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Securities | 12 Months Ended
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Dec. 31, 2018
Securities [Abstract] |
Securities | ﻿ Note 4 - Securities A summary of the amortized cost and fair value of securities, with gross unrealized gains and losses, follows:
﻿ |  |  |  |  |  |  |  |
﻿ |  | December 31, 2018
﻿ |  | Amortized |  | Gross Unrealized |  | Fair
﻿ |  | Cost |  | Gains |  | Losses |  | Value
Held-to-maturity |  |  |  |  |  |  |  |
﻿U.S. agency obligations |  | $3,700 |  | $ - |  | $(185) |  | $3,515
﻿ |  |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |  |
﻿U.S. Treasuries |  | $1,961 |  | $ - |  | $(116) |  | $1,845
﻿U.S. agency obligations |  | 24,701 |  | - |  | (1,434) |  | 23,267
﻿Mortgage-backed securities |  | 12,390 |  | - |  | (514) |  | 11,876
﻿Municipals |  | 12,412 |  | 3 |  | (406) |  | 12,009
﻿Corporates |  | 4,102 |  | - |  | (372) |  | 3,730
﻿ |  |  |  |  |  |  |  |
﻿ |  | $55,566 |  | $3 |  | $(2,842) |  | $52,727
﻿
﻿ |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |
﻿ |  | December 31, 2017
﻿ |  | Amortized |  | Gross Unrealized |  | Fair
﻿ |  | Cost |  | Gains |  | Losses |  | Value
Held-to-maturity |  |  |  |  |  |  |  |
﻿U.S. agency obligations |  | $5,713 |  | $8 |  | $(102) |  | $5,619
﻿ |  |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |  |
﻿U.S. Treasuries |  | $1,956 |  | $ - |  | $(98) |  | $1,858
﻿U.S. agency obligations |  | 24,881 |  | 5 |  | (1,036) |  | 23,850
﻿Mortgage-backed securities |  | 13,662 |  | 2 |  | (276) |  | 13,388
﻿Municipals |  | 12,556 |  | 16 |  | (298) |  | 12,274
﻿ Corporates |  | 4,117 |  | - |  | (175) |  | 3,942
﻿ |  |  |  |  |  |  |  |
﻿ |  | $57,172 |  | $23 |  | $(1,883) |  | $55,312
Temporarily Impaired Securities ﻿ The following tables show the gross unrealized losses and fair value of the Bank’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length Note 4 –Securities (continued) ﻿ of time that individual securities have been in a continuous unrealized loss position, at December 31, 2018 and 2017:
﻿ |  |  |  |  |  |  |  |
Dece mber 31, 2018 | Less than 12 months |  | More than 12 months |  | Total
﻿ | Fair | Unrealized |  | Fair | Unrealized |  | Fair | Unrealized
﻿ | Value | Losses |  | Value | Losses |  | Value | Losses
Held-to-maturity |  |  |  |  |  |  |  |
﻿ U.S. agency obligations | $ - | $ - |  | $3,515 | $185 |  | $3,515 | $185
﻿ |  |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |  |
﻿ U.S. Treasuries | - | - |  | 1,845 | 116 |  | 1,845 | 116
﻿ U.S. agency obligations | - | - |  | 23,267 | 1,434 |  | 23,267 | 1,434
﻿ Mortgage-backed securities | 966 | 20 |  | 10,910 | 494 |  | 11,876 | 514
﻿ Municipals | - | - |  | 10,994 | 406 |  | 10,994 | 406
﻿ Corporates | - | - |  | 3,730 | 372 |  | 3,730 | 372
﻿ |  |  |  |  |  |  |  |
﻿Total temporarily impaired securities | $966 | $20 |  | $50,746 | $2,822 |  | $51,712 | $2,842
﻿ ﻿
﻿ |  |  |  |  |  |  |  |
Decem ber 31, 2017 | Less than 12 months |  | More than 12 months |  | Total
﻿ | Fair | Unrealized |  | Fair | Unrealized |  | Fair | Unrealized
﻿ | Value | Losses |  | Value | Losses |  | Value | Losses
Held-to-maturity |  |  |  |  |  |  |  |
﻿ U.S. agency obligations | $2,367 | $70 |  | $1,243 | $32 |  | $3,610 | $102
﻿ |  |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |  |
﻿ U.S. Treasuries | - | - |  | 1,858 | 98 |  | 1,858 | 98
﻿ U.S. agency obligations | 11,465 | 215 |  | 12,379 | 821 |  | 23,844 | 1,036
﻿ Mortgage-backed securities | 2,802 | 26 |  | 9,712 | 250 |  | 12,514 | 276
﻿ Municipals | 4,823 | 41 |  | 5,644 | 257 |  | 10,467 | 298
﻿ Corporates | - | - |  | 3,942 | 175 |  | 3,942 | 175
﻿ |  |  |  |  |  |  |  |
﻿Total temporarily impaired securities | $19,090 | $282 |  | $33,535 | $1,601 |  | $52,625 | $1,883
﻿ ﻿ ﻿ ﻿ Note 4 –Securities (continued) ﻿ U.S. Treasuries. The unrealized losses on these two investments in U.S. Treasuries at December 31, 2018 were caused by an increase in interest rates. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider those investments to be other-than-temporarily impaired at December 31, 2018. Each of these two investments carries a Moody’s investment grade rating of AA. ﻿ U.S. agency obligations. The unrealized losses on the 21 investments in U.S. agency obligations at December 31, 2018 were caused by an increase in interest rates. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider those investments to be other-than-temporarily impaired at December 31, 2018. Each of these 21 investments carries an S&P investment grade rating of AA or better. ﻿ Mortgage-backed securities. The unrealized loss on the 12 investments in U.S. government agency mortgage-backed securities at December 31, 2018 was caused by an increase in interest rates. The contractual terms of those investments does not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. Because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of the amortized cost basis, which may be maturity, the Bank does not consider those investments to be other-than-temporarily impaired at December 31, 2018. Each of these 12 investments carries an S&P investment grade rating of AA. Municipals. The unrealized losses on the 19 investments in municipal obligations at December 31, 2018 were caused by an increase in interest rates. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Bank does not consider those investments to be other-than-temporarily impaired at December 31, 2018. Each of these 19 investments carries an S&P investment grade rating of A or above. ﻿ Corporates. The unrealized losses on the five investments in domestic corporate issued securities at December 31, 2018 were caused by an increase in interest rates. The contractual terms of those investments does not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. Because the Bank does not intend to sell the investments and it is not more likely than not that the Bank will be required to sell the investments before recovery of the amortized cost basis, which may be maturity, the Bank does not consider those investments to be other-than-temporarily impaired at December 31, 2018. Each of these five investments carries an S&P investment grade rating of BBB+ or above. ﻿ The amortized costs and fair values of securities at December 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.
﻿ |  |  |  |  |  |  |  |
Note 4 –Securities (continued) |  |  |  |  |  |  |  |
﻿ |  | Held-to-Maturity |  | Available-for-Sale
﻿ |  | Amortized |  | Fair |  | Amortized |  | Fair
﻿ |  | Cost |  | Values |  | Cost |  | Values
﻿ |  |  |  |  |  |  |  |
﻿Due in one year or less |  | $ - |  | $ - |  | $ - |  | $ -
﻿Due after one year through five years |  | - |  | - |  | 4,969 |  | 4,802
﻿Due after five years through ten years |  | - |  | - |  | 29,041 |  | 27,412
﻿Due after ten years |  | 3,700 |  | 3,515 |  | 21,556 |  | 20,513
﻿ |  |  |  |  |  |  |  |
﻿ |  | $3,700 |  | $3,515 |  | $55,566 |  | $52,727
﻿ The Bank sold no securities in 2018. The Bank received $9,940 in proceeds from sales of securities available-for-sale in 2017. Gross realized gains amounted to $113 and gross realized losses amounted to $0. At December 31, 2018 and 2017, securities with a carrying value of $19,401 and $12,123, respectively, were pledged as collateral for public deposits and for other purposes as required or permitted by law.

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