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SECURITIES (Tables)

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Amortized cost and estimated fair value of securities available for sale

Amortized cost and estimated fair value of securities available for sale are as follows (in thousands):

		March 31, 2020
		Amortized Cost				Unrealized Gains				Unrealized Losses				Estimated Fair Value
Mortgage-backed securities, residential		$	227,180			$	8,025			$	206			$	234,999
Obligations of states and political subdivisions		40,984				1,641				—				42,625
Corporate bonds and notes		250				—				—				250
SBA loan pools		21,181				91				71				21,201
Total		$	289,595			$	9,757			$	277			$	299,075

		December 31, 2019
		Amortized Cost				Unrealized Gains				Unrealized Losses				Estimated Fair Value
Mortgage-backed securities, residential		225,029				1,471				1,266				225,234
Obligations of states and political subdivisions		41,265				1,580				—				42,845
Corporate bonds and notes		250				—				—				250
SBA loan pools		15,712				95				46				15,761
Total		$	282,256			$	3,146			$	1,312			$	284,090

Amortized cost and estimated fair value of securities held to maturity

Amortized cost and estimated fair value of securities held to maturity are as follows (in thousands):

		March 31, 2020
		Amortized Cost				Unrecognized Gains				Unrecognized Losses				Estimated Fair Value
Obligations of states and political subdivisions		$	931			$	—			$	—			$	931
Time deposits with other financial institutions		2,070				23				—				2,093
Total		$	3,001			$	23			$	—			$	3,024

		December 31, 2019
		Amortized Cost				Unrecognized Gains				Unrecognized Losses				Estimated Fair Value
Obligations of states and political subdivisions		$	1,045			$	—			$	—			$	1,045
Time deposits with other financial institutions		2,070				24				—				2,094
Total		$	3,115			$	24			$	—			$	3,139

Amortized cost and estimated fair value of debt securities by contractual maturity

The amortized cost and estimated fair value of debt securities are shown below by expected maturity.  Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.  Securities not due at a single maturity date are shown separately (in thousands):

		March 31, 2020
		Available for Sale								Held to Maturity
		Amortized Cost				Fair Value				Amortized Cost				Fair Value
Within one year		$	475			$	475			$	1,480			$	1,484
After one, but within five years		10,439				10,779				1,521				1,540
After five, but within ten years		29,271				30,541				—				—
After ten years		1,049				1,080				—				—
		41,234				42,875				3,001				3,024
Mortgage-backed securities, residential		227,180				234,999				—				—
SBA loan pools		21,181				21,201				—				—
Total		$	289,595			$	299,075			$	3,001			$	3,024

Investment securities available for sale in an unrealized loss position

he following tables summarize the investment securities available for sale with unrealized losses at March 31, 2020 and December 31, 2019 by aggregated major security type and length of time in a continuous unrealized loss position (in thousands):

	Less than 12 months								12 months or longer								Total
March 31, 2020	Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Mortgage-backed securities, residential	$	5,168			$	114			$	3,875			$	92			$	9,043			$	206
SBA loan pools	6,009				37				1,338				34				7,347				71
Total temporarily impaired securities	$	11,177			$	151			$	5,213			$	126			$	16,390			$	277

	Less than 12 months								12 months or longer								Total
December 31, 2019	Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Mortgage-backed securities, residential	71,506				791				54,343				475				125,849				1,266
SBA loan pools	3,014				9				1,405				37				4,419				46
Total temporarily impaired securities	$	74,520			$	800			$	55,748			$	512			$	130,268			$	1,312

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27232-111563

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27290-111563

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