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Investment in Securities (Tables)

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities

	September 30, 2019
(In thousands)	Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value
State and political subdivisions	$	312,826		$	13,680		$	—		$	326,506
U.S. government agencies		99,813			516			244			100,085
Certificates of deposit		1,000			—			—			1,000
Total	$	413,639		$	14,196		$	244		$	427,591

	December 31, 2018
(In thousands)	Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value
State and political subdivisions	$	332,732		$	3,791		$	1,806		$	334,717
U.S. government agencies		106,153			86			1,417			104,822
Certificates of deposit		1,995			—			—			1,995
Total	$	440,880		$	3,877		$	3,223		$	441,534

Schedule of the Fair Value of Securities with Unrealized Losses

The fair values of securities with unrealized losses are as follows:

	September 30, 2019
	Less than 12 months						12 months or more						Total
(In thousands)	Estimated Fair Value			Unrealized Losses			Estimated Fair Value			Unrealized Losses			Estimated Fair Value			Unrealized Losses
State and political subdivisions	$	1,117		$	1		$	—		$	—		$	1,117		$	1
U.S. government agencies		5,967			18			25,809			225			31,776			243
Total	$	7,084		$	19		$	25,809		$	225		$	32,893		$	244

	December 31, 2018
	Less than 12 months						12 months or more						Total
(In thousands)	Estimated Fair Value			Unrealized Losses			Estimated Fair Value			Unrealized Losses			Estimated Fair Value			Unrealized Losses
State and political subdivisions	$	91,248		$	556		$	60,546		$	1,250		$	151,794		$	1,806
U.S. government agencies		30,409			130			38,005			1,287			68,414			1,417
Total	$	121,657		$	686		$	98,551		$	2,537		$	220,208		$	3,223

Schedule of Amortized Cost and Fair Value of Investment

The amortized cost and fair value of investment securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties.

	September 30, 2019
(In thousands)	Amortized Cost			Fair Value
Due in 1 year or less	$	35,337		$	35,489
Due after 1 year through 5 years		106,384			108,511
Due after 5 years through 10 years		230,729			242,078
Due after 10 years		41,189			41,513
Total	$	413,639		$	427,591

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- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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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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