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Securities (Tables)

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-For-Sale Securities Reconciliation

The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale are summarized as follows (in thousands): 

						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
March 31, 2020:
U.S. Government-sponsored enterprises (GSEs)						$	17,012					$	96					$	(63)					$	17,045
Municipal securities						82,599						970						(252)						83,317
Other debt securities						5,461						129						(128)						5,462
Mortgage-backed securities (GSEs)						94,306						1,482						(610)						95,178
						$	199,378					$	2,677					$	(1,053)					$	201,002

December 31, 2019:
U.S. Government-sponsored enterprises (GSEs)						$	19,015					$	41					$	(56)					$	19,000
Municipal securities						63,792						618						(19)						64,391
Other debt securities						3,481						22						(33)						3,470
Mortgage-backed securities (GSEs)						91,531						382						(426)						91,487
						$	177,819					$	1,063					$	(534)					$	178,348

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair value of securities at March 31, 2020, 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						$	8,491					$	8,440
Due from one year to five years						5,177						5,182
Due from five years to ten years						19,145						19,254
Due after ten years						72,258						72,947
						105,071						105,823
Mortgage-backed securities						94,307						95,179
						$	199,378					$	201,002

Schedule of Unrealized Loss on Investments

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 (in thousands): 

						Less than 12 Months																		12 Months or Greater																		Total
						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses
March 31, 2020:
U.S. Government- sponsored enterprises (GSEs)						$	696					$	(63)					$	—					$	—					$	696					$	(63)
Municipal securities						16,370						(250)						527						(2)						16,897						(252)
Other debt securities						1,970						(10)						863						(118)						2,833						(128)
Mortgage-backed securities (GSEs)						29,967						(425)						7,125						(185)						37,092						(610)
						$	49,003					$	(748)					$	8,515					$	(305)					$	57,518					$	(1,053)

						Less than 12 Months																		12 Months or Greater																		Total
						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses
December 31, 2019:
U.S. Government- sponsored enterprises (GSEs)						$	2,972					$	(43)					$	5,987					$	(13)					$	8,959					$	(56)
Municipal securities						3,656						(16)						527						(3)						4,183						(19)
Other debt securities						—						—						947						(33)						947						(33)
Mortgage-backed securities (GSEs)						13,208						(194)						19,988						(232)						33,196						(426)
						$	19,836					$	(253)					$	27,449					$	(281)					$	47,285					$	(534)

Schedule of Temporarily Impaired Securities

At March 31, 2020, the categories of temporarily impaired securities in an unrealized loss position twelve months or greater are as follows (dollars in thousands):

						Gross Unrealized Loss						Number of Securities
U.S. Government-sponsored enterprises (GSEs)						$	—					—
Municipal securities						(2)						1
Other debt securities						(118)						1
Mortgage-backed securities (GSEs)						(185)						11
						$	(305)					13

Schedule of Other Investments

The following is the amortized cost and carrying value of other investments (in thousands):

			March 31,						December 31,
			2020						2019
Federal Reserve Bank stock			$	7,925					$	7,917
Federal Home Loan Bank stock			5,838						4,646
First National Bankers Bank stock			350						350
			$	14,113					$	12,913

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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

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