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Securities | 9 Months Ended
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Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract] |
Securities | Securities The following tables summarize securities available-for-sale and securities held-to-maturity as of September 30, 2018 and December 31, 2017.
|  | September 30, 2018
|  | Amortized |  | Gross Unrealized |  | Fair
|  | Cost |  | Gains |  | Losses |  | Value
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 115,176 |  |  | $ | 20 |  |  | $ | (2,436 | ) |  | $ | 112,760 |
Municipal securities |  | 97,160 |  |  | 39 |  |  | (6,119 | ) |  | 91,080 |
Mortgage-backed securities |  | 237,703 |  |  | 33 |  |  | (12,044 | ) |  | 225,692 |
Asset-backed securities |  | 5,003 |  |  | — |  |  | (43 | ) |  | 4,960 |
Corporate securities |  | 36,684 |  |  | 41 |  |  | (2,220 | ) |  | 34,505 |
Total available-for-sale |  | $ | 491,726 |  |  | $ | 133 |  |  | $ | (22,862 | ) |  | $ | 468,997 |
|  | September 30, 2018
|  | Amortized |  | Gross Unrealized |  | Fair
|  | Cost |  | Gains |  | Losses |  | Value
Securities held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 10,159 |  |  | $ | — |  |  | $ | (640 | ) |  | $ | 9,519 |
Corporate securities |  | 10,041 |  |  | 24 |  |  | (74 | ) |  | 9,991 |
Total held-to-maturity |  | $ | 20,200 |  |  | $ | 24 |  |  | $ | (714 | ) |  | $ | 19,510 |
|  | December 31, 2017
|  | Amortized |  | Gross Unrealized |  | Fair
|  | Cost |  | Gains |  | Losses |  | Value
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 133,424 |  |  | $ | 531 |  |  | $ | (765 | ) |  | $ | 133,190 |
Municipal securities |  | 97,370 |  |  | 366 |  |  | (1,359 | ) |  | 96,377 |
Mortgage-backed securities |  | 215,452 |  |  | 15 |  |  | (5,747 | ) |  | 209,720 |
Asset-backed securities |  | 5,000 |  |  | 9 |  |  | — |  |  | 5,009 |
Corporate securities |  | 27,111 |  |  | 103 |  |  | (1,167 | ) |  | 26,047 |
Other securities |  | 3,000 |  |  | — |  |  | (68 | ) |  | 2,932 |
Total available-for-sale |  | $ | 481,357 |  |  | $ | 1,024 |  |  | $ | (9,106 | ) |  | $ | 473,275 |
|  | December 31, 2017
|  | Amortized |  | Gross Unrealized |  | Fair
|  | Cost |  | Gains |  | Losses |  | Value
Securities held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 10,164 |  |  | $ | 40 |  |  | $ | (357 | ) |  | $ | 9,847 |
Corporate securities |  | 9,045 |  |  | 191 |  |  | — |  |  | 9,236 |
Total held-to-maturity |  | $ | 19,209 |  |  | $ | 231 |  |  | $ | (357 | ) |  | $ | 19,083 |
The carrying value of securities at September 30, 2018 is shown below by their contractual maturity date. Actual maturities will differ because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | Available-for-Sale
|  | Amortized Cost |  | Fair Value
One to five years |  | $ | 425 |  |  | $ | 403 |
Five to ten years |  | 63,004 |  |  | 61,057 |
After ten years |  | 185,591 |  |  | 176,885 |
|  | 249,020 |  |  | 238,345 |
Mortgage-backed securities |  | 237,703 |  |  | 225,692 |
Asset-backed securities |  | 5,003 |  |  | 4,960 |
Total |  | $ | 491,726 |  |  | $ | 468,997 |
|  | Held-to-Maturity
|  | Amortized Cost |  | Fair Value
Five to ten years |  | $ | 14,286 |  |  | $ | 13,956 |
After ten years |  | 5,914 |  |  | 5,554 |
Total |  | $ | 20,200 |  |  | $ | 19,510 |
There were no gross gains or losses resulting from sales of available-for-sale securities during the three and nine months ended September 30, 2018 and gross losses of $0.0 million for the three and nine months ended September 30, 2017. Certain investments in debt securities are reported in the condensed consolidated financial statements at an amount less than their historical cost. The total fair value of these investments at September 30, 2018 and December 31, 2017 was $466.6 million and $354.6 million, which was approximately 96% and 72%, respectively, of the Company’s available-for-sale and held-to-maturity securities portfolios. These declines resulted primarily from fluctuations in market interest rates after purchase. Management believes the declines in fair value for these securities are temporary. Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced with the resulting loss recognized in net income in the period the other-than-temporary impairment (“OTTI”) is identified. U. S. Government-Sponsored Agencies, Municipal Securities and Corporate Securities The unrealized losses on the Company’s investments in securities issued by U.S. Government-sponsored agencies, municipal organizations and corporate entities were caused by interest rate changes. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be upon maturity, the Company does not consider those investments to be other-than-temporarily impaired at September 30, 2018. Mortgage-Backed Securities The unrealized losses on the Company’s investments in mortgage-backed securities were caused by interest rate changes. The Company expects to recover the amortized cost bases over the term of the securities. Because the Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be upon maturity, the Company does not consider those investments to be other-than-temporarily impaired at September 30, 2018.
|  | September 30, 2018
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 75,589 |  |  | $ | (1,019 | ) |  | $ | 31,049 |  |  | $ | (1,417 | ) |  | $ | 106,638 |  |  | $ | (2,436 | )
Municipal securities |  | 30,647 |  |  | (1,292 | ) |  | 56,008 |  |  | (4,827 | ) |  | 86,655 |  |  | (6,119 | )
Mortgage-backed securities |  | 55,063 |  |  | (1,061 | ) |  | 167,901 |  |  | (10,983 | ) |  | 222,964 |  |  | (12,044 | )
Asset-backed securities |  | 4,960 |  |  | (43 | ) |  | — |  |  | — |  |  | 4,960 |  |  | (43 | )
Corporate securities |  | 9,548 |  |  | (33 | ) |  | 19,813 |  |  | (2,187 | ) |  | 29,361 |  |  | (2,220 | )
Total |  | $ | 175,807 |  |  | $ | (3,448 | ) |  | $ | 274,771 |  |  | $ | (19,414 | ) |  | $ | 450,578 |  |  | $ | (22,862 | )
|  | September 30, 2018
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Securities held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 9,519 |  |  | $ | (640 | ) |  | $ | — |  |  | $ | — |  |  | $ | 9,519 |  |  | $ | (640 | )
Corporate securities |  | 6,467 |  |  | (74 | ) |  | — |  |  | — |  |  | 6,467 |  |  | (74 | )
Total |  | $ | 15,986 |  |  | $ | (714 | ) |  | $ | — |  |  | $ | — |  |  | $ | 15,986 |  |  | $ | (714 | )
|  | December 31, 2017
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Securities available-for-sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored agencies |  | $ | 30,194 |  |  | $ | (256 | ) |  | $ | 22,824 |  |  | $ | (509 | ) |  | $ | 53,018 |  |  | $ | (765 | )
Municipal securities |  | 5,638 |  |  | (77 | ) |  | 57,128 |  |  | (1,282 | ) |  | 62,766 |  |  | (1,359 | )
Mortgage-backed securities |  | 29,542 |  |  | (251 | ) |  | 177,266 |  |  | (5,496 | ) |  | 206,808 |  |  | (5,747 | )
Corporate securities |  | 1,852 |  |  | (148 | ) |  | 18,981 |  |  | (1,019 | ) |  | 20,833 |  |  | (1,167 | )
Other securities |  | — |  |  | — |  |  | 2,932 |  |  | (68 | ) |  | 2,932 |  |  | (68 | )
Total |  | $ | 67,226 |  |  | $ | (732 | ) |  | $ | 279,131 |  |  | $ | (8,374 | ) |  | $ | 346,357 |  |  | $ | (9,106 | )
|  | December 31, 2017
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Securities held-to-maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 8,255 |  |  | $ | (357 | ) |  | $ | — |  |  | $ | — |  |  | $ | 8,255 |  |  | $ | (357 | )
Total |  | $ | 8,255 |  |  | $ | (357 | ) |  | $ | — |  |  | $ | — |  |  | $ | 8,255 |  |  | $ | (357 | )
There were no amounts reclassified from accumulated other comprehensive loss to the condensed consolidated statements of income during the three and nine months ended September 30, 2018. Amounts reclassified from accumulated other comprehensive loss and the affected line items in the condensed consolidated statements of income during the three and nine months ended September 30, 2017 were as follows:
Details About Accumulated Other Comprehensive Loss Components |  | Amounts Reclassified from Accumulated Other Comprehensive Loss for the |  | Affected Line Item in the Statements of Income
| Three Months Ended September 30, 2017 |  | Nine Months Ended September 30, 2017 |
Realized gains and losses on securities available-for-sale |  |  |  |  |  |  |  |
Loss realized in earnings |  | $ | (8 | ) |  | $ | (8 | ) |  | Other
Total reclassified amount before tax |  | (8 | ) |  | (8 | ) |  | Income Before Income Taxes
Tax benefit |  | (3 | ) |  | (3 | ) |  | Income Tax Provision
Total reclassifications out of accumulated other comprehensive loss |  | $ | (5 | ) |  | $ | (5 | ) |  | Net Income

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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