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Securities | 12 Months Ended
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Dec. 31, 2018
Available-for-sale Securities [Abstract] |
Securities | Securities Amortized costs and fair values of securities available for sale at December 31, 2018 and 2017 were as follows:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
| December 31, 2018
| (in thousands)
Obligations of U.S. government corporations and agencies | $ | 22,183 |  |  | $ | 29 |  |  | $ | (481 | ) |  | $ | 21,731 |
Mortgage-backed securities | 77,976 |  |  | 145 |  |  | (1,638 | ) |  | 76,483 |
Obligations of states and political subdivisions | 46,159 |  |  | 394 |  |  | (469 | ) |  | 46,084 |
| $ | 146,318 |  |  | $ | 568 |  |  | $ | (2,588 | ) |  | $ | 144,298 |
| December 31, 2017
| (in thousands)
Obligations of U.S. government corporations and agencies | $ | 21,565 |  |  | $ | 213 |  |  | $ | (258 | ) |  | $ | 21,520 |
Mortgage-backed securities | 61,464 |  |  | 126 |  |  | (346 | ) |  | 61,244 |
Obligations of states and political subdivisions | 49,199 |  |  | 789 |  |  | (186 | ) |  | 49,802 |
| $ | 132,228 |  |  | $ | 1,128 |  |  | $ | (790 | ) |  | $ | 132,566 |
Carrying amounts of restricted securities at December 31, 2018 and 2017 were as follows:
| December 31, 2018 |  | December 31, 2017
| (in thousands)
Federal Reserve Bank Stock | $ | 344 |  |  | $ | 344 |
Federal Home Loan Bank Stock | 686 |  |  | 623 |
Community Bankers’ Bank Stock | 140 |  |  | 140 |
| $ | 1,170 |  |  | $ | 1,107 |
The amortized cost and fair value of securities available for sale at December 31, 2018, by contractual maturity, are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid without any penalties.
|  | Amortized Cost |  | Fair Value
|  | (in thousands)
Due in one year or less |  | $ | 1,356 |  |  | $ | 1,361 |
Due after one year through five years |  | 12,011 |  |  | 12,043 |
Due after five years through ten years |  | 49,511 |  |  | 48,933 |
Due after ten years |  | 83,440 |  |  | 81,961 |
|  | $ | 146,318 |  |  | $ | 144,298 |
During the twelve months ended December 31, 2018, the Company sold $5.4 million in available for sale securities with gross gains of $62 thousand and gross losses of $45 thousand. During the twelve months ended December 31, 2017, the Company sold $20.3 million in available for sale securities with gross gains of $94 thousand and gross losses of $104 thousand. During the twelve months ended December 31, 2016, the Company sold $11.4 million in available for sale securities with gross gains of $108 thousand and gross losses of $10 thousand. The fair value and gross unrealized losses for securities available for sale, totaled by the length of time that individual securities have been in a continuous gross unrealized loss position, at December 31, 2018 and 2017 were as follows:
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| December 31, 2018
| (in thousands)
Obligations of U.S. government corporations and agencies | $ | 1,973 |  |  | $ | 6 |  |  | $ | 13,710 |  |  | $ | 475 |  |  | $ | 15,683 |  |  | $ | 481 |
Mortgage-backed securities | 16,659 |  |  | 332 |  |  | 42,966 |  |  | 1,306 |  |  | 59,625 |  |  | 1,638 |
Obligations of states and political subdivisions | 3,594 |  |  | 52 |  |  | 12,864 |  |  | 417 |  |  | 16,458 |  |  | 469 |
| $ | 22,226 |  |  | $ | 390 |  |  | $ | 69,540 |  |  | $ | 2,198 |  |  | $ | 91,766 |  |  | $ | 2,588 |
| December 31, 2017
| (in thousands)
Obligations of U.S. government corporations and agencies | $ | 4,455 |  |  | $ | 58 |  |  | $ | 7,810 |  |  | $ | 200 |  |  | $ | 12,265 |  |  | $ | 258 |
Mortgage-backed securities | 11,885 |  |  | 59 |  |  | 17,931 |  |  | 287 |  |  | 29,816 |  |  | 346 |
Obligations of states and political subdivisions | 4,071 |  |  | 27 |  |  | 4,692 |  |  | 159 |  |  | 8,763 |  |  | 186 |
| $ | 20,411 |  |  | $ | 144 |  |  | $ | 30,433 |  |  | $ | 646 |  |  | $ | 50,844 |  |  | $ | 790 |
Gross unrealized losses on available for sale securities included ninety-five (95) and fifty-four (54) debt securities at December 31, 2018 and December 31, 2017, respectively. The Company evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. The Company’s mortgage-backed securities are issued by U.S. government agencies, which guarantee payments to investors regardless of the status of the underlying mortgages. Consideration is given to the length of time and the amount of an unrealized loss, the financial condition of the issuer, and the intent and ability of the Company to retain its investment in the issuer long enough to allow for an anticipated recovery in fair value. The fair value of a security reflects its liquidity as compared to similar instruments, current market rates on similar instruments, and the creditworthiness of the issuer. Absent any change in the liquidity of a security or the creditworthiness of the issuer, prices will decline as market rates rise and vice-versa. The primary cause of the unrealized losses at December 31, 2018 and December 31, 2017 was changes in market interest rates. Since the losses can be primarily attributed to changes in market interest rates and not expected cash flows or an issuer’s financial condition, the unrealized losses are deemed to be temporary and management does not intend to sell and it is unlikely that management will be required to sell the securities prior to their anticipated recovery. The Company monitors the financial condition of these issuers continuously and will record other-than-temporary impairment if the recovery of value is unlikely. The Company’s securities are exposed to various risks, such as interest rate, market, currency and credit risks. Due to the level of risk associated with certain securities and the level of uncertainty related to changes in the value of securities, it is at least reasonably possible that changes in risks in the near term would materially affect securities reported in the financial statements. In addition, recent economic uncertainty and market events have led to unprecedented volatility in currency, commodity, credit and equity markets culminating in failures of some banking and financial services firms and government intervention to solidify others. These events underscore the level of investment risk associated with the current economic environment, and accordingly the level of risk in the Company’s securities. Securities having a carrying value of $2.9 million at December 31, 2018 were pledged for various purposes required by law.

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27198-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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