XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.19.2

Securities | 6 Months Ended
--- | ---
Jun. 30, 2019
Securities |
Securities | Note 4 – Securities The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:
|  | (Dollars in thousands)
|  |  |  |  | Gross |  | Gross |  | Estimated
|  | Cost |  | Unrealized |  | Unrealized |  | Fair
June 30, 2019 |  | Basis |  | Gains |  | Losses |  | Value
Money market fund |  | $ | 5,598 |  | $ | — |  | $ | — |  | $ | 5,598
U.S. government sponsored entities |  |  | 12,986 |  |  | 96 |  |  | — |  |  | 13,082
U.S. treasury securities |  |  | 599 |  |  | — |  |  | — |  |  | 599
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 144,079 |  |  | 1,368 |  |  | (273) |  |  | 145,174
Municipal securities |  |  | 88,451 |  |  | 3,819 |  |  | (28) |  |  | 92,242
Collateralized debt obligations |  |  | 3,455 |  |  | — |  |  | (1,408) |  |  | 2,047
Total securities available-for-sale |  | $ | 255,168 |  | $ | 5,283 |  | $ | (1,709) |  | $ | 258,742
|  | (Dollars in thousands)
|  |  |  |  | Gross |  | Gross |  | Estimated
|  | Cost |  | Unrealized |  | Unrealized |  | Fair
December 31, 2018 |  | Basis |  | Gains |  | Losses |  | Value
Money market fund |  | $ | 2,480 |  | $ | — |  | $ | — |  | $ | 2,480
U.S. government sponsored entities |  |  | 7,997 |  |  | 28 |  |  | (131) |  |  | 7,894
U.S. treasury securities |  |  | — |  |  | — |  |  | — |  |  | —
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 137,834 |  |  | 135 |  |  | (2,688) |  |  | 135,281
Municipal securities |  |  | 93,516 |  |  | 1,072 |  |  | (524) |  |  | 94,064
Collateralized debt obligations |  |  | 3,481 |  |  | — |  |  | (1,432) |  |  | 2,049
Total securities available-for-sale |  | $ | 245,308 |  | $ | 1,235 |  | $ | (4,775) |  | $ | 241,768
The estimated fair value of available-for-sale debt securities at June 30, 2019, by contractual maturity, were as follows. Securities not due at a single maturity date, primarily collateralized mortgage obligations and residential mortgage-backed securities, are shown separately.
|  | (Dollars in thousands)
|  | Available-for-sale
|  | Estimated |  |
|  | Fair |  | Tax- Equivalent
June 30, 2019 |  | Value |  | Yield (%)
Due in one year or less |  | $ | 9,263 |  | 2.71
Due from one to five years |  |  | 3,311 |  | 4.91
Due from five to ten years |  |  | 17,524 |  | 3.79
Due over ten years |  |  | 83,470 |  | 4.06
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 145,174 |  | 2.69
Total |  | $ | 258,742 |  | 3.24
Sales of available-for-sale securities were as follows for the six months ended:
|  | (Dollars in thousands)
|  | June 30, |  | June 30,
|  | 2019 |  | 2018
Proceeds |  | $ | 30,281 |  | $ | 22,545
Gross gains |  |  | 733 |  |  | 1,004
Gross losses |  |  | (81) |  |  | —
Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows:
|  | (Dollars in thousands)
|  | Unrealized
|  | gain/(loss)
Ending balance, December 31, 2018 |  | $ | (2,796)
Current period change |  |  | 5,626
Ending balance, June 30, 2019 |  | $ | 2,830
Securities with carrying values of approximately $76.2 million and $16.3 million were pledged as of June 30, 2019 and December 31, 2018, respectively, as collateral for repurchase agreements, public funds, and for other purposes as permitted or required by law. The increase in pledged securities for June 30, 2019, was the result of new pledging requirements for Indiana public funds deposits. Securities with gross unrealized losses at June 30, 2019 and December 31, 2018 not recognized in income are as follows:
|  |  |  |  |  |  |  | (Dollars in thousands) |  |  |  |  |  |
|  | Less than 12 months |  | 12 months or longer |  | Total
|  | Estimated |  |  |  |  | Estimated |  |  |  |  | Estimated |  |  |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
June 30, 2019 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
U.S. government sponsored entities |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | — |  |  | — |  |  | 34,364 |  |  | (273) |  |  | 34,364 |  |  | (273)
Municipal securities |  |  | — |  |  | — |  |  | 607 |  |  | (28) |  |  | 607 |  |  | (28)
Collateralized debt obligations |  |  | — |  |  | — |  |  | 2,047 |  |  | (1,408) |  |  | 2,047 |  |  | (1,408)
Total temporarily impaired |  | $ | — |  | $ | — |  | $ | 37,018 |  | $ | (1,709) |  | $ | 37,018 |  | $ | (1,709)
Number of securities |  |  |  |  |  | 0 |  |  |  |  |  | 31 |  |  |  |  |  | 31
|  |  |  |  |  |  |  | (Dollars in thousands) |  |  |  |  |  |
|  | Less than 12 months |  | 12 months or longer |  | Total
|  | Estimated |  |  |  |  | Estimated |  |  |  |  | Estimated |  |  |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
December 31, 2018 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
U.S. government sponsored entities |  | $ | — |  | $ | — |  | $ | 3,866 |  | $ | (131) |  | $ | 3,866 |  | $ | (131)
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 28,388 |  |  | (304) |  |  | 89,234 |  |  | (2,384) |  |  | 117,622 |  |  | (2,688)
Municipal securities |  |  | 22,678 |  |  | (367) |  |  | 3,495 |  |  | (157) |  |  | 26,173 |  |  | (524)
Collateralized debt obligations |  |  | — |  |  | — |  |  | 2,049 |  |  | (1,432) |  |  | 2,049 |  |  | (1,432)
Total temporarily impaired |  | $ | 51,066 |  | $ | (671) |  | $ | 98,644 |  | $ | (4,104) |  | $ | 149,710 |  | $ | (4,775)
Number of securities |  |  |  |  |  | 52 |  |  |  |  |  | 75 |  |  |  |  |  | 127
Unrealized losses on securities have not been recognized into income because the securities are of high credit quality or have undisrupted cash flows. Management has the intent and ability to hold those securities for the foreseeable future, and the decline in fair value is largely due to changes in interest rates and volatility in securities markets. The fair values are expected to recover as the securities approach maturity.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
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