |  | (52 | ) |  | 924 |  |  | (52 | )
Mortgage-backed securities (GSEs) |  | 49,185 |  |  | (1,713 | ) |  | 32,074 |  |  | (1,311 | ) |  | 81,259 |  |  | (3,024 | )
|  | $ | 94,685 |  |  | $ | (2,936 | ) |  | $ | 49,116 |  |  | $ | (2,112 | ) |  | $ | 143,801 |  |  | $ | (5,048 | )
|  | As of December 31, 2017
|  | Less than 12 Months |  | 12 Months or Greater |  | Total
|  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. Government- sponsored enterprises (GSEs) |  | $ | 1,358 |  |  | $ | (1 | ) |  | $ | 13,420 |  |  | $ | (431 | ) |  | $ | 14,778 |  |  | $ | (432 | )
Municipal securities |  | 3,418 |  |  | (43 | ) |  | 2,112 |  |  | (104 | ) |  | 5,530 |  |  | (147 | )
Other debt securities |  | 950 |  |  | (24 | ) |  | — |  |  | — |  |  | 950 |  |  | (24 | )
Mortgage-backed securities (GSEs) |  | 61,332 |  |  | (407 | ) |  | 35,048 |  |  | (777 | ) |  | 96,380 |  |  | (1,184 | )
|  | $ | 67,058 |  |  | $ | (475 | ) |  | $ | 50,580 |  |  | $ | (1,312 | ) |  | $ | 117,638 |  |  | $ | (1,787 | )
Note 4. Securities, Continued At September 30, 2018, the categories of temporarily impaired securities, and management’s evaluation of those securities, are as follows: U.S. Government-sponsored enterprises: At September 30, 2018, 8 (or eight) investments in U.S. GSE securities had unrealized losses. These unrealized losses related principally to changes in market interest rates. The contractual terms of the investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Bank does not intend to sell the investments and it is more likely than not that the Bank will not be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider these investments to be other-than temporarily impaired at September 30, 2018. Municipal securities: At September 30, 2018, 32 investments in obligations of municipal securities had unrealized losses. The Bank believes the unrealized losses on those investments were caused by the interest rate environment and do not relate to the underlying credit quality of the issuers. Because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider these investments to be other-than temporarily impaired at September 30, 2018. Other debt securities: At September 30, 2018, 1 (or one) investment in other debt securities had unrealized losses. The Bank believes the unrealized loss on this investment was caused by the interest rate environment and does not relate to the underlying credit quality of the issuer. Because the Bank does not intend to sell the investment and it is not more likely than not that the Bank will be required to sell the investment before recovery of its amortized cost bases, which may be maturity, the Bank does not consider this investment to be other-than temporarily impaired at September 30, 2018. Mortgage-backed securities: At September 30, 2018, 66 investments in residential mortgage-backed securities had unrealized losses. This impairment is believed to be caused by the current interest rate environment. The contractual cash flows of those investments are guaranteed by an agency of the U.S. Government. Because the decline in market value is attributable to the current interest rate environment and not credit quality, and because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not deem these investments to be other-than-temporarily impaired at September 30, 2018.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration