XML 103 R12.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Investment Securities | 12 Months Ended
--- | ---
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | INVESTMENT SECURITIES (Dollars In Thousands) The following table is the schedule of Available-For-Sale Securities at December 31, 2019 and 2018:
Available-For-Sale Securities
|  | U.S. Government & Agency Obligations |  | State and Municipal Obligations |  | Mortgage- Backed Securities |  | Corporate and Other Debt Securities |  | Total Available- For-Sale Securities
December 31, 2019 |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | 5,002 |  |  | $ | 764 |  |  | $ | 349,944 |  |  | $ | 1,000 |  |  | $ | 356,710 |
Available-For-Sale Securities, at Fair Value |  | 5,054 |  |  | 764 |  |  | 350,716 |  |  | 800 |  |  | 357,334 |
Gross Unrealized Gains |  | 52 |  |  | — |  |  | 1,852 |  |  | — |  |  | 1,904 |
Gross Unrealized Losses |  | — |  |  | — |  |  | 1,080 |  |  | 200 |  |  | 1,280 |
Available-For-Sale Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  |  |  | 164,426 |
Maturities of Debt Securities, at Amortized Cost: |  |  |  |  |  |  |  |  |  |
Within One Year |  | — |  |  | 25 |  |  | 18 |  |  | — |  |  | 43 |
From 1 - 5 Years |  | 5,002 |  |  | 299 |  |  | 300,271 |  |  | — |  |  | 305,572 |
From 5 - 10 Years |  | — |  |  | — |  |  | 49,655 |  |  | 1,000 |  |  | 50,655 |
Over 10 Years |  | — |  |  | 440 |  |  | — |  |  | — |  |  | 440 |
Maturities of Debt Securities, at Fair Value: |  |  |  |  |  |  |  |  |  |
Within One Year |  | — |  |  | 26 |  |  | 18 |  |  | — |  |  | 44 |
From 1 - 5 Years |  | 5,054 |  |  | 298 |  |  | 301,336 |  |  | — |  |  | 306,688 |
From 5 - 10 Years |  | — |  |  | — |  |  | 49,362 |  |  | 800 |  |  | 50,162 |
Over 10 Years |  | — |  |  | 440 |  |  | — |  |  | — |  |  | 440 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | 52,491 |  |  | $ | — |  |  | $ | 52,491 |
12 Months or Longer |  | — |  |  | — |  |  | 97,164 |  |  | 800 |  |  | 97,964 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 149,655 |  |  | $ | 800 |  |  | $ | 150,455 |
Number of Securities in a Continuous Loss Position |  | — |  |  | — |  |  | 54 |  |  | 1 |  |  | 55 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | 317 |  |  | $ | — |  |  | $ | 317 |
12 Months or Longer |  | — |  |  | — |  |  | 763 |  |  | 200 |  |  | 963 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 1,080 |  |  | $ | 200 |  |  | $ | 1,280 |
Disaggregated Details: |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Amortized Cost |  | 5,002 |  |  |  |  |  |  |  |  |
US Agency Obligations, at Fair Value |  | 5,054 |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  | $ | 61,102 |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  |  |  | 60,616 |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  | 288,842 |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  | 290,100 |  |  |  |  |
Available-For-Sale Securities
|  | U.S. Government & Agency Obligations |  | State and Municipal Obligations |  | Mortgage- Backed Securities |  | Corporate and Other Debt Securities |  | Mutual Funds and Equity Securities |  | Total Available- For-Sale Securities
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Available-For-Sale Securities, at Amortized Cost |  | $ | 47,071 |  |  | $ | 1,193 |  |  | $ | 273,227 |  |  | $ | 1,000 |  |  | $ | — |  |  | $ | 322,491 |
Available-For-Sale Securities, at Fair Value |  | 46,765 |  |  | 1,195 |  |  | 268,775 |  |  | 800 |  |  | — |  |  | 317,535 |
Gross Unrealized Gains |  | — |  |  | 2 |  |  | 288 |  |  | — |  |  | — |  |  | 290 |
Gross Unrealized Losses |  | 306 |  |  | — |  |  | 4,740 |  |  | 200 |  |  | — |  |  | 5,246 |
Available-For-Sale Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  |  |  |  |  |  |  | 236,163 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | 107,550 |  |  | $ | — |  |  | $ | — |  |  | $ | 107,550 |
12 Months or Longer |  | 46,765 |  |  | — |  |  | 124,627 |  |  | 800 |  |  | — |  |  | 172,192 |
Total |  | $ | 46,765 |  |  | $ | — |  |  | $ | 232,177 |  |  | $ | 800 |  |  | $ | — |  |  | $ | 279,742 |
Number of Securities in a Continuous Loss Position |  | 10 |  |  | — |  |  | 86 |  |  | 1 |  |  | — |  |  | 97 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |  |  |  |  |  |  |
Less than 12 Months |  | $ | — |  |  | $ | — |  |  | $ | 841 |  |  | $ | — |  |  | $ | — |  |  | $ | 841 |
12 Months or Longer |  | 306 |  |  | — |  |  | 3,899 |  |  | 200 |  |  | — |  |  | 4,405 |
Total |  | $ | 306 |  |  | $ | — |  |  | $ | 4,740 |  |  | $ | 200 |  |  | $ | — |  |  | $ | 5,246 |
Disaggregated Details: |  |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Amortized Cost |  | 47,071 |  |  |  |  |  |  |  |  |  |  |
US Agency Obligations, at Fair Value |  | 46,765 |  |  |  |  |  |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  |  |  | 72,095 |  |  |  |  |  |  |
US Government Agency Securities, at Fair Value |  |  |  |  |  | 71,800 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  |  |  | 201,132 |  |  |  |  |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  |  |  | 196,975 |  |  |  |  |  |  |
The following table is the schedule of Held-To-Maturity Securities at December 31, 2019 and 2018:
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities |  | Total Held-To Maturity Securities
December 31, 2019 |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 208,243 |  |  | $ | 36,822 |  |  | $ | 245,065 |
Held-To-Maturity Securities, at Fair Value |  | 212,319 |  |  | 37,299 |  |  | 249,618 |
Gross Unrealized Gains |  | 4,170 |  |  | 477 |  |  | 4,647 |
Gross Unrealized Losses |  | 94 |  |  | — |  |  | 94 |
Held-To-Maturity Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  | 237,969 |
Maturities of Debt Securities, at Amortized Cost: |  |  |  |  |  |
Within One Year |  | 17,243 |  |  | 3,532 |  |  | 20,775 |
From 1 - 5 Years |  | 115,150 |  |  | 33,290 |  |  | 148,440 |
From 5 - 10 Years |  | 74,259 |  |  | — |  |  | 74,259 |
Over 10 Years |  | 1,591 |  |  | — |  |  | 1,591 |
Maturities of Debt Securities, at Fair Value: |  |  |  |  |  |
Within One Year |  | 17,276 |  |  | 3,586 |  |  | 20,862 |
From 1 - 5 Years |  | 117,178 |  |  | 33,713 |  |  | 150,891 |
From 5 - 10 Years |  | 76,242 |  |  | — |  |  | 76,242 |
Over 10 Years |  | 1,623 |  |  | — |  |  | 1,623 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |
Less than 12 Months |  | $ | 1,438 |  |  | $ | — |  |  | $ | 1,438 |
12 Months or Longer |  | 1,994 |  |  | — |  |  | 1,994 |
Total |  | $ | 3,432 |  |  | $ | — |  |  | $ | 3,432 |
Number of Securities in a Continuous Loss Position |  | 10 |  |  | — |  |  | 10 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |
Less than 12 Months |  | $ | 85 |  |  | $ | — |  |  | $ | 85 |
12 Months or Longer |  | 9 |  |  | — |  |  | 9 |
Total |  | $ | 94 |  |  | $ | — |  |  | $ | 94 |
Disaggregated Details: |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | 1,703 |  |  |
US Government Agency Securities, at Fair Value |  |  |  | 1,720 |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 35,119 |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 35,579 |  |  |
Held-To-Maturity Securities
|  | State and Municipal Obligations |  | Mortgage- Backed Securities |  | Total Held-To Maturity Securities
December 31, 2018 |  |  |  |  |  |
Held-To-Maturity Securities, at Amortized Cost |  | $ | 235,782 |  |  | $ | 47,694 |  |  | $ | 283,476 |
Held-To-Maturity Securities, at Fair Value |  | 233,359 |  |  | 46,979 |  |  | 280,338 |
Gross Unrealized Gains |  | 486 |  |  | — |  |  | 486 |
Gross Unrealized Losses |  | 2,909 |  |  | 715 |  |  | 3,624 |
Held-To-Maturity Securities, Pledged as Collateral, at Fair Value |  |  |  |  |  | 266,341 |
Securities in a Continuous Loss Position, at Fair Value: |  |  |  |  |  |
Less than 12 Months |  | $ | 32,093 |  |  | $ | 33,309 |  |  | $ | 65,402 |
12 Months or Longer |  | 110,947 |  |  | 13,670 |  |  | 124,617 |
Total |  | $ | 143,040 |  |  | $ | 46,979 |  |  | $ | 190,019 |
Number of Securities in a Continuous Loss Position |  | 411 |  |  | 47 |  |  | 458 |
Unrealized Losses on Securities in a Continuous Loss Position: |  |  |  |  |  |
Less than 12 Months |  | $ | 162 |  |  | $ | 456 |  |  | $ | 618 |
12 Months or Longer |  | 2,747 |  |  | 259 |  |  | 3,006 |
Total |  | $ | 2,909 |  |  | $ | 715 |  |  | $ | 3,624 |
Disaggregated Details: |  |  |  |  |  |
US Government Agency Securities, at Amortized Cost |  |  |  | 2,180 |  |  |
US Government Agency Securities, at Fair Value |  |  |  | 2,143 |  |  |
Government Sponsored Entity Securities, at Amortized Cost |  |  |  | 45,514 |  |  |
Government Sponsored Entity Securities, at Fair Value |  |  |  | 44,836 |  |  |
In the tables above, maturities of mortgage-backed securities are included based on their expected average lives. Actual maturities will differ because issuers may have the right to call or prepay obligations with or without prepayment penalties. Securities in a continuous loss position, in the tables above for December 31, 2019 and December 31, 2018 do not reflect any deterioration of the credit worthiness of the issuing entities. U.S. agency issues, including mortgage-backed securities, are all rated AAA by Moody's and AA+ by Standard and Poor's. The state and municipal obligations are general obligations supported by the general taxing authority of the issuer, and in some cases are insured. Obligations issued by school districts are supported by state aid. For any non-rated municipal securities, credit analysis is performed in-house based upon data that has been submitted by the issuers to the NY State Comptroller. That analysis shows no deterioration in the credit worthiness of the municipalities. Subsequent to December 31, 2019, there were no securities downgraded below investment grade. The unrealized losses on these temporarily impaired securities are primarily the result of changes in interest rates for fixed rate securities where the interest rate received is less than the current rate available for new offerings of similar securities, changes in market spreads as a result of shifts in supply and demand, and/or changes in the level of prepayments for mortgage related securities. Because there is no current intention to sell any of our temporarily impaired securities, and because it is not more likely than not that it would be required to sell the securities prior to recovery, the impairment is considered temporary. Pledged securities, in the tables above, are primarily used to collateralize state and municipal deposits, as required under New York State law. A small portion of the pledged securities are used to collateralize repurchase agreements and pooled deposits of our trust customers. The following table is the schedule of Equity Securities at December 31, 2019 and 2018. Upon the adoption of ASU 2016-01 effective January 1, 2018, Equity Securities are not included in Securities Available-For-Sale since unrealized gains and losses are now recorded in the Consolidated Statements of Income. Prior to January 1, 2018, Equity Securities were included in Securities Available-For-Sale.
Equity Securities
|  | December 31,
|  | 2019 |  | 2018
Equity Securities, at Fair Value |  | $ | 2,063 |  |  | $ | 1,774 |
The following is a summary of realized and unrealized gains and losses recognized in net income on equity securities during the years ended December 31, 2019 and 2018 :
|  | December 31,
|  | 2019 |  | 2018
Net Gain on Equity Securities |  | $ | 289 |  |  | $ | 213 |
Less: Net gain (loss) recognized during the reporting period on equity securities sold during the period |  | — |  |  | — |
Unrealized net gain recognized during the reporting period on equity securities still held at the reporting date |  | $ | 289 |  |  | $ | 213 |
Schedule of Federal Reserve Bank and Federal Home Loan Bank Stock (at cost)
|  | December 31,
|  | 2019 |  | 2018
Federal Reserve Bank Stock |  | $ | 1,138 |  |  | $ | 1,132 |
Federal Home Loan Bank Stock |  | 9,179 |  |  | 14,374 |
Total Federal Reserve Bank and Federal Home Loan Bank Stock |  | $ | 10,317 |  |  | $ | 15,506 |

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