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Note 4 - Securities | 6 Months Ended
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Jun. 30, 2017
Notes to Financial Statements |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4 : 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.
|  | June 30 , 2017 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Available for S ale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 294,602 |  |  | $ | 1,006 |  |  | $ | 2,832 |  |  | $ | 292,776 |
State s and political subdivisions |  |  | 8,283 |  |  |  | 159 |  |  |  | --- |  |  |  | 8,442 |
Mortgage-backed securities |  |  | 711 |  |  |  | 72 |  |  |  | --- |  |  |  | 783 |
Corporate debt securities |  |  | 6,015 |  |  |  | 255 |  |  |  | 28 |  |  |  | 6,242 |
Other securities |  |  | 189 |  |  |  | 3 |  |  |  | --- |  |  |  | 192 |
Total securities available for sale |  | $ | 309,800 |  |  | $ | 1,495 |  |  | $ | 2,860 |  |  | $ | 308,435 |
|  | December 31, 201 6 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Available for S ale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 291,271 |  |  | $ | 492 |  |  | $ | 6,165 |  |  | $ | 285,598 |
States and political subdivisions |  |  | 11,482 |  |  |  | 211 |  |  |  | --- |  |  |  | 11,693 |
Mortgage-backed securities |  |  | 845 |  |  |  | 85 |  |  |  | --- |  |  |  | 930 |
Corporate debt securities |  |  | 6,015 |  |  |  | 20 |  |  |  | 137 |  |  |  | 5,898 |
Other securities |  |  | 189 |  |  |  | --- |  |  |  | 26 |  |  |  | 163 |
Total securities available for sale |  | $ | 309,802 |  |  | $ | 808 |  |  | $ | 6,328 |  |  | $ | 304,282 |
The amortized cost and fair value of single maturity securities available for sale at June 30, 2017, 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.
|  | June 30 , 2017 |
|  | Amortized Cost |  |  | Fair Value |
Available for S ale: |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 5,260 |  |  | $ | 5,256 |
Due after one year through five years |  |  | 209,331 |  |  |  | 207,524 |
Due after give years through ten years |  |  | 69,853 |  |  |  | 69,207 |
Due after ten years |  |  | 25,167 |  |  |  | 26,256 |
No maturity |  |  | 189 |  |  |  | 192 |
Total securities available for sale |  | $ | 309,800 |  |  | $ | 308,435 |
The amortized costs, gross unrealized gains, gross unrealized losses and fair values for securities held to maturity by major security type are as follows.
|  | June 30 , 2017 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Held to M aturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 3,934 |  |  | $ | 243 |  |  | $ | --- |  |  | $ | 4,177 |
State s and political subdivisions |  |  | 125,563 |  |  |  | 4,356 |  |  |  | 55 |  |  |  | 129,864 |
Mortgage-backed securities |  |  | 236 |  |  |  | 26 |  |  |  | --- |  |  |  | 262 |
Corporate debt securities |  |  | 979 |  |  |  | 15 |  |  |  | --- |  |  |  | 994 |
Total securities held to maturity |  | $ | 130,712 |  |  | $ | 4,640 |  |  | $ | 55 |  |  | $ | 135,297 |
|  | December 31, 201 6 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Held to M aturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 3,934 |  |  | $ | 201 |  |  | $ | --- |  |  | $ | 4,135 |
States and political subdivisions |  |  | 129,783 |  |  |  | 3,579 |  |  |  | 1,082 |  |  |  | 132,280 |
Mortgage-backed securities |  |  | 265 |  |  |  | 30 |  |  |  | --- |  |  |  | 295 |
Corporate debt securities |  |  | 975 |  |  |  | 7 |  |  |  | --- |  |  |  | 982 |
Total securities held to maturity |  | $ | 134,957 |  |  | $ | 3,817 |  |  | $ | 1,082 |  |  | $ | 137,692 |
The amortized cost and fair value of single maturity securities held to maturity at June 30, 2017, 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.
|  | June 30 , 2017 |
|  | Amortized Cost |  |  | Fair Value |
Held to maturity : |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 7,291 |  |  | $ | 7,434 |
Due after one year through five years |  |  | 28,071 |  |  |  | 29,623 |
Due after give years through ten years |  |  | 22,723 |  |  |  | 23,633 |
Due after ten years |  |  | 72,627 |  |  |  | 74,607 |
Total securities held to maturity |  | $ | 130,712 |  |  | $ | 135,297 |
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.
|  | June 30 , 2017 |
|  | Less Than 12 Months |  |  | 12 Months or More |
|  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Temporarily I mpaired S ecurities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Gove rnment agencies and corporations |  | $ | 241,874 |  |  | $ | 2,781 |  |  | $ | 7,949 |  |  | $ | 51 |
State s and political subdivisions |  |  | 3,702 |  |  |  | 23 |  |  |  | 789 |  |  |  | 32 |
Corporate debt securities |  |  | 949 |  |  |  | 28 |  |  |  | --- |  |  |  | --- |
Total |  | $ | 246,525 |  |  | $ | 2,832 |  |  | $ | 8,738 |  |  | $ | 83 |
|  | December 31, 201 6 |
|  | 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 |  | $ | 260,150 |  |  | $ | 6,161 |  |  | $ | 996 |  |  | $ | 4 |
States and political subdivisions |  |  | 31,257 |  |  |  | 934 |  |  |  | 1,316 |  |  |  | 148 |
Corporate debt securities |  |  | 3,888 |  |  |  | 137 |  |  |  | --- |  |  |  | --- |
Other securities |  |  | --- |  |  |  | --- |  |  |  | 163 |  |  |  | 26 |
Total |  | $ | 295,295 |  |  | $ | 7,232 |  |  | $ | 2,475 |  |  | $ | 178 |
The Company had 261 securities with a fair value of $255,263 that were temporarily impaired at June 30, 2017. The total unrealized loss on these securities was $2,915. Of the temporarily impaired total, 9 securities with a fair value of $8,738 and an unrealized loss of $83 have been in a continuous loss position for twelve months or more. The Company has determined that these securities are temporarily impaired at June 30, 2017 for the reasons set out below. U.S. Government agencies . The unrealized losses of $51 on US Government agency securities stemmed from 8 securities with a fair value of $7,949. The unrealized loss was caused by interest rate and market fluctuations. The contractual term of the investments do not permit the issuers to settle the securities at a price less than the cost basis of the investments. The Company is monitoring bond market trends to develop strategies to address unrealized losses. 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 basis, which may be at maturity, the Company does not consider these investments to be other-than-temporarily impaired. States and political subdivisions. This category’s unrealized loss of $32 on 1 security with a fair value of $789 is primarily the result of interest rate and market fluctuations. The contractual terms of the investment does not permit the issuer to settle the security at a price less than the cost basis of the 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. Restricted stock. The Company held restricted stock of $1,200 as of June 30, 2017 and $1,170 as of December 31, 2016. 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 ownership amounts are determined by the correspondent banks based upon NBB’s capital and percentage of qualifying assets. 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. Redemption of FHLB stock is subject to certain limitations and conditions. At its discretion, the FHLB may declare dividends on the stock. In addition to dividends, NBB also benefits from its membership with FHLB through eligibility to borrow from the FHLB, using as collateral NBB’s capital stock investment in the FHLB and qualifying NBB real estate mortgage loans totaling $480,370 at June 30, 2017. Management reviews for impairment based upon the ultimate recoverability of the cost basis of the FHLB stock, and at June 30, 2017, 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.

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