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v3.21.1

Investments (Tables) | 3 Months Ended
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Mar. 31, 2021
Investments [Abstract] |
Unrealized Gain (Loss) on Investments |
(in thousands) |  | Amortized ‎Cost |  | Gross ‎Unrealized ‎Gains |  | Gross ‎Unrealized ‎Losses |  | Fair ‎Value |  | OTTI ‎in AOCL
March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 63,646 |  | $ | 545 |  | $ | 3,155 |  | $ | 61,036 |  | $ | —
Residential mortgage-backed agencies |  |  | 22,606 |  |  | — |  |  | 784 |  |  | 21,822 |  |  | —
Commercial mortgage-backed agencies |  |  | 33,257 |  |  | 274 |  |  | 774 |  |  | 32,757 |  |  | —
Collateralized mortgage obligations |  |  | 66,866 |  |  | 217 |  |  | 2,184 |  |  | 64,899 |  |  | —
Obligations of states and political subdivisions |  |  | 9,433 |  |  | 410 |  |  | — |  |  | 9,843 |  |  | —
Collateralized debt obligations |  |  | 18,556 |  |  | — |  |  | 4,907 |  |  | 13,649 |  |  | (3,526)
Total available for sale |  | $ | 214,364 |  | $ | 1,446 |  | $ | 11,804 |  | $ | 204,006 |  | $ | (3,526)
Held to Maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agencies |  | $ | 38,470 |  | $ | 1,057 |  | $ | 463 |  | $ | 39,064 |  | $ | —
Commercial mortgage-backed agencies |  |  | 9,795 |  |  | 433 |  |  | — |  |  | 10,228 |  |  | —
Collateralized mortgage obligations |  |  | 490 |  |  | 8 |  |  | — |  |  | 498 |  |  | —
Obligations of states and political subdivisions |  |  | 20,602 |  |  | 7,179 |  |  | — |  |  | 27,781 |  |  | —
Total held to maturity |  | $ | 69,357 |  | $ | 8,677 |  | $ | 463 |  | $ | 77,571 |  | $ | —
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 75,856 |  | $ | 899 |  | $ | 322 |  | $ | 76,433 |  | $ | —
Residential mortgage-backed agencies |  |  | 22,999 |  |  | — |  |  | 100 |  |  | 22,899 |  |  | —
Commercial mortgage-backed agencies |  |  | 32,549 |  |  | 529 |  |  | 36 |  |  | 33,042 |  |  | —
Collateralized mortgage obligations |  |  | 70,372 |  |  | 266 |  |  | 1 |  |  | 70,637 |  |  | —
Obligations of states and political subdivisions |  |  | 10,144 |  |  | 470 |  |  | — |  |  | 10,614 |  |  | —
Collateralized debt obligations |  |  | 18,544 |  |  | — |  |  | 5,284 |  |  | 13,260 |  |  | (3,839)
Total available for sale |  | $ | 230,464 |  | $ | 2,164 |  | $ | 5,743 |  | $ | 226,885 |  | $ | (3,839)
Held to Maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agencies |  | $ | 34,597 |  | $ | 1,173 |  | $ | 38 |  | $ | 35,732 |  | $ | —
Commercial mortgage-backed agencies |  |  | 11,716 |  |  | 587 |  |  | — |  |  | 12,303 |  |  | —
Collateralized mortgage obligations |  |  | 1,348 |  |  | 58 |  |  | — |  |  | 1,406 |  |  | —
Obligations of states and political subdivisions |  |  | 20,602 |  |  | 7,569 |  |  | — |  |  | 28,171 |  |  | —
Total held to maturity |  | $ | 68,263 |  | $ | 9,387 |  | $ | 38 |  | $ | 77,612 |  | $ | —
Gross Unrealized Losses and Fair Values of Securities |
|  | Less than 12 months |  |  |  | 12 months or more |  |
(in thousands) |  | Fair ‎Value |  | Unrealized ‎Losses |  | Number of ‎Investments |  | Fair ‎Value |  | Unrealized ‎Losses |  | Number of ‎Investments
March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 36,765 |  | $ | 3,155 |  | 7 |  | $ | — |  | $ | — |  | —
Residential mortgage-backed agencies |  |  | 21,822 |  |  | 784 |  | 2 |  |  | — |  |  | — |  | —
Commercial mortgage-backed agencies |  |  | 25,632 |  |  | 774 |  | 3 |  |  | — |  |  | — |  | —
Collateralized mortgage obligations |  |  | 55,737 |  |  | 2,184 |  | 6 |  |  | — |  |  | — |  | —
Collateralized debt obligations |  |  | — |  |  | — |  | — |  |  | 13,649 |  |  | 4,907 |  | 9
Total available for sale |  | $ | 139,956 |  | $ | 6,897 |  | 18 |  | $ | 13,649 |  | $ | 4,907 |  | 9
Held to Maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agencies |  |  | 8,849 |  |  | 463 |  | 3 |  |  | — |  |  | — |  | —
Total held to maturity |  | $ | 8,849 |  | $ | 463 |  | 3 |  | $ | — |  | $ | — |  | —
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 39,611 |  | $ | 322 |  | 7 |  | $ | — |  | $ | — |  | —
Residential mortgage-backed agencies |  |  | 22,899 |  |  | 100 |  | 2 |  |  | — |  |  | — |  | —
Commercial mortgage-backed agencies |  |  | 16,034 |  |  | 36 |  | 1 |  |  | — |  |  | — |  | —
Collateralized mortgage obligations |  |  | 39,628 |  |  | 1 |  | 4 |  |  | — |  |  | — |  | —
Collateralized debt obligations |  |  | — |  |  | — |  | — |  |  | 13,260 |  |  | 5,284 |  | 9
Total available for sale |  | $ | 118,172 |  | $ | 459 |  | 14 |  | $ | 13,260 |  | $ | 5,284 |  | 9
Held to Maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agencies |  | $ | 2,973 |  | $ | 38 |  | 1 |  | $ | — |  | $ | — |  | —
Total held to maturity |  | $ | 2,973 |  | $ | 38 |  | 1 |  | $ | — |  | $ | — |  | —
Non-Cash OTTI Credit Losses Recognized in Earnings |
|  | Three Months Ended
|  | March 31,
(in thousands) |  | 2021 |  | 2020
Balance of credit-related OTTI at January 1 |  | $ | 2,244 |  | $ | 2,446
Reduction for increases in cash flows expected to be collected |  |  | (50) |  |  | (50)
Balance of credit-related OTTI at March 31 |  | $ | 2,194 |  | $ | 2,396
Amortized Cost and Fair Values Classified by Contractual Maturity Date |
|  | March 31, 2021
(in thousands) |  | Amortized ‎Cost |  | Fair ‎Value
Contractual Maturity |  |  |  |  |  |
Available for Sale: |  |  |  |  |  |
Due after one year through five years |  | $ | 4,418 |  | $ | 4,517
Due after five years through ten years |  |  | 20,052 |  |  | 20,613
Due after ten years |  |  | 67,165 |  |  | 59,398
|  |  | 91,635 |  |  | 84,528
Residential mortgage-backed agencies |  |  | 22,606 |  |  | 21,822
Commercial mortgage-backed agencies |  |  | 33,257 |  |  | 32,757
Collateralized mortgage obligations |  |  | 66,866 |  |  | 64,899
Total available for sale |  | $ | 214,364 |  | $ | 204,006
Held to Maturity: |  |  |  |  |  |
Due after ten years |  | $ | 20,602 |  | $ | 27,781
Residential mortgage-backed agencies |  |  | 38,470 |  |  | 39,064
Commercial mortgage-backed agencies |  |  | 9,795 |  |  | 10,228
Collateralized mortgage obligations |  |  | 490 |  |  | 498
Total held to maturity |  | $ | 69,357 |  | $ | 77,571

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- Definition Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27340-111563 + Details
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