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Securities | 6 Months Ended
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Jun. 30, 2018
Investments Debt And Equity Securities [Abstract] |
Securities | (3) Securities The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive loss were as follows:
June 30, 2018 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 29,624 |  |  | $ | 69 |  |  | $ | (294 | ) |  | $ | 29,399 |
Obligations of states and political subdivisions |  |  | 116,051 |  |  |  | 2,298 |  |  |  | (701 | ) |  |  | 117,648 |
Mortgage-backed securities in government sponsored entities |  |  | 85,556 |  |  |  | 208 |  |  |  | (1,798 | ) |  |  | 83,966 |
Total debt securities |  | $ | 231,231 |  |  | $ | 2,575 |  |  | $ | (2,793 | ) |  | $ | 231,013 |
December 31, 2017 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 30,450 |  |  | $ | 100 |  |  | $ | (192 | ) |  | $ | 30,358 |
Obligations of states and political subdivisions |  |  | 114,002 |  |  |  | 4,226 |  |  |  | (172 | ) |  |  | 118,056 |
Mortgage-backed securities in government sponsored entities |  |  | 82,098 |  |  |  | 408 |  |  |  | (690 | ) |  |  | 81,816 |
Total debt securities |  | $ | 226,550 |  |  | $ | 4,734 |  |  | $ | (1,054 | ) |  | $ | 230,230 |
The amortized cost and fair value of securities at June 30, 2018, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities and equity securities are shown separately.
Available for sale |  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 13,504 |  |  | $ | 13,462 |
Due after one year through five years |  |  | 22,556 |  |  |  | 22,415 |
Due after five years through ten years |  |  | 29,983 |  |  |  | 30,994 |
Due after ten years |  |  | 79,632 |  |  |  | 80,176 |
Mortgage-backed securities |  |  | 85,556 |  |  |  | 83,966 |
Total securities available for sale |  | $ | 231,231 |  |  | $ | 231,013 |
Proceeds from sales of securities, gross realized gains and gross realized losses were as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Sale proceeds |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Gross realized gains |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Gross realized losses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Gains (losses) from securities called or settled by the issuer |  |  | 6 |  |  |  | — |  |  |  | 6 |  |  |  | — |
Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $130,506 and $122,862 as of June 30, 2018 and December 31, 2017, respectively. Securities with unrealized losses at June 30, 2018 and December 31, 2017 not recognized in income are as follows:
June 30, 2018 |  | 12 Months or less |  |  | More than 12 months |  |  | Total |
Description of Securities |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 15,172 |  |  | $ | (159 | ) |  | $ | 11,366 |  |  | $ | (135 | ) |  | $ | 26,538 |  |  | $ | (294 | )
Obligations of states and political subdivisions |  |  | 27,449 |  |  |  | (448 | ) |  |  | 7,453 |  |  |  | (253 | ) |  |  | 34,902 |  |  |  | (701 | )
Mortgage-backed securities in gov’t sponsored entities |  |  | 57,043 |  |  |  | (1,027 | ) |  |  | 19,721 |  |  |  | (771 | ) |  |  | 76,764 |  |  |  | (1,798 | )
Total temporarily impaired |  | $ | 99,664 |  |  | $ | (1,634 | ) |  | $ | 38,540 |  |  | $ | (1,159 | ) |  | $ | 138,204 |  |  | $ | (2,793 | )
December 31, 2017 |  | 12 Months or less |  |  | More than 12 months |  |  | Total |
Description of Securities |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 20,449 |  |  | $ | (100 | ) |  | $ | 6,617 |  |  | $ | (92 | ) |  | $ | 27,066 |  |  | $ | (192 | )
Obligations of states and political subdivisions |  |  | 4,057 |  |  |  | (41 | ) |  |  | 7,309 |  |  |  | (131 | ) |  |  | 11,366 |  |  |  | (172 | )
Mortgage-backed securities in gov’t sponsored entities |  |  | 29,534 |  |  |  | (195 | ) |  |  | 22,199 |  |  |  | (495 | ) |  |  | 51,733 |  |  |  | (690 | )
Total temporarily impaired |  | $ | 54,040 |  |  | $ | (336 | ) |  | $ | 36,125 |  |  | $ | (718 | ) |  | $ | 90,165 |  |  | $ | (1,054 | )
At June 30, 2018, there were 130 securities in the portfolio with unrealized losses mainly due to higher market rates when compared to the time of purchase. Unrealized losses on securities have not been recognized into income because the issuers’ securities are of high credit quality, management has the intent and ability to hold these securities for the foreseeable future, and the decline in fair value is largely due to market yields increasing. The fair value is expected to recover as the securities approach their maturity date or reset date. The Company does not intend to sell until recovery and does not believe selling will be required before recovery. The following table presents the net gains and losses on equity investments recognized in earnings for the three and six-months ended June 30, 2018, and the portion of unrealized gains and losses for the period that relates to equity investments held at June 30, 2018:
|  | Three months ended |  |  | Six months ended |
|  | June 30, 2018 |  |  | June 30, 2018 |
Net gains recognized on equity securities during the period |  | $ | 35 |  |  | $ | 75 |
Less: Net gains (losses) realized on the sale of equity securities during the period |  |  | — |  |  |  | — |
Unrealized gains recognized in equity securities held at reporting date |  | $ | 35 |  |  | $ | 75 |

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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. + References No definition available. + Details
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- References No definition available. + Details
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