XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Note 5 - Securities | 9 Months Ended
--- | ---
Sep. 30, 2016
Notes to Financial Statements |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 5: Securities The amortized costs, gross unrealized gains, gross unrealized losses and fair values for securities available for sale by major security type are as follows.
|  | September 30, 2016 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Available for S ale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 268,925 |  |  | $ | 2,038 |  |  | $ | 253 |  |  | $ | 270,710 |
States and political subdivisions |  |  | 12,572 |  |  |  | 352 |  |  |  | --- |  |  |  | 12,924 |
Mortgage-backed securities |  |  | 932 |  |  |  | 103 |  |  |  | --- |  |  |  | 1,035 |
Corporate debt securities |  |  | 6,016 |  |  |  | 440 |  |  |  | --- |  |  |  | 6,456 |
Other securities |  |  | 189 |  |  |  | --- |  |  |  | 37 |  |  |  | 152 |
Total securities available for sale |  | $ | 288,634 |  |  | $ | 2,933 |  |  | $ | 290 |  |  | $ | 291,277 |
|  | December 31, 2015 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Available for S ale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 216,897 |  |  | $ | 519 |  |  | $ | 4,952 |  |  | $ | 212,464 |
States and political subdivisions |  |  | 15,934 |  |  |  | 541 |  |  |  | --- |  |  |  | 16,475 |
Mortgage-backed securities |  |  | 1,199 |  |  |  | 120 |  |  |  | --- |  |  |  | 1,319 |
Corporate debt securities |  |  | 6,015 |  |  |  | 22 |  |  |  | 291 |  |  |  | 5,746 |
Other securities |  |  | 189 |  |  |  | --- |  |  |  | 62 |  |  |  | 127 |
Total securities available for sale |  | $ | 240,234 |  |  | $ | 1,202 |  |  | $ | 5,305 |  |  | $ | 236,131 |
The amortized cost and fair value of single maturity securities available for sale at September 30, 2016, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities included in these totals are categorized by final maturity.
|  | September 30 , 201 6 |
|  | Amortized Cost |  |  | Fair Value |
Available for S ale: |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 1,980 |  |  | $ | 2,009 |
Due after one year through five years |  |  | 192,986 |  |  |  | 193,116 |
Due after give years through ten years |  |  | 67,113 |  |  |  | 67,335 |
Due after ten years |  |  | 26,366 |  |  |  | 28,665 |
No maturity |  |  | 189 |  |  |  | 152 |
Total securities available for sale |  | $ | 288,634 |  |  | $ | 291,277 |
The Company holds restricted stock with the Federal Home Loan Bank and the Federal Reserve. Required ownership amounts are determined by the correspondent banks and the Company purchases stock from or sells stock back to the correspondents based on their calculations. The stock is held by member institutions only and is not actively traded. The Company held restricted stock of $1,170 as of September 30, 2016 and $1,129 as of December 31, 2015. The amortized costs, gross unrealized gains, gross unrealized losses and fair values for securities held to maturity by major security type are as follows.
|  | September 30, 2016 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Held to M aturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 3,934 |  |  | $ | 401 |  |  | $ | --- |  |  | $ | 4,335 |
States and political subdivisions |  |  | 132,409 |  |  |  | 6,781 |  |  |  | 25 |  |  |  | 139,165 |
Mortgage-backed securities |  |  | 281 |  |  |  | 35 |  |  |  | --- |  |  |  | 316 |
Corporate debt securities |  |  | 1,423 |  |  |  | 39 |  |  |  | --- |  |  |  | 1,462 |
Total securities held to maturity |  | $ | 138,047 |  |  | $ | 7,256 |  |  | $ | 25 |  |  | $ | 145,278 |
|  | December 31, 2015 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Held to M aturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 13,909 |  |  | $ | 288 |  |  | $ | 177 |  |  | $ | 14,020 |
States and political subdivisions |  |  | 136,373 |  |  |  | 6,179 |  |  |  | 330 |  |  |  | 142,222 |
Mortgage-backed securities |  |  | 327 |  |  |  | 36 |  |  |  | --- |  |  |  | 363 |
Corporate debt securities |  |  | 1,419 |  |  |  | 10 |  |  |  | 2 |  |  |  | 1,427 |
Total securities held to maturity |  | $ | 152,028 |  |  | $ | 6,513 |  |  | $ | 509 |  |  | $ | 158,032 |
The amortized cost and fair value of single maturity securities held to maturity at September 30, 2016, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities included in these totals are categorized by final maturity.
|  | September 30 , 201 6 |
|  | Amortized Cost |  |  | Fair Value |
Held to maturity : |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 2,813 |  |  | $ | 2,871 |
Due after one year through five years |  |  | 24,020 |  |  |  | 25,525 |
Due after give years through ten years |  |  | 16,370 |  |  |  | 17,264 |
Due after ten years |  |  | 94,844 |  |  |  | 99,618 |
Total securities held to maturity |  | $ | 138,047 |  |  | $ | 145,278 |
Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows.
|  | September 30, 2016 |
|  | Less Than 12 Months |  |  | 12 Months or More |
|  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Temporarily I mpaired S ecurities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 90,723 |  |  | $ | 253 |  |  | $ | --- |  |  | $ | --- |
States and political subdivisions |  |  | 780 |  |  |  | 1 |  |  |  | 1,440 |  |  |  | 24 |
Other securities |  |  | --- |  |  |  | --- |  |  |  | 152 |  |  |  | 37 |
Total |  | $ | 91,503 |  |  | $ | 254 |  |  | $ | 1,592 |  |  | $ | 61 |
|  | December 31, 2015 |
|  | Less Than 12 Months |  |  | 12 Months or More |
|  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Temporarily I mpaired S ecurities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 88,255 |  |  | $ | 1,800 |  |  | $ | 84,959 |  |  | $ | 3,329 |
States and political subdivisions |  |  | 3,449 |  |  |  | 24 |  |  |  | 10,161 |  |  |  | 306 |
Corporate debt securities |  |  | 4,974 |  |  |  | 292 |  |  |  | 200 |  |  |  | 1 |
Other securities |  |  | --- |  |  |  | --- |  |  |  | 127 |  |  |  | 62 |
Total |  | $ | 96,678 |  |  | $ | 2,116 |  |  | $ | 95,447 |  |  | $ | 3,698 |
The Company had 95 securities with a fair value of $93,095 that were temporarily impaired at September 30, 2016. The total unrealized loss on these securities was $315. Of the temporarily impaired total, 3 securities with a fair value of $1,592 and an unrealized loss of $61 have been in a continuous loss position for twelve months or more. The Company has determined that these securities are temporarily impaired at September 30, 2016 for the reasons set out below. States and political subdivisions. This category’s unrealized losses of $24 on 2 securities with a fair value of $1,440 are primarily the result of interest rate and market fluctuations. The contractual terms of the investments do not permit the issuer to settle the securities at a price less than the cost basis of each investment. The Company purchases only investment-grade bonds with a Moody or Standard and Poor’s rating of A or better, and that comply with regulatory requirements. Bond ratings are monitored on an ongoing basis. Municipal obligations that experience a decline in credit rating are analyzed to determine appropriate action and accounting treatment. The company performs an analysis each quarter to determine whether any investments are other-than-temporarily impaired. Because the Company does not intend to sell any of the investments and it is not likely that the Company will be required to sell any of the investments before recovery of its amortized cost basis, which may be at maturity, the Company does not consider these investments to be other-than-temporarily impaired. Other securities. The Company holds a small investment in community bank stock. One security with a fair value of $152 has an unrealized loss of $37. The value of this investment has been negatively affected by market conditions. Because the Company does not intend to sell this investment before recovery of its amortized cost basis, the Company does not consider this investment to be other-than-temporarily impaired. Restricted stock. Restricted stock is reported separately from available-for-sale securities and held-to-maturity securities. As a member of the Federal Reserve and the Federal Home Loan Bank (“FHLB”) of Atlanta, NBB is required to maintain certain minimum investments in the common stock of those entities. Required levels of investment are based upon NBB’s capital and a percentage of qualifying assets. In addition, NBB is eligible to borrow from the FHLB with borrowings collateralized by qualifying assets, primarily residential mortgage loans and NBB’s capital stock investment in the FHLB. Redemption of FHLB stock is subject to certain limitations and conditions. At its discretion, the FHLB may declare dividends on the stock. Management reviews for impairment based upon the ultimate recoverability of the cost basis of the FHLB stock, and at September 30, 2016, management did not determine any impairment. Management regularly monitors the credit quality of the investment portfolio. Changes in ratings are noted and follow-up research on the issuer is undertaken when warranted. Management intends to carefully monitor any changes in bond quality.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: 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=73527792&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: 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=6957658&loc=d3e62557-112803 Reference 7: 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=73527792&loc=d3e27161-111563 Reference 8: 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=73527792&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27405-111563 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration