XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.20.2

Securities | 6 Months Ended
--- | ---
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract] |
Securities | Note 4. Securities The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale are summarized as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Value
June 30, 2020: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Government-sponsored enterprises (GSEs) | ​ | $ | 31,337 | ​ | $ | 82 | ​ | $ | (8) | ​ | $ | 31,411
Municipal securities | ​ |  | 86,469 | ​ |  | 1,716 | ​ |  | (16) | ​ |  | 88,169
Other debt securities | ​ |  | 9,463 | ​ |  | 38 | ​ |  | (44) | ​ |  | 9,457
Mortgage-backed securities (GSEs) | ​ |  | 88,913 | ​ |  | 2,034 | ​ |  | (353) | ​ |  | 90,594
Total | ​ | $ | 216,182 | ​ | $ | 3,870 | ​ | $ | (421) | ​ | $ | 219,631
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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
Total | ​ | $ | 177,819 | ​ | $ | 1,063 | ​ | $ | (534) | ​ | $ | 178,348
​ At June 30, 2020, and December 31, 2019, securities with a carrying value totaling approximately $79.5 million and $92.3 million, respectively, were pledged to secure public funds and securities sold under agreements to repurchase. Proceeds from sale of securities available for sale, gross gains and gross losses on sales and redemptions for the three and six months ended June 30, 2020 and 2019 were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | ​ | Six Months Ended
​ | ​ | June 30, |  | ​ | June 30,
​ | ​ | 2020 |  | 2019 |  | ​ | 2020 |  | 2019
Proceeds from sales | ​ | $ | 4,760 | ​ | $ | 13,342 | ​ | ​ | $ | 6,875 | ​ | $ | 16,515
Gross gains | ​ | $ | 16 | ​ | $ | 34 | ​ | ​ | $ | 16 | ​ | $ | 34
Gross losses | ​ | $ | - | ​ | $ | (1) | ​ | ​ | $ | - | ​ | $ | (1)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from redemptions | ​ | $ | 12,200 | ​ | $ | 5,000 | ​ | ​ | $ | 15,450 | ​ | $ | 10,305
​ The amortized cost and estimated fair value of securities at June 30, 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 |  | Fair
​ | ​ | Cost | ​ | Value
Due in one year or less | ​ | $ | 440 | ​ | $ | 443
Due from one year to five years | ​ |  | 3,874 | ​ |  | 3,872
Due from five years to ten years | ​ |  | 32,291 | ​ |  | 32,540
Due after ten years | ​ |  | 90,664 | ​ |  | 92,182
​ | ​ |  | 127,269 | ​ |  | 129,037
Mortgage-backed securities | ​ |  | 88,913 | ​ |  | 90,594
Total | ​ | $ | 216,182 | ​ | $ | 219,631
​ 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
​ |  | ​ | ​ |  | Gross |  | ​ | ​ |  | Gross |  | ​ | ​ |  | Gross
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
​ | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses
June 30, 2020: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Government-sponsored enterprises (GSEs) | ​ | $ | 6,583 | ​ | $ | (8) | ​ | $ | — | ​ | $ | — | ​ | $ | 6,583 | ​ | $ | (8)
Municipal securities | ​ |  | 3,546 | ​ |  | (16) | ​ |  | — | ​ |  | — | ​ |  | 3,546 | ​ |  | (16)
Other debt securities | ​ |  | 1,966 | ​ |  | (14) | ​ |  | 953 | ​ |  | (30) | ​ |  | 2,919 | ​ |  | (44)
Mortgage-backed securities (GSEs) | ​ |  | 14,209 | ​ |  | (143) | ​ |  | 11,222 | ​ |  | (210) | ​ |  | 25,431 | ​ |  | (353)
Total | ​ | $ | 26,304 | ​ | $ | (181) | ​ | $ | 12,175 | ​ | $ | (240) | ​ | $ | 38,479 | ​ | $ | (421)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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)
Total | ​ | $ | 19,836 | ​ | $ | (253) | ​ | $ | 27,449 | ​ | $ | (281) | ​ | $ | 47,285 | ​ | $ | (534)
​ At June 30, 2020, the categories of temporarily impaired securities in an unrealized loss position twelve months or greater are as follows (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Gross |  | ​
​ | ​ | Unrealized | ​ | Number of
​ | ​ | Loss | ​ | Securities
U.S. Government- sponsored enterprises (GSEs) | ​ | $ | — |  | —
Municipal securities | ​ |  | — |  | —
Other debt securities | ​ |  | (30) |  | 1
Mortgage-backed securities (GSEs) | ​ |  | (210) |  | 10
Total | ​ | $ | (240) |  | 11
​ The Company reviews the securities portfolio on a quarterly basis to monitor its exposure to other-than-temporary impairment. A determination as to whether a security’s decline in fair value is other-than-temporary takes into consideration numerous factors and the relative significance of any single factor can vary by security. Some factors the Company may consider in the other-than-temporary impairment analysis include the length of time and extent to which the security has been in an unrealized loss position, changes in security ratings, financial condition and near-term prospects of the issuer, as well as security and industry specific economic conditions. Based on this evaluation, the Company concluded that any unrealized losses at June 30, 2020, represented a temporary impairment, as these unrealized losses are primarily attributable to changes in interest rates and current market conditions, and not credit deterioration of the issuers. As of June 30, 2020, the Company does not intend to sell any of the securities, does not expect to be required to sell any of the securities, and expects to recover the entire amortized cost of all of the securities. The following is the amortized cost and carrying value of other investments (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ |  | 2020 |  | 2019
Federal Reserve Bank stock | ​ | $ | 8,641 |  | $ | 7,917
Federal Home Loan Bank stock | ​ |  | 5,838 |  | ​ | 4,646
First National Bankers Bank stock | ​ |  | 350 |  | ​ | 350
Total | ​ | $ | 14,829 | ​ | $ | 12,913
​ Our restricted investments consist of non-marketable equity securities that have no readily determinable market value. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value. As of June 30, 2020, the Company determined that there was no impairment on its other investments.

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