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Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investments Debt And Equity Securities [Abstract]

Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses

Note 3 – Securities

The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:

		(In Thousands)
		2019
						Gross				Gross				Fair
		Amortized				Unrealized				Unrealized				Market
		Cost				Gains				Losses				Value
Available-for-Sale:
U.S. Treasury		$	10,023			$	10			$	(12	)		$	10,021
U.S. Government agencies			61,882				584				(21	)			62,445
Mortgage-backed securities			94,998				426				(227	)			95,197
State and local governments			54,001				749				(120	)			54,630
Total available-for-sale securities		$	220,904			$	1,769			$	(380	)		$	222,293

		(In Thousands)
		2018
						Gross				Gross				Fair
		Amortized				Unrealized				Unrealized				Market
		Cost				Gains				Losses				Value
Available-for-Sale:
U.S. Treasury		$	23,078			$	6			$	(254	)		$	22,830
U.S. Government agencies			71,235				2				(1,910	)			69,327
Mortgage-backed securities			37,342				62				(1,142	)			36,262
State and local governments			40,608				225				(805	)			40,028
Total available-for-sale securities		$	172,263			$	295			$	(4,111	)		$	168,447

Gross Unrealized Losses, Aggregated by Investment Category and Length of Time

Information pertaining to securities with gross unrealized losses at December 31, 2019 and 2018, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows:

		2019
		(In Thousands)								(In Thousands)
		Less Than Twelve Months								Twelve Months & Over
		Gross								Gross
		Unrealized				Fair				Unrealized				Fair
		Losses				Value				Losses				Value
U.S. Treasury		$	-			$	-			$	(12	)		$	5,030
U.S. Government agencies			(16	)			10,549				(5	)			10,745
Mortgage-backed securities			(102	)			27,696				(125	)			11,332
State and local governments			(120	)			16,845				-
Total available-for-sales securities		$	(238	)		$	55,090			$	(142	)		$	27,107

		2018
		(In Thousands)								(In Thousands)
		Less Than Twelve Months								Twelve Months & Over
		Gross								Gross
		Unrealized				Fair				Unrealized				Fair
		Losses				Value				Losses				Value
U.S. Treasury		$	-			$	-			$	(254	)		$	20,861
U.S. Government agencies			-				-				(1,910	)			64,727
Mortgage-backed securities			(4	)			697				(1,138	)			30,347
State and local governments			(22	)			3,254				(783	)			29,413
Total available-for-sales securities		$	(26	)		$	3,951			$	(4,085	)		$	145,348

Gross Realized Gains and Losses

gross realized gains and losses for the years ended December 31, as presented below:

		(In Thousands)
		2019				2018				2017
Gross realized gains		$	16			$	51			$	58
Gross realized losses			(42	)			(60	)			(11	)
Net realized gains (losses)		$	(26	)		$	(9	)		$	47
Tax expense (benefit) related to net realized gains (losses)		$	(5	)		$	(2	)		$	16

Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity

The amortized cost and fair value of debt securities at December 31, 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.

		(In Thousands)
		Amortized
		Cost				Fair Value
One year or less		$	22,150			$	22,158
After one year through five years			42,705				42,983
After five years through ten years			57,231				58,149
After ten years			3,820				3,806
Total		$	125,906			$	127,096
Mortgage-backed securities			94,998				95,197
Total		$	220,904			$	222,293

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=118942371&loc=SL82922954-210456

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
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-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=118955579&loc=SL82922888-210455

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