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Investment securities (Tables)

3 Months Ended

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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+ 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
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563

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