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Investments (Tables)
9 Months Ended
Sep. 30, 2019
Investments [Abstract]  
Unrealized Gain (Loss) On Investments





 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

Gross

 

Gross

 

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair

September 30, 2019

 

cost

 

gains

 

losses

 

value

U.S. Government and Agency securities

 

$

9,697 

 

$

49 

 

$

(19)

 

$

9,727 

Municipal securities

 

 

73,092 

 

 

1,857 

 

 

(258)

 

 

74,691 

Trust preferred securities

 

 

4,091 

 

 

 —

 

 

(178)

 

 

3,913 

Agency mortgage-backed securities

 

 

50,372 

 

 

608 

 

 

(104)

 

 

50,876 

Private-label mortgage-backed securities

 

 

420 

 

 

36 

 

 

 —

 

 

456 

Asset-backed securities

 

 

7,789 

 

 

 —

 

 

(124)

 

 

7,665 



 

$

145,461 

 

$

2,550 

 

$

(683)

 

$

147,328 







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

Gross

 

Gross

 

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair

December 31, 2018

 

cost

 

gains

 

losses

 

value

U.S. Government and Agency securities

 

$

9,120 

 

$

21 

 

$

(65)

 

$

9,076 

Municipal securities

 

 

67,811 

 

 

320 

 

 

(484)

 

 

67,647 

Trust preferred securities

 

 

4,074 

 

 

 —

 

 

(316)

 

 

3,758 

Agency mortgage-backed securities

 

 

45,241 

 

 

65 

 

 

(648)

 

 

44,658 

Private-label mortgage-backed securities

 

 

457 

 

 

31 

 

 

 —

 

 

488 

Asset-backed securities

 

 

5,869 

 

 

 —

 

 

(24)

 

 

5,845 



 

$

132,572 

 

$

437 

 

$

(1,537)

 

$

131,472 



Amortized Cost And Fair Value Of Debt Securities, By Contractual Maturity



 

 

 

 

 

 



 

 

 

 

 

 

(Dollars in thousands)

 

Amortized
cost

 

Fair
value

Due in one year or less

 

$

17,427 

 

$

17,514 

Due after one year through five years

 

 

18,193 

 

 

18,349 

Due after five years through ten years

 

 

43,931 

 

 

44,923 

Due after ten years

 

 

15,118 

 

 

15,210 



 

 

94,669 

 

 

95,996 

Mortgage-backed securities

 

 

50,792 

 

 

51,332 



 

$

145,461 

 

$

147,328 



Composition Of Net Realized Securities Gains



 

 

 

 

 

 

 

 

 

 

 

 



 

For the Three Months Ended

 

For the Nine Months Ended



 

September 30,

 

September 30,

(Dollars in thousands)

 

2019

 

2018

 

2019

 

2018

Proceeds

 

$

1,826 

 

$

304 

 

$

18,781 

 

$

4,115 



 

 

 

 

 

 

 

 

 

 

 

 

Gross gains realized

 

 

 

 

 

 

285 

 

 

67 

Gross losses realized

 

 

(1)

 

 

 —

 

 

(29)

 

 

(11)

Net gains (losses) realized

 

$

 

$

 

$

256 

 

$

56 



 

 

 

 

 

 

 

 

 

 

 

 

Tax (provision) benefit on net gains (losses) realized

 

$

(1)

 

$

(1)

 

$

(54)

 

$

(12)



Schedule Of Unrealized Loss On Investments



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



September 30, 2019



Less than 12 months

 

12 months or more

 

Total



Fair

 

Unrealized

 

 

 

Fair

 

Unrealized

 

 

 

Fair

 

Unrealized

 

 

(Dollars in thousands)

Value

 

Losses

 

Count

 

Value

 

Losses

 

Count

 

Value

 

Losses

 

Count



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government and Agency
  securities

$

2,263 

 

$

(10)

 

 

$

1,516 

 

$

(9)

 

 

$

3,779 

 

$

(19)

 

15 

Municipal securities

 

13,737 

 

 

(226)

 

15 

 

 

3,166 

 

 

(32)

 

 

 

16,903 

 

 

(258)

 

20 

Trust preferred securities

 

 —

 

 

 —

 

 —

 

 

3,913 

 

 

(178)

 

 

 

3,913 

 

 

(178)

 

Agency mortgage-backed securities

 

8,073 

 

 

(47)

 

14 

 

 

8,568 

 

 

(57)

 

31 

 

 

16,641 

 

 

(104)

 

45 

Asset-backed securities

 

4,759 

 

 

(73)

 

 

 

2,906 

 

 

(51)

 

 

 

7,665 

 

 

(124)

 

10 

Total temporarily impaired
  securities

$

28,832 

 

$

(356)

 

41 

 

$

20,069 

 

$

(327)

 

54 

 

$

48,901 

 

$

(683)

 

95 









 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



December 31, 2018



Less than 12 months

 

12 months or more

 

Total



Fair

 

Unrealized

 

 

 

Fair

 

Unrealized

 

 

 

Fair

 

Unrealized

 

 

(Dollars in thousands)

Value

 

Losses

 

Count

 

Value

 

Losses

 

Count

 

Value

 

Losses

 

Count



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government and Agency
  securities

$

2,071 

 

$

(6)

 

 

$

5,175 

 

$

(59)

 

14 

 

$

7,246 

 

$

(65)

 

16 

Municipal securities

 

5,832 

 

 

(12)

 

10 

 

 

25,091 

 

 

(472)

 

42 

 

 

30,923 

 

 

(484)

 

52 

Trust preferred securities

 

2,008 

 

 

(159)

 

 

 

1,750 

 

 

(157)

 

 

 

3,758 

 

 

(316)

 

Agency mortgage-backed securities

 

7,687 

 

 

(46)

 

16 

 

 

30,511 

 

 

(602)

 

74 

 

 

38,198 

 

 

(648)

 

90 

Asset-backed securities

 

5,826 

 

 

(22)

 

 

 

19 

 

 

(2)

 

 

 

5,845 

 

 

(24)

 

Total temporarily impaired
  securities

$

23,424 

 

$

(245)

 

37 

 

$

62,546 

 

$

(1,292)

 

134 

 

$

85,970 

 

$

(1,537)

 

171 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Other Than Temporary Impairment, Credit Losses Recognized In Earnings



 

 

 

 

 

 



 

 

 

 

 

 



 

Nine Months Ended

(Dollars in thousands)

 

September 30,



 

2019

 

2018

Balance of cumulative credit-related OTTI at January 1

 

$

272 

 

$

595 

Additions for credit-related OTTI not previously recognized

 

 

 —

 

 

 —

Additional increases for credit-related OTTI previously recognized when there is

 

 

 

 

 

 

    no intent to sell and no requirement to sell before recovery of amortized cost basis

 

 

 —

 

 

 —

Decreases for previously recognized credit-related OTTI because there was an intent to sell

 

 

 —

 

 

 —

Reduction for increases in cash flows expected to be collected

 

 

 —

 

 

 —

Balance of credit-related OTTI at September 30

 

$

272 

 

$

595