XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Securities | 6 Months Ended
--- | ---
Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract] |
Securities | Securities The amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:
|  | As of June 30, 2018
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
|  | (In Thousands)
Available-for-sale: |  |  |  |  |  |  |  |
U.S. government agency obligations - government-sponsored enterprises |  | $ | 4,992 |  |  | $ | — |  |  | $ | (17 | ) |  | $ | 4,975 |
Municipal obligations |  | 7,137 |  |  | 2 |  |  | (101 | ) |  | 7,038 |
Collateralized mortgage obligations - government issued |  | 21,961 |  |  | 83 |  |  | (502 | ) |  | 21,542 |
Collateralized mortgage obligations - government-sponsored enterprises |  | 102,141 |  |  | 13 |  |  | (2,619 | ) |  | 99,535 |
Other securities |  | 2,450 |  |  | — |  |  | (70 | ) |  | 2,380 |
|  | $ | 138,681 |  |  | $ | 98 |  |  | $ | (3,309 | ) |  | $ | 135,470 |
|  | As of December 31, 2017
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
|  | (In Thousands)
Available-for-sale: |  |  |  |  |  |  |  |
U.S. government agency obligations - government-sponsored enterprises |  | $ | 999 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1,000 |
Municipal obligations |  | 9,494 |  |  | 2 |  |  | (82 | ) |  | 9,414 |
Collateralized mortgage obligations - government issued |  | 22,313 |  |  | 149 |  |  | (213 | ) |  | 22,249 |
Collateralized mortgage obligations - government-sponsored enterprises |  | 91,480 |  |  | 24 |  |  | (1,199 | ) |  | 90,305 |
Other securities |  | 3,040 |  |  | 3 |  |  | (6 | ) |  | 3,037 |
|  | $ | 127,326 |  |  | $ | 179 |  |  | $ | (1,500 | ) |  | $ | 126,005 |
The amortized cost and fair value of securities held-to-maturity and the corresponding amounts of gross unrealized gains and losses were as follows:
|  | As of June 30, 2018
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
|  | (In Thousands)
Held-to-maturity: |  |  |  |  |  |  |  |
U.S. government agency obligations - government-sponsored enterprises |  | $ | 1,499 |  |  | $ | — |  |  | $ | (5 | ) |  | $ | 1,494 |
Municipal obligations |  | 21,406 |  |  | 50 |  |  | (117 | ) |  | 21,339 |
Collateralized mortgage obligations - government issued |  | 8,173 |  |  | — |  |  | (277 | ) |  | 7,896 |
Collateralized mortgage obligations - government-sponsored enterprises |  | 9,868 |  |  | — |  |  | (257 | ) |  | 9,611 |
|  | $ | 40,946 |  |  | $ | 50 |  |  | $ | (656 | ) |  | $ | 40,340 |
|  | As of December 31, 2017
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
|  | (In Thousands)
Held-to-maturity: |  |  |  |  |  |  |  |
U.S. government agency obligations - government-sponsored enterprises |  | $ | 1,499 |  |  | $ | — |  |  | $ | (9 | ) |  | $ | 1,490 |
Municipal obligations |  | 21,680 |  |  | 176 |  |  | (34 | ) |  | 21,822 |
Collateralized mortgage obligations - government issued |  | 9,072 |  |  | 1 |  |  | (130 | ) |  | 8,943 |
Collateralized mortgage obligations - government-sponsored enterprises |  | 5,527 |  |  | — |  |  | (86 | ) |  | 5,441 |
|  | $ | 37,778 |  |  | $ | 177 |  |  | $ | (259 | ) |  | $ | 37,696 |
U.S. government agency obligations - government-sponsored enterprises represent securities issued by the Federal Home Loan Bank (“FHLB”), the Federal Home Loan Mortgage Corporation (“FHLMC”) and the Federal National Mortgage Association (“FNMA”). Municipal obligations include securities issued by various municipalities located primarily within the State of Wisconsin and are primarily general obligation bonds that are tax-exempt in nature. Collateralized mortgage obligations - government issued represent securities guaranteed by the Government National Mortgage Association. Collateralized mortgage obligations - government-sponsored enterprises include securities guaranteed by FHLMC and FNMA. Other securities represent certificates of deposit of insured banks and savings institutions with an original maturity greater than three months. No sales of available-for-sale securities occurred during the six months ended June 30, 2018 and six sales of available-for-sale securities occurred during the six months ended June 30, 2017. At June 30, 2018 and December 31, 2017, securities with a fair value of $2.5 million and $2.8 million, respectively, were pledged to secure interest rate swap contracts. The amortized cost and fair value of securities by contractual maturity at June 30, 2018 are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay certain obligations with or without call or prepayment penalties.
|  | Available-for-Sale |  | Held-to-Maturity
|  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
|  | (In Thousands)
Due in one year or less |  | $ | 6,795 |  |  | $ | 6,786 |  |  | $ | 2,273 |  |  | $ | 2,267 |
Due in one year through five years |  | 19,891 |  |  | 19,445 |  |  | 11,465 |  |  | 11,441 |
Due in five through ten years |  | 29,450 |  |  | 28,819 |  |  | 20,209 |  |  | 19,821 |
Due in over ten years |  | 82,545 |  |  | 80,420 |  |  | 6,999 |  |  | 6,811 |
|  | $ | 138,681 |  |  | $ | 135,470 |  |  | $ | 40,946 |  |  | $ | 40,340 |
The tables below show the Corporation’s gross unrealized losses and fair value of available-for-sale investments aggregated by investment category and length of time that individual investments were in a continuous loss position at June 30, 2018 and December 31, 2017. At June 30, 2018, the Corporation held 166 available-for-sale securities that were in an unrealized loss position. Such securities have not experienced credit rating downgrades; however, they have primarily declined in value due to the current interest rate environment. At June 30, 2018, the Corporation held 51 available-for-sale securities that had been in a continuous unrealized loss position for twelve months or greater. The Corporation also has not specifically identified available-for-sale securities in a loss position that it intends to sell in the near term and does not believe that it will be required to sell any such securities. The Corporation reviews its securities on a quarterly basis to monitor its exposure to other-than-temporary impairment. Consideration is given to such factors as the length of time and extent to which the security has been in an unrealized loss position, changes in security ratings and an evaluation of the present value of expected future cash flows, if necessary. Based on the Corporation’s evaluation, it is expected that the Corporation will recover the entire amortized cost basis of each security. Accordingly, no other-than-temporary impairment was recorded in the unaudited Consolidated Statements of Income for the six months ended June 30, 2018 and 2017. A summary of unrealized loss information for securities available-for-sale, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:
|  | As of June 30, 2018
|  | Less than 12 Months |  | 12 Months or Longer |  | Total
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
|  | (In Thousands)
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency obligations - government-sponsored enterprises |  | $ | 4,975 |  |  | $ | 17 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,975 |  |  | $ | 17 |
Municipal obligations |  | 3,681 |  |  | 41 |  |  | 2,588 |  |  | 60 |  |  | 6,269 |  |  | 101 |
Collateralized mortgage obligations - government issued |  | 10,917 |  |  | 232 |  |  | 6,353 |  |  | 270 |  |  | 17,270 |  |  | 502 |
Collateralized mortgage obligations - government-sponsored enterprises |  | 68,892 |  |  | 1,552 |  |  | 25,464 |  |  | 1,067 |  |  | 94,356 |  |  | 2,619 |
Other securities |  | 2,137 |  |  | 68 |  |  | 243 |  |  | 2 |  |  | 2,380 |  |  | 70 |
|  | $ | 90,602 |  |  | $ | 1,910 |  |  | $ | 34,648 |  |  | $ | 1,399 |  |  | $ | 125,250 |  |  | $ | 3,309 |
|  | As of December 31, 2017
|  | Less than 12 Months |  | 12 Months or Longer |  | Total
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
|  | (In Thousands)
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Municipal obligations |  | $ | 6,132 |  |  | $ | 43 |  |  | $ | 2,755 |  |  | $ | 39 |  |  | $ | 8,887 |  |  | $ | 82 |
Collateralized mortgage obligations - government issued |  | 7,104 |  |  | 40 |  |  | 6,715 |  |  | 173 |  |  | 13,819 |  |  | 213 |
Collateralized mortgage obligations - government-sponsored enterprises |  | 59,256 |  |  | 476 |  |  | 28,004 |  |  | 723 |  |  | 87,260 |  |  | 1,199 |
Other securities |  | 1,954 |  |  | 6 |  |  | — |  |  | — |  |  | 1,954 |  |  | $ | 6 |
|  | $ | 74,446 |  |  | $ | 565 |  |  | $ | 37,474 |  |  | $ | 935 |  |  | $ | 111,920 |  |  | $ | 1,500 |
The tables below show the Corporation’s gross unrealized losses and fair value of held-to-maturity investments, aggregated by investment category and length of time that individual investments were in a continuous loss position at June 30, 2018 and December 31, 2017. At June 30, 2018, the Corporation held 76 held-to-maturity securities that were in an unrealized loss position. Such securities have not experienced credit rating downgrades; however, they have primarily declined in value due to the current interest rate environment. There were 16 held-to-maturity securities that had been in a continuous loss position for twelve months or greater as of June 30, 2018. It is expected that the Corporation will recover the entire amortized cost basis of each held-to-maturity security based upon an evaluation of aforementioned factors. Accordingly, no other-than-temporary impairment was recorded in the unaudited Consolidated Statements of Income for the six months ended June 30, 2018 and 2017. A summary of unrealized loss information for securities held-to-maturity, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:
|  | As of June 30, 2018
|  | Less than 12 Months |  | 12 Months or Longer |  | Total
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
|  | (In Thousands)
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency obligations - government-sponsored enterprises |  | $ | — |  |  | $ | — |  |  | $ | 1,499 |  |  | $ | 5 |  |  | $ | 1,499 |  |  | $ | 5 |
Municipal obligations |  | 13,308 |  |  | 109 |  |  | 258 |  |  | 8 |  |  | 13,566 |  |  | 117 |
Collateralized mortgage obligations - government issued |  | 4,036 |  |  | 131 |  |  | 4,137 |  |  | 146 |  |  | 8,173 |  |  | 277 |
Collateralized mortgage obligations - government-sponsored enterprises |  | 4,857 |  |  | 74 |  |  | 5,011 |  |  | 183 |  |  | 9,868 |  |  | 257 |
|  | $ | 22,201 |  |  | $ | 314 |  |  | $ | 10,905 |  |  | $ | 342 |  |  | $ | 33,106 |  |  | $ | 656 |
|  | As of December 31, 2017
|  | Less than 12 Months |  | 12 Months or Longer |  | Total
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
|  | (In Thousands)
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency obligations - government-sponsored enterprises |  | $ | — |  |  | $ | — |  |  | $ | 1,499 |  |  | $ | 9 |  |  | $ | 1,499 |  |  | $ | 9 |
Municipal obligations |  | 3,723 |  |  | 27 |  |  | 259 |  |  | 7 |  |  | 3,982 |  |  | 34 |
Collateralized mortgage obligations - government issued |  | 3,868 |  |  | 51 |  |  | 4,677 |  |  | 79 |  |  | 8,545 |  |  | 130 |
Collateralized mortgage obligations - government-sponsored enterprises |  | — |  |  | — |  |  | 5,527 |  |  | 86 |  |  | 5,527 |  |  | 86 |
|  | $ | 7,591 |  |  | $ | 78 |  |  | $ | 11,962 |  |  | $ | 181 |  |  | $ | 19,553 |  |  | $ | 259 |

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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration