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SECURITIES (Tables)

6 Months Ended

Jun. 30, 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):

						June 30, 2020
						Amortized Cost						Unrealized Gains						Unrealized Losses						Estimated Fair Value
Mortgage-backed securities, residential						$	241,357					$	9,951					$	1					$	251,307
Obligations of states and political subdivisions						40,762						2,543						—						43,305
Corporate bonds and notes						2,250						—						—						2,250
SBA loan pools						20,247						52						100						20,199
Total						$	304,616					$	12,546					$	101					$	317,061

						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):

						June 30, 2020
						Amortized Cost						Unrecognized Gains						Unrecognized Losses						Estimated Fair Value
Obligations of states and political subdivisions						$	754					$	—					$	—					$	754
Time deposits with other financial institutions						2,843						50						—						2,893
Total						$	3,597					$	50					$	—					$	3,647

						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):

						June 30, 2020
						Available for Sale																		Held to Maturity
						Amortized Cost						Fair Value						Amortized Cost						Fair Value
Within one year						$	285					$	285					$	1,644					$	1,666
After one, but within five years						23,248						24,569						1,953						1,981
After five, but within ten years						18,720						19,900						—						—
After ten years						759						801						—						—
						43,012						45,555						3,597						3,647
Mortgage-backed securities, residential						241,357						251,307						—						—
SBA loan pools						20,247						20,199						—						—
Total						$	304,616					$	317,061					$	3,597					$	3,647

Gain (Loss) on Securities

The proceeds from sales and calls of securities resulting in gains or losses for the three months ended June 30, 2020 and 2019 are listed below (in thousands):

						2020						2019
Proceeds						$	—					$	15,200
Gross gains						—						79
Gross losses						—						(60)
Tax expense						—						5

The proceeds from sales and calls of securities resulting in gains or losses for the six months ended June 30, 2020 and 2019 are listed below (in thousands):

						2020						2019
Proceeds						$	—					$	15,200
Gross gains						—						79
Gross losses						—						(60)
Tax expense						—						5

Investment securities available for sale in an unrealized loss position

The following tables summarize the investment securities available for sale with unrealized losses at June 30, 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
June 30, 2020			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
Mortgage-backed securities, residential			$	—					$	—					$	1,326					$	1					$	1,326					$	1
SBA loan pools			11,378						65						1,200						35						12,578						100
Total temporarily impaired securities			$	11,378					$	65					$	2,526					$	36					$	13,904					$	101

			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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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
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