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Investment securities (Tables) | 3 Months Ended
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Mar. 31, 2020
Schedule of amortized cost and fair value of investment securities aggregated by investment category |
|  |  |  |  | Gross |  | Gross |  |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair |
March 31, 2020 |  | Cost |  | Gains |  | Losses |  | Value |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 21,471 |  | $ | 650 |  |  |  |  | $ | 22,121 |
U.S. government-sponsored enterprises |  |  | 83,028 |  |  | 1,562 |  |  |  |  |  | 84,590 |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  | 32,116 |  |  | 772 |  | $ | 328 |  |  | 32,560 |
Tax-exempt |  |  | 38,392 |  |  | 1,596 |  |  | 8 |  |  | 39,980 |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  |  | 7,125 |  |  | 178 |  |  | 3 |  |  | 7,300 |
U.S. government-sponsored enterprises |  |  | 98,880 |  |  | 4,143 |  |  | 3 |  |  | 103,020 |
Commercial mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored enterprises |  |  | 12,675 |  |  | 638 |  |  |  |  |  | 13,313 |
Total |  | $ | 293,687 |  | $ | 9,539 |  | $ | 342 |  | $ | 302,884 |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt state and municipals |  | $ | 6,851 |  | $ | 153 |  | $ | 15 |  | $ | 6,989 |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  |  | 28 |  |  |  |  |  |  |  |  | 28 |
U.S. government-sponsored enterprises |  |  | 641 |  |  | 30 |  |  | 1 |  |  | 670 |
Total |  | $ | 7,520 |  | $ | 183 |  | $ | 16 |  | $ | 7,687 |
|  |  |  |  | Gross |  | Gross |  |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair |
December 31, 2019 |  | Cost |  | Gains |  | Losses |  | Value |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 23,966 |  |  | 162 |  | $ |  |  | $ | 24,128 |
U.S. government-sponsored enterprises |  |  | 87,156 |  | $ | 181 |  |  | 227 |  |  | 87,110 |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  | 35,418 |  |  | 295 |  |  | 815 |  |  | 34,898 |
Tax-exempt |  |  | 59,127 |  |  | 1,056 |  |  | 20 |  |  | 60,163 |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  |  | 8,368 |  |  | 112 |  |  | 10 |  |  | 8,470 |
U.S. government-sponsored enterprises |  |  | 101,914 |  |  | 1,011 |  |  | 77 |  |  | 102,848 |
Commercial mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government-sponsored enterprises |  |  | 12,694 |  |  | 171 |  |  | 4 |  |  | 12,861 |
Total |  | $ | 328,643 |  | $ | 2,988 |  | $ | 1,153 |  | $ | 330,478 |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt state and municipals |  | $ | 6,852 |  | $ | 208 |  | $ |  |  | $ | 7,060 |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  |  | 31 |  |  |  |  |  |  |  |  | 31 |
U.S. government-sponsored enterprises |  |  | 773 |  |  | 25 |  |  |  |  |  | 798 |
Total |  | $ | 7,656 |  | $ | 233 |  | $ |  |  | $ | 7,889 |
Schedule of fair value and unrealized losses of investment securities in continuous unrealized loss position |
|  | Less Than 12 Months |  | 12 Months or More |  | Total |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
March 31, 2020 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  | $ | 8,632 |  | $ | 328 |  |  |  |  |  |  |  | $ | 8,632 |  | $ | 328 |
Tax-exempt |  |  | 3,149 |  |  | 23 |  |  |  |  |  |  |  |  | 3,149 |  |  | 23 |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  |  |  |  |  |  |  | $ | 1,133 |  | $ | 3 |  |  | 1,133 |  |  | 3 |
U.S. government-sponsored enterprises |  |  | 22 |  |  | 1 |  |  | 747 |  |  | 3 |  |  | 769 |  |  | 4 |
Total |  | $ | 11,803 |  | $ | 352 |  | $ | 1,880 |  | $ | 6 |  | $ | 13,683 |  | $ | 358 |
|  | Less Than 12 Months |  | 12 Months or More |  | Total |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
December 31, 2019 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses |
U.S. government-sponsored enterprises |  | $ | 13,695 |  | $ | 149 |  | $ | 36,070 |  | $ | 78 |  | $ | 49,765 |  | $ | 227 |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  | 23,929 |  |  | 815 |  |  |  |  |  |  |  |  | 23,929 |  |  | 815 |
Tax-exempt |  |  | 2,684 |  |  | 19 |  |  | 1,098 |  |  | 1 |  |  | 3,782 |  |  | 20 |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  |  | 992 |  |  | 1 |  |  | 2,362 |  |  | 9 |  |  | 3,354 |  |  | 10 |
U.S. government-sponsored enterprises |  |  | 36,939 |  |  | 51 |  |  | 3,751 |  |  | 30 |  |  | 40,690 |  |  | 81 |
Total |  | $ | 78,239 |  | $ | 1,035 |  | $ | 43,281 |  | $ | 118 |  | $ | 121,520 |  | $ | 1,153 |
Summary of unrealized and realized gains and losses | The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three months ended March 31 2020 (in thousands):
For the Three Months Ended March 31, |  |  | 2020 |  |  | 2019
Net (loss) gains recognized during the period on equity securities |  | $ | (123) |  | $ | 1
Less: Net gains (loss) recognized during the period on equity securities sold during the period |  |  |  |  |  |
Unrealized (loss) gain recognized during the reporting period on equity securities still held at the reporting date |  | $ | (123) |  | $ | 1
Available-for-Sale Securities. |
Schedule of maturity distribution of fair value |
|  | Fair |
March 31, 2020 |  | Value |
Within one year |  | $ | 37,800 |
After one but within five years |  |  | 79,696 |
After five but within ten years |  |  | 18,995 |
After ten years |  |  | 39,313 |
|  |  | 175,804 |
Mortgage-backed and other amortizing securities |  |  | 127,080 |
Total |  | $ | 302,884 |
Held-to-maturity Securities. |
Schedule of maturity distribution of fair value |
|  | Amortized |  | Fair |
March 31, 2020 |  | Cost |  | Value |
After ten years |  | $ | 6,851 |  | $ | 6,989 |
|  |  | 6,851 |  |  | 6,989 |
Mortgage-backed securities |  |  | 669 |  |  | 698 |
Total |  | $ | 7,520 |  | $ | 7,687 |

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