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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities

A summary of investment securities available-for-sale is as follows:

		As of December 31, 2018
						Gross				Gross
		Amortized				unrealized				unrealized				Estimated
(Dollars in thousands)		cost				gains				losses				fair value
U. S. treasury securities		$	1,999			$	-			$	(28	)		$	1,971
U. S. federal agency obligations			10,370				32				(41	)			10,361
Municipal obligations, tax exempt			161,529				353				(2,770	)			159,112
Municipal obligations, taxable			53,178				180				(323	)			53,035
Agency mortgage-backed securities			158,765				264				(2,953	)			156,076
Certificates of deposit			7,790				-				-				7,790
Total		$	393,631			$	829			$	(6,115	)		$	388,345

		As of December 31, 2017
						Gross				Gross
		Amortized				unrealized				unrealized				Estimated
		cost				gains				losses				fair value
U. S. treasury securities		$	1,999			$	-			$	(9	)		$	1,990
U. S. federal agency obligations			16,572				5				(85	)			16,492
Municipal obligations, tax exempt			183,846				1,972				(1,080	)			184,738
Municipal obligations, taxable			57,783				409				(216	)			57,976
Agency mortgage-backed securities			119,096				92				(1,633	)			117,555
Certificates of deposit			9,224				-				-				9,224
Common stocks			-				8				-				8
Total		$	388,520			$	2,486			$	(3,023	)		$	387,983

Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value

Securities which were temporarily impaired are shown below, along with the length of time in a continuous unrealized loss position.

						As of December 31, 2018
						Less than 12 months								12 months or longer								Total
		No. of				Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
(Dollars in thousands)		securities				value				losses				value				losses				value				losses
U.S. federal treasury securities			1			$	-			$	-			$	1,971			$	(28	)		$	1,971			$	(28	)
U.S. federal agency obligations			6				145				(1	)			7,970				(40	)			8,115				(41	)
Municipal obligations, tax exempt			296				35,898				(367	)			85,921				(2,403	)			121,819				(2,770	)
Municipal obligations, taxable			86				8,293				(22	)			28,984				(301	)			37,277				(323	)
Agency mortgage-backed securities			101				30,030				(146	)			96,155				(2,807	)			126,185				(2,953	)
Total			490			$	74,366			$	(536	)		$	221,001			$	(5,579	)		$	295,367			$	(6,115	)

						As of December 31, 2017
						Less than 12 months								12 months or longer								Total
		No. of				Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
		securities				value				losses				value				losses				value				losses
U.S. federal treasury securities			1			$	1,990			$	(9	)		$	-			$	-			$	1,990			$	(9	)
U.S. federal agency obligations			14				7,989				(24	)			8,272				(61	)			16,261				(85	)
Municipal obligations, tax exempt			178				37,299				(273	)			31,930				(807	)			69,229				(1,080	)
Municipal obligations, taxable			73				18,792				(96	)			9,744				(120	)			28,536				(216	)
Agency mortgage-backed securities			79				68,630				(620	)			39,844				(1,013	)			108,474				(1,633	)
Total			345			$	134,700			$	(1,022	)		$	89,790			$	(2,001	)		$	224,490			$	(3,023	)

Schedule of Investments Classified by Contractual Maturity Date

The amortized cost and fair value of investment securities at December 31, 2018 are as follows:

		Amortized				Estimated
(Dollars in thousands)		cost				fair value
Due in less than one year		$	34,943			$	34,847
Due after one year but within five years			177,050				174,149
Due after five years but within ten years			103,823				102,522
Due after ten years			77,815				76,827
Total		$	393,631			$	388,345

Schedule of Realized Gain (loss)

Sales proceeds and gross realized gains and losses on sales of available-for-sale securities are as follows:

		Years ended December 31,
(Dollars in thousands)		2018				2017				2016
Sales proceeds		$	21,126			$	13,810			$	14,326
Realized gains		$	84			$	522			$	573
Realized losses			(64	)			(24	)			(15	)
Net realized gains		$	20			$	498			$	558

X

- Definition

Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities.

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Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563

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