XML 18 R8.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Note 2 - Investment Securities | 9 Months Ended
--- | ---
Sep. 30, 2017
Notes to Financial Statements |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 2 ) Investment Securities Investment securities as of September 30, 2017 and December 31, 2016 are summarized as follows:
September 30, 2017 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Securities Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. Government Agencies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed |  | $ | 336,376 |  |  | $ | 368 |  |  | $ | (6,086 | ) |  | $ | 330,658 |
State, County & Municipal |  |  | 4,527 |  |  |  | 37 |  |  |  | (25 | ) |  |  | 4,539 |
Corporate Bonds |  |  | 2,052 |  |  |  | 8 |  |  |  | - |  |  |  | 2,060 |
Asset Backed |  |  | 1,016 |  |  |  | - |  |  |  | (24 | ) |  |  | 992 |
|  | $ | 343,971 |  |  | $ | 413 |  |  | $ | (6,135 | ) |  | $ | 338,249 |
December 31, 2016 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Securities Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. Government Agencies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed |  | $ | 326,694 |  |  | $ | 76 |  |  | $ | (7,673 | ) |  | $ | 319,097 |
State, County & Municipal |  |  | 4,573 |  |  |  | 18 |  |  |  | (30 | ) |  |  | 4,561 |
|  | $ | 331,267 |  |  | $ | 94 |  |  | $ | (7,703 | ) |  | $ | 323,658 |
The amortized cost and fair value of investment securities as of September 30, 2017, by contractual maturity, are shown hereafter. Expected maturities may differ from contractual maturities for certain investments because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. This is often the case with mortgage-backed securities, which are disclosed separately in the table below.
|  | Securities |
|  | Available for Sale |
|  | Amortized Cost |  |  | Fair Value |
Due In One Year or Less |  | $ | 318 |  |  | $ | 320 |
Due After One Year Through Five Years |  |  | 4,690 |  |  |  | 4,682 |
Due After Five Years Through Ten Years |  |  | 878 |  |  |  | 899 |
Due After Ten Years |  |  | 1,709 |  |  |  | 1,690 |
|  | $ | 7,595 |  |  | $ | 7,591 |
Mortgage-Backed Securities |  |  | 336,376 |  |  |  | 330,658 |
|  | $ | 343,971 |  |  | $ | 338,249 |
The Bank did not s ell any investments during the first nine months of 2017. Therefore the Bank did not have any proceeds, gains or losses during the first nine months of 2017. Proceeds from the sale of investments available for sale totaled $25,210 for the first nine months of 2016. The sale of investments available for sale during the first six months of 2016 resulted in gross realized gains of $392 and losses of $7. Investment securities having a carry ing value approximating $153,050 and $144,854 as of September 30, 2017 and December 31, 2016, respectively, were pledged to secure public deposits and for other purposes. Information pertaining to securities with gross unrealized losses at September 30, 2017 and December 31, 2016 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:
|  | Less Than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. Government Agencies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed |  | $ | 136,825 |  |  | $ | (1,973 | ) |  | $ | 126,175 |  |  | $ | (4,113 | ) |  | $ | 263,000 |  |  | $ | (6,086 | )
State, County and Municipal |  |  | 1,423 |  |  |  | (25 | ) |  |  | - |  |  |  | - |  |  |  | 1,423 |  |  |  | (25 | )
Asset Backed |  |  | 992 |  |  |  | (24 | ) |  |  | - |  |  |  | - |  |  |  | 992 |  |  |  | (24 | )
|  | $ | 139,240 |  |  | $ | (2,022 | ) |  | $ | 126,175 |  |  | $ | (4,113 | ) |  | $ | 265,415 |  |  | $ | (6,135 | )
December 31. 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government Agencies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed |  | $ | 174,201 |  |  | $ | (3,460 | ) |  | $ | 107,482 |  |  | $ | (4,213 | ) |  | $ | 281,683 |  |  | $ | (7,673 | )
State, County and Municipal |  |  | 3,488 |  |  |  | (30 | ) |  |  | - |  |  |  | - |  |  |  | 3,488 |  |  |  | (30 | )
|  | $ | 177,689 |  |  | $ | (3,490 | ) |  | $ | 107,482 |  |  | $ | (4,213 | ) |  | $ | 285,171 |  |  | $ | (7,703 | )
Ma nagement evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to ( 1 ) the length of time and the extent to which the fair value has been less than cost, ( 2 ) the financial condition and near-term prospects of the issuer and ( 3 ) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. At September 30, 2017, 106 securities have unrealized losses which have depreciated 2.26 percent from the Company’s amortized cost basis. These securities are guaranteed by either the U.S. Government, other governments or U.S. corporations. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred and the results of reviews of the issuer’s financial condition. The unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. As management has the ability to hold debt securities until maturity, or for the foreseeable future if classified as available-for-sale, no declines are deemed to be other than temporary.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration