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Securities (Tables)

3 Months Ended

Mar. 31, 2020

Investments Debt And Equity Securities [Abstract]

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

The amortized cost and fair value of securities, with gross unrealized gains and losses at March 31, 2020 and December 31, 2019, are as follows

	(In Thousands)
	March 31, 2020
	Amortized		Gross Unrealized		Gross Unrealized			Fair
	Cost		Gains		Losses			Value
Available-for-Sale:
U.S. Treasury	$	10,016	$	57	$	-		$	10,073
U.S. Government agencies		47,869		1,880		-			49,749
Mortgage-backed securities		97,726		2,968		-			100,694
State and local governments		42,393		1,215		(3	)		43,605
Total available-for-sale securities	$	198,004	$	6,120	$	(3	)	$	204,121

	(In Thousands)
	December 31, 2019
	Amortized		Gross Unrealized		Gross Unrealized			Fair
	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

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

Information pertaining to securities with gross unrealized losses at March 31, 2020 and December 31, 2019, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows:

	(In Thousands)
	March 31, 2020
	Less Than Twelve Months					Twelve Months & Over					Total
	Gross Unrealized			Fair		Gross Unrealized			Fair		Gross Unrealized			Fair
	Losses			Value		Losses			Value		Losses			Value
U.S. Treasury	$	-		$	-	$	-		$	-	$	-		$	-
U.S. Government agencies		-			-		-			-		-			-
Mortgage-backed securities		-			-		-			-		-			-
State and local governments		(1	)		513		(2	)		2,044		(3	)		2,557
Total available-for-sale securities	$	(1	)	$	513	$	(2	)	$	2,044	$	(3	)	$	2,557

	(In Thousands)
	December 31, 2019
	Less Than Twelve Months					Twelve Months & Over					Total
	Gross Unrealized			Fair		Gross Unrealized			Fair		Gross Unrealized			Fair
	Losses			Value		Losses			Value		Losses			Value
U.S. Treasury	$	-		$	-	$	(12	)	$	5,030	$	(12	)	$	5,030
U.S. Government agencies		(16	)		10,549		(5	)		10,745		(21	)		21,294
Mortgage-backed securities		(102	)		27,696		(125	)		11,332		(227	)		39,028
State and local governments		(120	)		16,845		-			-		(120	)		16,845
Total available-for-sale securities	$	(238	)	$	55,090	$	(142	)	$	27,107	$	(380	)	$	82,197

Gross Realized Gains and Losses

Below are the gross realized gains and losses for the three months ended March 31, 2020 and March 31, 2019.

	Three Months
	(In Thousands)
	2020		2019
Gross realized gains	$	270	$	16
Gross realized losses		-		(42	)
Net realized gains (losses)	$	270	$	(26	)
Tax expense (benefit) related to net realized gains (losses)	$	57	$	(5	)

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

The amortized cost and fair value of debt securities at March 31, 2020, 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	$	16,663	$	16,766
After one year through five years		19,720		20,130
After five years through ten years		59,816		62,399
After ten years		4,079		4,132
Total	$	100,278	$	103,427
Mortgage-backed securities		97,726		100,694
Total	$	198,004	$	204,121