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Note 4 - Securities | 3 Months Ended
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Mar. 31, 2020
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, 2020
|  | Amortized Costs |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Values
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 96,752 |  |  | $ | 4,879 |  |  | $ | 24 |  |  | $ | 101,607 |
States and political subdivisions |  |  | 100,811 |  |  |  | 2,028 |  |  |  | 542 |  |  |  | 102,297 |
Mortgage-backed securities |  |  | 232,481 |  |  |  | 2,469 |  |  |  | 3,961 |  |  |  | 230,989 |
Corporate debt securities |  |  | 4,000 |  |  |  | 126 |  |  |  | --- |  |  |  | 4,126 |
Total securities available for sale |  | $ | 434,044 |  |  | $ | 9,502 |  |  | $ | 4,527 |  |  | $ | 439,019 |
|  | December 31, 2019
|  | Amortized Costs |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Values
Available for S ale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 119,903 |  |  | $ | 1,995 |  |  | $ | 775 |  |  | $ | 121,123 |
States and political subdivisions |  |  | 88,092 |  |  |  | 791 |  |  |  | 644 |  |  |  | 88,239 |
Mortgage-backed securities |  |  | 223,173 |  |  |  | 45 |  |  |  | 1,435 |  |  |  | 221,783 |
Corporate debt securities |  |  | 3,998 |  |  |  | 120 |  |  |  | --- |  |  |  | 4,118 |
Total securities available for sale |  | $ | 435,166 |  |  | $ | 2,951 |  |  | $ | 2,854 |  |  | $ | 435,263 |
The amortized cost and fair value of single maturity securities available for sale at March 31, 2020, 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 , 2020
|  | Amortized Cost |  | Fair Value
Available for S ale: |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 19,102 |  |  | $ | 19,196 |
Due after one year through five years |  |  | 6,356 |  |  |  | 6,560 |
Due after five years through ten years |  |  | 150,410 |  |  |  | 153,322 |
Due after ten years |  |  | 258,176 |  |  |  | 259,941 |
Total securities available for sale |  | $ | 434,044 |  |  | $ | 439,019 |
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, 2020
|  | Less Than 12 Months |  | 12 Months or More
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Temporarily Impaired Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies and corporations |  | $ | 4,972 |  |  | $ | 24 |  |  | $ | --- |  |  | $ | --- |
States and political subdivisions |  |  | 14,157 |  |  |  | 500 |  |  |  | 596 |  |  |  | 42 |
Mortgage-backed securities |  |  | 163,603 |  |  |  | 3,961 |  |  |  | --- |  |  |  | --- |
Total |  | $ | 182,732 |  |  | $ | 4,485 |  |  | $ | 596 |  |  | $ | 42 |
|  | December 31, 2019
|  | 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 |  | $ | 53,244 |  |  | $ | 738 |  |  | $ | 38,962 |  |  | $ | 37 |
States and political subdivisions |  |  | 35,934 |  |  |  | 596 |  |  |  | 591 |  |  |  | 48 |
Mortgage-backed securities |  |  | 181,279 |  |  |  | 1,435 |  |  |  | --- |  |  |  | --- |
Total |  | $ | 270,457 |  |  | $ | 2,769 |  |  | $ | 39,553 |  |  | $ | 85 |
The Company had 57 securities with a fair value of $183,328 that were temporarily impaired at March 31, 2020. The total unrealized loss on these securities was $4,527. Of the temporarily impaired total, 1 security with a fair value of $596 and an unrealized loss of $42 has been in a continuous loss position for 12 months or more. The Company has determined that this security is temporarily impaired at March 31, 2020 for the reasons set out below. States and political subdivisions. This category’s unrealized loss of $42 on 1 security with a fair value of $596 is primarily the result of interest rate and market fluctuations. The Company reviewed financial statements and cash flows for the security. The Company’s analysis determined that the unrealized loss is primarily the result of interest rate and market fluctuations and not associated with impaired financial status. The contractual terms of the investment does not permit the issuer to settle the securities at a price less than the cost basis of the 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 $1,279 as of March 31, 2020 and $1,220 at December 31, 2019. Restricted stock is reported separately from available for sale securities. As a member bank of the Federal Reserve system and the Federal Home Loan Bank of Atlanta (“FHLB”), 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, current borrowings, 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 $528,296 at March 31, 2020. Management reviews for impairment based upon the ultimate recoverability of the cost basis of the FHLB stock, and at March 31, 2020, 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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