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Securities (Tables)

6 Months Ended

Jun. 30, 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):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

​

Proceeds from sale of securities available for sale, gains losses and proceeds from redemption

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

Investments Classified by Contractual Maturity Date

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

​

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

​

​

​

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)

​

Schedule of Temporarily Impaired Securities

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

​

Schedule of Other Investments

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

​

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The schedule related to debt securities available for sale related to proceeds, gains and losses and proceeds from redemption.

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Tabular disclosure of investments in an unrealized loss position 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), including: (a) the aggregate related fair value of investments with unrealized losses, (b) the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
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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).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
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