XML 24 R13.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Note 4 - Securities | 3 Months Ended
--- | ---
Mar. 31, 2018
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.
|  | March 31, 2018 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Available for S ale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 322,585 |  |  | $ | 393 |  |  | $ | 8,089 |  |  | $ | 314,889 |
States and political subdivisions |  |  | 16,101 |  |  |  | 69 |  |  |  | 392 |  |  |  | 15,778 |
Mortgage-backed securities |  |  | 558 |  |  |  | 50 |  |  |  | --- |  |  |  | 608 |
Corporate debt securities |  |  | 6,016 |  |  |  | 42 |  |  |  | 122 |  |  |  | 5,936 |
Total securities available for sale |  | $ | 345,260 |  |  | $ | 554 |  |  | $ | 8,603 |  |  | $ | 337,211 |
|  | December 31, 2017 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Available for S ale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 312,604 |  |  | $ | 609 |  |  | $ | 5,494 |  |  | $ | 307,719 |
States and political subdivisions |  |  | 16,853 |  |  |  | 100 |  |  |  | 119 |  |  |  | 16,834 |
Mortgage-backed securities |  |  | 602 |  |  |  | 57 |  |  |  | --- |  |  |  | 659 |
Corporate debt securities |  |  | 6,016 |  |  |  | 188 |  |  |  | 29 |  |  |  | 6,175 |
Total securities available for sale |  | $ | 336,075 |  |  | $ | 954 |  |  | $ | 5,642 |  |  | $ | 331,387 |
The amortized cost and fair value of single maturity securities available for sale at March 31, 2018, 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.
|  | March 31, 2018 |
|  | Amortized Cost |  |  | Fair Value |
Available for S ale: |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 47,263 |  |  | $ | 46,985 |
Due after one year through five years |  |  | 181,571 |  |  |  | 176,935 |
Due after give years through ten years |  |  | 78,203 |  |  |  | 75,727 |
Due after ten years |  |  | 38,223 |  |  |  | 37,564 |
Total securities available for sale |  | $ | 345,260 |  |  | $ | 337,211 |
The amortized costs, gross unrealized gains, gross unrealized losses and fair values for securities held to maturity by major security type are as follows.
|  | March 31, 2018 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Held to M aturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 3,934 |  |  | $ | 99 |  |  | $ | 1 |  |  | $ | 4,032 |
States and political subdivisions |  |  | 117,791 |  |  |  | 2,184 |  |  |  | 649 |  |  |  | 119,326 |
Mortgage-backed securities |  |  | 196 |  |  |  | 18 |  |  |  | --- |  |  |  | 214 |
Corporate debt securities |  |  | 984 |  |  |  | --- |  |  |  | 7 |  |  |  | 977 |
Total securities held to maturity |  | $ | 122,905 |  |  | $ | 2,301 |  |  | $ | 657 |  |  | $ | 124,549 |
|  | December 31, 2017 |
|  | Amortized Costs |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Values |
Held to M aturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 3,934 |  |  | $ | 167 |  |  | $ | --- |  |  | $ | 4,101 |
States and political subdivisions |  |  | 122,039 |  |  |  | 2,929 |  |  |  | 173 |  |  |  | 124,795 |
Mortgage-backed securities |  |  | 209 |  |  |  | 21 |  |  |  | --- |  |  |  | 230 |
Corporate debt securities |  |  | 982 |  |  |  | 5 |  |  |  | --- |  |  |  | 987 |
Total securities held to maturity |  | $ | 127,164 |  |  | $ | 3,122 |  |  | $ | 173 |  |  | $ | 130,113 |
The amortized cost and fair value of single maturity securities held to maturity at March 31, 2018, 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.
|  | March 31, 2018 |
|  | Amortized Cost |  |  | Fair Value |
Held to maturity : |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 12,536 |  |  | $ | 12,714 |
Due after one year through five years |  |  | 21,962 |  |  |  | 22,712 |
Due after give years through ten years |  |  | 27,323 |  |  |  | 27,869 |
Due after ten years |  |  | 61,084 |  |  |  | 61,254 |
Total securities held to maturity |  | $ | 122,905 |  |  | $ | 124,549 |
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.
|  | March 31, 2018 |
|  | 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 |  | $ | 76,276 |  |  | $ | 1,987 |  |  | $ | 226,261 |  |  | $ | 6,103 |
States and political subdivisions |  |  | 29,753 |  |  |  | 843 |  |  |  | 2,889 |  |  |  | 198 |
Corporate debt securities |  |  | 4,970 |  |  |  | 61 |  |  |  | 909 |  |  |  | 68 |
Total |  | $ | 110,999 |  |  | $ | 2,891 |  |  | $ | 230,059 |  |  | $ | 6,369 |
|  | December 31, 2017 |
|  | 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 |  | $ | 68,380 |  |  | $ | 871 |  |  | $ | 225,738 |  |  | $ | 4,623 |
States and political subdivisions |  |  | 18,688 |  |  |  | 194 |  |  |  | 2,989 |  |  |  | 98 |
Corporate debt securities |  |  | --- |  |  |  | --- |  |  |  | 948 |  |  |  | 29 |
Total |  | $ | 87,068 |  |  | $ | 1,065 |  |  | $ | 229,675 |  |  | $ | 4,750 |
The Company had 377 securities with a fair value of $341,058 that were temporarily impaired at March 31, 2018. The total unrealized loss on these securities was $9,260. Of the temporarily impaired total, 238 securities with a fair value of $230,059 and an unrealized loss of $6,369 have been in a continuous loss position for twelve months or more. The Company has determined that these securities are temporarily impaired at March 31, 2018 for the reasons set out below. U.S. Government agencies . The unrealized losses of $6,103 on US Government agency securities stemmed from 233 securities with a fair value of $226,261. The unrealized losses were caused by interest rate and market fluctuations. The contractual term 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 is monitoring bond market trends to develop strategies to address unrealized losses. Because the Company does not intend to sell the investment and it is not likely that the Company will be required to sell the investment before recovery of its amortized cost basis, which may be at maturity, the Company does not consider this investment to be other-than-temporarily impaired. States and political subdivisions. This category’s unrealized loss of $198 on 4 securities with a fair value of $2,889 is primarily the result of interest rate and market fluctuations. The Company reviewed financial statements and cash flows for the each of the securities in continuous loss position for more than 12 months. The Company’s analysis determined that the unrealized losses are primarily the result of interest rate and market fluctuations and not associated with impaired financial status. 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. 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. Corporate debt securities . The unrealized loss of $68 on one corporate debt security with a fair value of $909 was caused by market and interest rate fluctuations and is not associated with impaired financial status. 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. Because the Company does not intend to sell the investment and it is not likely that the Company will be required to sell the investment before recovery of its amortized cost basis, which may be at maturity, the Company does not consider the investment to be other-than-temporarily impaired. Restricted stock. The Company held restricted stock of $1,221 as of March 31, 2018 and $1,200 as of December 31, 2017. 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. 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 $488,193 at March 31, 2018. Management reviews for impairment based upon the ultimate recoverability of the cost basis of the FHLB stock, and at March 31, 2018, 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration