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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available For Sale, Held-to-Maturity, and Restricted Equity Securities The following table summarizes the amortized cost and estimated fair value of investment securities at September 30, 2018:
 
Amortized
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value (Estimated)
Securities available for sale
 
 
 
 
 
 
 
U.S. government-sponsored agencies
$
5,000,000

 
$
—

 
$
(21,000
)
 
$
4,979,000

Mortgage-backed securities
303,793,000

 
77,000

 
(11,300,000
)
 
292,570,000

State and political subdivisions
4,955,000

 
—

 
(317,000
)
 
4,638,000

Other equity securities
3,257,000

 
—

 
—

 
3,257,000

 
$
317,005,000

 
$
77,000

 
$
(11,638,000
)
 
$
305,444,000

Securities to be held to maturity
 
 
 
 
 
 
 
U.S. Government-sponsored agencies
$
11,155,000

 
$
—

 
$
(767,000
)
 
$
10,388,000

Mortgage-backed securities
19,244,000

 
326,000

 
(460,000
)
 
19,110,000

State and political subdivisions
222,696,000

 
639,000

 
(7,243,000
)
 
216,092,000

Corporate securities
4,300,000

 
—

 
—

 
4,300,000

 
$
257,395,000

 
$
965,000

 
$
(8,470,000
)
 
$
249,890,000

Restricted equity securities
 
 
 
 
 
 
 
Federal Home Loan Bank Stock
$
10,549,000

 
$
—

 
$
—

 
$
10,549,000

Federal Reserve Bank Stock
1,037,000

 
—

 
—

 
1,037,000

 
$
11,586,000

 
$
—

 
$
—

 
$
11,586,000


The following table summarizes the amortized cost and estimated fair value of investment securities at December 31, 2017:
 
Amortized
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value (Estimated)
Securities available for sale
 
 
 
 
 
 
 
Mortgage-backed securities
$
293,689,000

 
$
722,000

 
$
(4,422,000
)
 
$
289,989,000

State and political subdivisions
6,860,000

 
16,000

 
(107,000
)
 
6,769,000

Other equity securities
3,296,000

 
121,000

 
(3,000
)
 
3,414,000

 
$
303,845,000

 
$
859,000

 
$
(4,532,000
)
 
$
300,172,000

Securities to be held to maturity
 
 
 
 
 
 
 
U.S. Government-sponsored agencies
$
11,155,000

 
$
—

 
$
(180,000
)
 
$
10,975,000

Mortgage-backed securities
23,284,000

 
568,000

 
(128,000
)
 
23,724,000

State and political subdivisions
217,828,000

 
3,931,000

 
(1,103,000
)
 
220,656,000

Corporate securities
4,300,000

 
—

 
—

 
4,300,000

 
$
256,567,000

 
$
4,499,000

 
$
(1,411,000
)
 
$
259,655,000

Restricted equity securities
 
 
 
 
 
 
 
Federal Home Loan Bank Stock
$
9,321,000

 
$
—

 
$
—

 
$
9,321,000

Federal Reserve Bank Stock
1,037,000

 
—

 
—

 
1,037,000

 
$
10,358,000

 
$
—

 
$
—

 
$
10,358,000


The following table summarizes the amortized cost and estimated fair value of investment securities at September 30, 2017:
 
Amortized
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair Value (Estimated)
Securities available for sale
 
 
 
 
 
 
 
Mortgage-backed securities
$
290,151,000

 
$
1,339,000

 
$
(2,701,000
)
 
$
288,789,000

State and political subdivisions
6,860,000

 
28,000

 
(46,000
)
 
6,842,000

Other equity securities
3,257,000

 
113,000

 
(2,000
)
 
3,368,000

 
$
300,268,000

 
$
1,480,000

 
$
(2,749,000
)
 
$
298,999,000

Securities to be held to maturity
 
 
 
 
 
 
 
U.S. Government-sponsored agencies
$
11,154,000

 
$
—

 
$
(197,000
)
 
$
10,957,000

Mortgage-backed securities
24,993,000

 
731,000

 
(40,000
)
 
25,684,000

State and political subdivisions
202,232,000

 
3,640,000

 
(1,792,000
)
 
204,080,000

Corporate securities
4,300,000

 
—

 
—

 
4,300,000

 
$
242,679,000

 
$
4,371,000

 
$
(2,029,000
)
 
$
245,021,000

Restricted equity securities
 
 
 
 
 
 
 
Federal Home Loan Bank Stock
$
9,761,000

 
$
—

 
$
—

 
$
9,761,000

Federal Reserve Bank Stock
1,037,000

 
—

 
—

 
1,037,000

 
$
10,798,000

 
$
—

 
$
—

 
$
10,798,000
Contractual Maturities of Investment Securities The following table summarizes the contractual maturities of investment securities at September 30, 2018:
 
Securities available for sale
 
Securities to be held to maturity
 
Amortized
Cost
 
Fair Value (Estimated)
 
Amortized
Cost
 
Fair Value (Estimated)
Due in 1 year or less
$
—

 
$
—

 
$
1,796,000

 
$
1,800,000

Due in 1 to 5 years
13,961,000

 
13,886,000

 
21,463,000

 
21,468,000

Due in 5 to 10 years
69,317,000

 
67,434,000

 
155,997,000

 
152,154,000

Due after 10 years
230,470,000

 
220,867,000

 
78,139,000

 
74,468,000

Equity securities
3,257,000

 
3,257,000

 
—

 
—

 
$
317,005,000

 
$
305,444,000

 
$
257,395,000

 
$
249,890,000


The following table summarizes the contractual maturities of investment securities at December 31, 2017:
 
Securities available for sale
 
Securities to be held to maturity
 
Amortized
Cost
 
Fair Value (Estimated)
 
Amortized
Cost
 
Fair Value (Estimated)
Due in 1 year or less
$
111,000

 
$
112,000

 
$
635,000

 
$
637,000

Due in 1 to 5 years
841,000

 
842,000

 
18,059,000

 
18,164,000

Due in 5 to 10 years
29,003,000

 
29,177,000

 
37,182,000

 
37,719,000

Due after 10 years
270,594,000

 
266,627,000

 
200,691,000

 
203,135,000

Equity securities
3,296,000

 
3,414,000

 
—

 
—

 
$
303,845,000

 
$
300,172,000

 
$
256,567,000

 
$
259,655,000


The following table summarizes the contractual maturities of investment securities at September 30, 2017:
 
Securities available for sale
 
Securities to be held to maturity
 
Amortized
Cost
 
Fair Value (Estimated)
 
Amortized
Cost
 
Fair Value (Estimated)
Due in 1 year or less
$
176,000

 
$
179,000

 
$
552,000

 
$
559,000

Due in 1 to 5 years
856,000

 
859,000

 
17,241,000

 
17,485,000

Due in 5 to 10 years
33,550,000

 
33,987,000

 
37,218,000

 
37,963,000

Due after 10 years
262,429,000

 
260,606,000

 
187,668,000

 
189,014,000

Equity securities
3,257,000

 
3,368,000

 
—

 
—

 
$
300,268,000

 
$
298,999,000

 
$
242,679,000

 
$
245,021,000
Schedule of Securities Gains and Losses The following table shows securities gains and losses for the nine months and quarters ended September 30, 2018 and 2017:
 
For the nine months ended September 30,
 
For the quarter ended September 30,
 
2018
 
2017
 
2018
 
2017
Proceeds from sales of securities
$
459,000

 
$
15,587,000

 
$
—

 
$
15,584,000

Gross realized gains
137,000

 
471,000

 
1,000

 
468,000

Gross realized losses
—

 
—

 
—

 
—

Net gain
$
137,000

 
$
471,000

 
$
1,000

 
$
468,000

Related income taxes
$
29,000

 
$
165,000

 
$
—

 
$
164,000
Schedule of Securities Temporarily Impaired Information regarding securities temporarily impaired as of September 30, 2018 is summarized below:
 
Less than 12 months
 
12 months or more
 
Total
 
Fair Value (Estimated)
 
Unrealized Losses
 
Fair Value (Estimated)
 
Unrealized Losses
 
Fair Value (Estimated)
 
Unrealized Losses
U.S. Government-sponsored agencies
$
7,753,000

 
$
(247,000
)
 
$
7,614,000

 
$
(541,000
)
 
$
15,367,000

 
$
(788,000
)
Mortgage-backed securities
154,611,000

 
(4,333,000
)
 
143,771,000

 
(7,427,000
)
 
298,382,000

 
(11,760,000
)
State and political subdivisions
105,233,000

 
(3,255,000
)
 
38,491,000

 
(4,305,000
)
 
143,724,000

 
(7,560,000
)
 
$
267,597,000

 
$
(7,835,000
)
 
$
189,876,000

 
$
(12,273,000
)
 
$
457,473,000

 
$
(20,108,000
)

As of December 31, 2017, there were 241 securities with unrealized losses held in the Company's portfolio. These securities were temporarily impaired as a result of changes in interest rates reducing their fair value, of which 157 had been temporarily impaired for 12 months or more. Information regarding securities temporarily impaired as of December 31, 2017 is summarized below:
 
Less than 12 months
 
12 months or more
 
Total
 
Fair Value (Estimated)
 
Unrealized Losses
 
Fair Value (Estimated)
 
Unrealized Losses
 
Fair Value (Estimated)
 
Unrealized Losses
U.S. Government-sponsored agencies
$
7,161,000

 
$
(94,000
)
 
$
3,814,000

 
$
(86,000
)
 
$
10,975,000

 
$
(180,000
)
Mortgage-backed securities
132,025,000

 
(1,857,000
)
 
101,707,000

 
(2,693,000
)
 
233,732,000

 
(4,550,000
)
State and political subdivisions
9,425,000

 
(149,000
)
 
38,864,000

 
(1,061,000
)
 
48,289,000

 
(1,210,000
)
Other equity securities
—

 
—

 
9,000

 
(3,000
)
 
9,000

 
(3,000
)
 
$
148,611,000

 
$
(2,100,000
)
 
$
144,394,000

 
$
(3,843,000
)
 
$
293,005,000

 
$
(5,943,000
)

As of September 30, 2017, there were 229 securities with unrealized losses held in the Company's portfolio. These securities were temporarily impaired as a result of changes in interest rates reducing their fair value, of which 61 had been temporarily impaired for 12 months or more. Information regarding securities temporarily impaired as of September 30, 2017 is summarized below:
 
Less than 12 months
 
12 months or more
 
Total
 
Fair Value (Estimated)
 
Unrealized Losses
 
Fair Value (Estimated)
 
Unrealized Losses
 
Fair Value (Estimated)
 
Unrealized Losses
U.S. Government-sponsored agencies
$
7,958,000

 
$
(197,000
)
 
$
—

 
$
—

 
$
7,958,000

 
$
(197,000
)
Mortgage-backed securities
147,326,000

 
(1,635,000
)
 
48,015,000

 
(1,106,000
)
 
195,341,000

 
(2,741,000
)
State and political subdivisions
39,407,000

 
(1,186,000
)
 
12,583,000

 
(652,000
)
 
51,990,000

 
(1,838,000
)
Other equity securities
—

 
—

 
10,000

 
(2,000
)
 
10,000

 
(2,000
)
 
$
194,691,000

 
$
(3,018,000
)
 
$
60,608,000

 
$
(1,760,000
)
 
$
255,299,000

 
$
(4,778,000
)