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Securities (Tables)
12 Months Ended
Dec. 31, 2019
Investments Debt And Equity Securities [Abstract]  
Available for Sale Securities

The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized were as follows:

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of

   U.S. government agencies

 

$

19,401

 

 

$

204

 

 

$

(4

)

 

$

19,601

 

Obligations of states and political subdivisions

 

 

193,646

 

 

 

12,409

 

 

 

(21

)

 

 

206,034

 

Mortgage-back securities in government sponsored

   entities

 

 

129,145

 

 

 

3,863

 

 

 

(144

)

 

 

132,864

 

Total debt securities

 

$

342,192

 

 

$

16,476

 

 

$

(169

)

 

$

358,499

 

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of

   U.S. government agencies

 

$

30,623

 

 

$

202

 

 

$

(140

)

 

$

30,685

 

Obligations of states and political subdivisions

 

 

168,993

 

 

 

3,680

 

 

 

(602

)

 

 

172,071

 

Mortgage-back securities in government sponsored

   entities

 

 

143,707

 

 

 

1,024

 

 

 

(1,193

)

 

 

143,538

 

Total debt securities

 

$

343,323

 

 

$

4,906

 

 

$

(1,935

)

 

$

346,294

 

 

Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at year end 2019 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.

 

 

 

Available for sale

 

 

 

Amortized Cost

 

 

Fair Value

 

Due in one year or less

 

$

11,124

 

 

$

11,166

 

Due from one to five years

 

 

14,756

 

 

 

15,062

 

Due from five to ten years

 

 

26,117

 

 

 

27,173

 

Due after ten years

 

 

161,050

 

 

 

172,234

 

Mortgage-backed securities in government sponsored

   entities

 

 

129,145

 

 

 

132,864

 

Total securities available for sale

 

$

342,192

 

 

$

358,499

 

 

Proceeds from Sales of Securities, Gross Realized Gains and Losses

Proceeds from sales of securities, gross realized gains and gross realized losses were as follows:

 

 

 

2019

 

 

2018

 

 

2017

 

Sale proceeds

 

$

17,570

 

 

$

14,667

 

 

$

953

 

Gross realized gains

 

 

47

 

 

 

6

 

 

 

 

Gross realized losses

 

 

43

 

 

 

393

 

 

 

 

Gains (losses) from securities called or settled by the

   issuer

 

 

28

 

 

 

(26

)

 

 

12

 

 

Securities with Unrealized Losses Not Recognized in Income

Debt securities with unrealized losses at year end 2019 and 2018 not recognized in income were as follows:

 

2019

 

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

 

$

 

 

$

 

 

$

3,408

 

 

$

(4

)

 

$

3,408

 

 

$

(4

)

Obligations of states and political subdivisions

 

 

1,947

 

 

 

(21

)

 

 

 

 

 

 

 

 

1,947

 

 

 

(21

)

Mortgage-backed securities in gov’t sponsored

   entities

 

 

10,653

 

 

 

(91

)

 

 

7,732

 

 

 

(53

)

 

 

18,385

 

 

 

(144

)

Total temporarily impaired

 

$

12,600

 

 

$

(112

)

 

$

11,140

 

 

$

(57

)

 

$

23,740

 

 

$

(169

)

 

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

 

$

 

 

$

 

 

$

16,469

 

 

$

(140

)

 

$

16,469

 

 

$

(140

)

Obligations of states and political subdivisions

 

 

8,008

 

 

 

(71

)

 

 

25,890

 

 

 

(531

)

 

 

33,898

 

 

 

(602

)

Mortgage-backed securities in gov’t sponsored

   entities

 

 

6,630

 

 

 

(90

)

 

 

40,333

 

 

 

(1,103

)

 

 

46,963

 

 

 

(1,193

)

Total temporarily impaired

 

$

14,638

 

 

$

(161

)

 

$

82,692

 

 

$

(1,774

)

 

$

97,330

 

 

$

(1,935

)

 

Schedule of Net Gains and Losses on Equity Investments Recognized in Earnings and Portion of Unrealized Gains and Losses for Period that Relates to Equity Investments

The following table presents the net gains and losses on equity investments recognized in earnings at year-end 2019 and 2018, and the portion of unrealized gains and losses for the period that relates to equity investments held at year-end 2019 and 2018:

 

 

 

2019

 

 

2018

 

Net gains recognized on equity securities during the year

 

$

121

 

 

$

26

 

Less: Net gains (losses) realized on the sale of equity securities

   during the period

 

 

 

 

 

 

Unrealized gains recognized in equity securities held at

   December 31

 

$

121

 

 

$

26