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v3.19.3.a.u2

Investment Securities | 9 Months Ended
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Sep. 30, 2019
Schedule of Investments [Abstract] |
Investment Securities | Note 2 – Investment Securities Investment securities available for sale are carried in the consolidated balance sheets at their fair value and investment securities held to maturity are carried in the consolidated balance sheets at their amortized cost. The amortized cost and fair values of investment securities at September 30, 2019 and December 31, 2018 are as follows:
|  | September 30, 2019 |
(In thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and agencies |  | $ | 3,375 |  |  | $ | 2 |  |  | $ | 46 |  |  | $ | 3,331 |
Mortgage backed securities |  |  | 110,220 |  |  |  | 1,640 |  |  |  | 70 |  |  |  | 111,790 |
Corporate bonds |  |  | 6,553 |  |  |  | 68 |  |  |  | 2 |  |  |  | 6,619 |
|  | $ | 120,148 |  |  | $ | 1,710 |  |  | $ | 118 |  |  | $ | 121,740 |
Held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal |  | $ | 13,117 |  |  | $ | 506 |  |  | $ | 8 |  |  | $ | 13,615 |
|  | $ | 13,117 |  |  | $ | 506 |  |  | $ | 8 |  |  | $ | 13,615 |
Total Investment Securities |  | $ | 133,265 |  |  | $ | 2,216 |  |  | $ | 126 |  |  | $ | 135,355 |
|  | December 31, 2018 |
(In thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal |  | $ | 1,000 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 1,003 |
U.S. Treasury and agencies |  |  | 3,375 |  |  |  | — |  |  |  | 208 |  |  |  | 3,167 |
Mortgage backed securities |  |  | 28,976 |  |  |  | 22 |  |  |  | 628 |  |  |  | 28,370 |
Corporate bonds |  |  | 5,477 |  |  |  | 78 |  |  |  | 48 |  |  |  | 5,507 |
|  | $ | 38,828 |  |  | $ | 103 |  |  | $ | 884 |  |  | $ | 38,047 |
Held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal |  | $ | 15,565 |  |  | $ | 78 |  |  | $ | 140 |  |  | $ | 15,503 |
|  | $ | 15,565 |  |  | $ | 78 |  |  | $ | 140 |  |  | $ | 15,503 |
Total Investment Securities |  | $ | 54,393 |  |  | $ | 181 |  |  | $ | 1,024 |  |  | $ | 53,550 |
The amortized cost and fair value of securities at September 30, 2019, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | September 30, 2019 |
|  | Securities Available for Sale |  |  | Securities Held to Maturity |
(In thousands) |  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | — |  |  | $ | — |  |  | $ | 461 |  |  | $ | 463 |
Due after one year through five years |  |  | 2,500 |  |  |  | 2,499 |  |  |  | 2,590 |  |  |  | 2,641 |
Due after five years |  |  | 8,794 |  |  |  | 8,781 |  |  |  | 3,761 |  |  |  | 3,863 |
Due after ten years |  |  | 108,854 |  |  |  | 110,460 |  |  |  | 6,305 |  |  |  | 6,648 |
Total |  | $ | 120,148 |  |  | $ | 121,740 |  |  | $ | 13,117 |  |  | $ | 13,615 |
A summary of unrealized losses (in thousands) and the length of time in a continuous loss position, by security type at September 30, 2019 and December 31, 2018 is as follows:
September 30, 2019 |  | Less than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
State and Municipal |  | $ | 1,667 |  |  | $ | (8 | ) |  | $ | — |  |  | $ | — |  |  | $ | 1,667 |  |  | $ | (8 | )
U.S. Treasury and Agency |  |  | — |  |  |  | — |  |  |  | 2,829 |  |  |  | (46 | ) |  |  | 2,829 |  |  |  | (46 | )
Mortgage backed |  |  | 6,251 |  |  |  | (4 | ) |  |  | 6,986 |  |  |  | (66 | ) |  |  | 13,237 |  |  |  | (70 | )
Corporate bonds |  |  | 250 |  |  |  | — |  |  |  | 898 |  |  |  | (2 | ) |  |  | 1,148 |  |  |  | (2 | )
Total |  | $ | 8,168 |  |  | $ | (12 | ) |  | $ | 10,713 |  |  | $ | (114 | ) |  | $ | 18,881 |  |  | $ | (126 | )
December 31, 2018 |  | Less than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
State and Municipal |  | $ | 6,278 |  |  | $ | (105 | ) |  | $ | 2,402 |  |  | $ | (35 | ) |  | $ | 8,680 |  |  | $ | (140 | )
U.S. Treasury and Agency |  |  | — |  |  |  | — |  |  |  | 3,167 |  |  |  | (208 | ) |  |  | 3,167 |  |  |  | (208 | )
Mortgage backed |  |  | 10,031 |  |  |  | (51 | ) |  |  | 17,173 |  |  |  | (577 | ) |  |  | 27,204 |  |  |  | (628 | )
Corporate bonds |  |  | 2,114 |  |  |  | (36 | ) |  |  | 488 |  |  |  | (12 | ) |  |  | 2,602 |  |  |  | (48 | )
Total |  | $ | 18,423 |  |  | $ | (192 | ) |  | $ | 23,230 |  |  | $ | (832 | ) |  | $ | 41,653 |  |  | $ | (1,024 | )
Other investments (in thousands) consist of stock in the Federal Home Loan Bank (carrying basis $5,993), Federal Reserve stock (carrying basis $963), and various other investments (carrying basis $899). The Company had pledged securities (in thousands) of $97,265 and $26,408 at September 30, 2019 and December 31, 2018, respectively.

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- Definition The entire disclosure for investment holdings. This includes the long positions of investments for the entity. It contains investments in affiliated and unaffiliated issuers. The investments include securities and non securities (i.e. commodities and futures contracts). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611133-123010 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 5 -Subparagraph (SX 210.12-13) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611282-123010 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-12C) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010 + Details
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