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INVESTMENT SECURITIES | 12 Months Ended
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Dec. 31, 2018
Investments [Abstract] |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 6. INVESTMENT SECURITIES The cost basis and fair values of investment securities are summarized as follows: Investment securities available for sale:
|  | AT DECEMBER 31, 2018 |
|  | COST BASIS |  |  | GROSS UNREALIZED GAINS |  |  | GROSS UNREALIZED LOSSES |  |  | FAIR VALUE |
|  | (IN THOUSANDS) |
U.S. Agency |  | $ | 7,685 |  |  | $ | 4 |  |  | $ | (160 | ) |  | $ | 7,529 |
Municipal |  |  | 13,301 |  |  |  | 114 |  |  |  | (234 | ) |  |  | 13,181 |
Corporate bonds |  |  | 37,359 |  |  |  | 131 |  |  |  | (996 | ) |  |  | 36,494 |
U.S. Agency mortgage-backed securities |  |  | 90,169 |  |  |  | 516 |  |  |  | (1,158 | ) |  |  | 89,527 |
Total |  | $ | 148,514 |  |  | $ | 765 |  |  | $ | (2,548 | ) |  | $ | 146,731 |
Investment securities held to maturity:
|  | AT DECEMBER 31, 2018 |
|  | COST BASIS |  |  | GROSS UNREALIZED GAINS |  |  | GROSS UNREALIZED LOSSES |  |  | FAIR VALUE |
|  | (IN THOUSANDS) |
U.S. Agency mortgage-backed securities |  | $ | 9,983 |  |  | $ | 78 |  |  | $ | (132 | ) |  | $ | 9,929 |
Municipal |  |  | 24,740 |  |  |  | 131 |  |  |  | (404 | ) |  |  | 24,467 |
Corporate bonds and other securities |  |  | 6,037 |  |  |  | 13 |  |  |  | (122 | ) |  |  | 5,928 |
Total |  | $ | 40,760 |  |  | $ | 222 |  |  | $ | (658 | ) |  | $ | 40,324 |
Investment securities available for sale:
|  | AT DECEMBER 31, 2017 |
|  | COST BASIS |  |  | GROSS UNREALIZED GAINS |  |  | GROSS UNREALIZED LOSSES |  |  | FAIR VALUE |
|  | (IN THOUSANDS) |
U.S. Agency |  | $ | 6,612 |  |  | $ | — |  |  | $ | (40 | ) |  | $ | 6,572 |
Municipal |  |  | 7,198 |  |  |  | 27 |  |  |  | (189 | ) |  |  | 7,036 |
Corporate bonds |  |  | 35,886 |  |  |  | 322 |  |  |  | (424 | ) |  |  | 35,784 |
U.S. Agency mortgage-backed securities |  |  | 79,854 |  |  |  | 611 |  |  |  | (719 | ) |  |  | 79,746 |
Total |  | $ | 129,550 |  |  | $ | 960 |  |  | $ | (1,372 | ) |  | $ | 129,138 |
Investment securities held to maturity:
|  | AT DECEMBER 31, 2017 |
|  | COST BASIS |  |  | GROSS UNREALIZED GAINS |  |  | GROSS UNREALIZED LOSSES |  |  | FAIR VALUE |
|  | (IN THOUSANDS) |
U.S. Agency mortgage-backed securities |  | $ | 9,740 |  |  | $ | 149 |  |  | $ | (45 | ) |  | $ | 9,844 |
Municipal |  |  | 22,970 |  |  |  | 203 |  |  |  | (238 | ) |  |  | 22,935 |
Corporate bonds and other securities |  |  | 6,042 |  |  |  | 38 |  |  |  | (48 | ) |  |  | 6,032 |
Total |  | $ | 38,752 |  |  | $ | 390 |  |  | $ | (331 | ) |  | $ | 38,811 |
Maintaining investment quality is a primary objective of the Company’s investment policy which, subject to certain limited exceptions, prohibits the purchase of any investment security below a Moody’s Investors Service or Standard & Poor’s rating of A. At December 31, 2018, 57.5% of the portfolio was rated AAA as compared to 57.8% at December 31, 2017. Approximately 10.0% and 9.7% of the portfolio was rated below A or unrated on December 31, 2018 and 2017, respectively. The Company and its subsidiaries, collectively, did not hold securities of any single issuer, excluding U.S. Treasury and U.S. Agencies, that exceeded 10% of shareholders’ equity at December 31, 2018. The book value of securities, both available for sale and held to maturity, pledged to secure public and trust deposits was $115,536,000 at December 31, 2018 and $117,181,000 at December 31, 2017. The Company realized $15,000 of gross investment security gains and $454,000 of gross investment security losses in 2018, $115,000 of gross investment security gains in 2017, and $183,000 of gross investment gains and $6,000 of gross investment security losses in 2016. On a net basis, the realized loss for 2018 was $347,000 after factoring in a tax benefit of $92,000, the realized gain for 2017 was $76,000 after factoring in tax expense of $39,000, and the realized gain for 2016 was $117,000 after factoring in tax expense of $60,000. Proceeds from sales of investment securities available for sale were $9.5 million for 2018, $8.1 million for 2017, and $9.0 million during 2016. The following table sets forth the contractual maturity distribution of the investment securities, cost basis and fair market values, and the weighted average yield for each type and range of maturity as of December 31, 2018. Yields are not presented on a tax-equivalent basis, but are based upon the cost basis and are weighted for the scheduled maturity. The Company’s consolidated investment securities portfolio had an effective duration of approximately 3.67 years. The weighted average expected maturity for available for sale securities at December 31, 2018 for U.S. Agency, U.S. Agency Mortgage-Backed, Corporate Bond, and Municipal securities was 8.91, 5.65, 4.30 , and 5.73 years, respectively. The weighted average expected maturity for held to maturity securities at December 31, 2018 for U.S. Agency Mortgage-Backed, Corporate Bond/other securities, and Municipal securities 6.09, 3.73, and 6.65 years, respectively. Investment securities available for sale:
AT DECEMBER 31, 2018 |
|  | U. S. AGENCY |  |  | U.S. AGENCY MORTGAGE-BACKED SECURITIES |  |  | CORPORATE BONDS |  |  | MUNICIPAL |  | TOTAL INVESTMENT SECURITIES AVAILABLE FOR SALE |
(IN THOUSANDS, EXCEPT YIELDS) |
COST BASIS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within 1 year |  | $ | — |  |  |  | — | % |  | $ | 26 |  |  |  | 3.29 | % |  | $ | 1,000 |  |  |  | 2.69 | % |  | $ | — |  |  |  | — | % |  | $ | 1,026 |  |  |  | 2.71 | %
After 1 year but within 5 years |  |  | 2,400 |  |  |  | 2.91 |  |  |  | 1,334 |  |  |  | 1.86 |  |  |  | 15,656 |  |  |  | 3.80 |  |  |  | 1,987 |  |  |  | 2.86 |  |  |  | 21,377 |  |  |  | 3.49 |
After 5 years but within 10 years |  |  | 2,443 |  |  |  | 2.94 |  |  |  | 10,977 |  |  |  | 3.00 |  |  |  | 20,703 |  |  |  | 4.22 |  |  |  | 11,314 |  |  |  | 3.27 |  |  |  | 45,437 |  |  |  | 3.61 |
After 10 years but within 15 years |  |  | — |  |  |  | — |  |  |  | 27,295 |  |  |  | 2.82 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 27,295 |  |  |  | 2.82 |
Over 15 years |  |  | 2,842 |  |  |  | 2.69 |  |  |  | 50,537 |  |  |  | 2.97 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 53,379 |  |  |  | 2.96 |
Total |  | $ | 7,685 |  |  |  | 2.84 |  |  | $ | 90,169 |  |  |  | 2.91 |  |  | $ | 37,359 |  |  |  | 4.00 |  |  | $ | 13,301 |  |  |  | 3.21 |  |  | $ | 148,514 |  |  |  | 3.21 |
FAIR VALUE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within 1 year |  | $ | — |  |  |  |  |  |  | $ | 26 |  |  |  |  |  |  | $ | 995 |  |  |  |  |  |  | $ | — |  |  |  |  |  |  | $ | 1,021 |  |  |  |  |
After 1 year but within 5 years |  |  | 2,386 |  |  |  |  |  |  |  | 1,320 |  |  |  |  |  |  |  | 15,380 |  |  |  |  |  |  |  | 1,981 |  |  |  |  |  |  |  | 21,067 |  |  |  |  |
After 5 years but within 10 years |  |  | 2,401 |  |  |  |  |  |  |  | 10,986 |  |  |  |  |  |  |  | 20,119 |  |  |  |  |  |  |  | 11,200 |  |  |  |  |  |  |  | 44,706 |  |  |  |  |
After 10 years but within 15 years |  |  | — |  |  |  |  |  |  |  | 27,012 |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  | 27,012 |  |  |  |  |
Over 15 years |  |  | 2,742 |  |  |  |  |  |  |  | 50,183 |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  | 52,925 |  |  |  |  |
Total |  | $ | 7,529 |  |  |  |  |  |  | $ | 89,527 |  |  |  |  |  |  | $ | 36,494 |  |  |  |  |  |  | $ | 13,181 |  |  |  |  |  |  | $ | 146,731 |  |  |  |  |
Investment securities held to maturity:
|  | AT DECEMBER 31, 2018 |
|  | U.S. AGENCY MORTGAGE-BACKED SECURITIES |  |  | CORPORATE BONDS AND OTHER |  |  | MUNICIPAL |  | TOTAL INVESTMENT SECURITIES HELD TO MATURITY |
|  | (IN THOUSANDS, EXCEPT YIELDS) |
COST BASIS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within 1 year |  | $ | — |  |  |  | — | % |  | $ | 1,000 |  |  |  | 1.65 | % |  | $ | — |  |  |  | — | % |  | $ | 1,000 |  |  |  | 1.65 | %
After 1 year but within 5 years |  |  | 902 |  |  |  | 2.09 |  |  |  | 2,000 |  |  |  | 3.40 |  |  |  | 1,176 |  |  |  | 2.96 |  |  |  | 4,078 |  |  |  | 2.98 |
After 5 years but within 10 years |  |  | 1,127 |  |  |  | 2.82 |  |  |  | 3,037 |  |  |  | 4.40 |  |  |  | 15,477 |  |  |  | 3.38 |  |  |  | 19,641 |  |  |  | 3.51 |
After 10 years but within 15 years |  |  | 2,662 |  |  |  | 3.68 |  |  |  | — |  |  |  | — |  |  |  | 7,772 |  |  |  | 3.90 |  |  |  | 10,434 |  |  |  | 3.84 |
Over 15 years |  |  | 5,292 |  |  |  | 3.17 |  |  |  | — |  |  |  | — |  |  |  | 315 |  |  |  | 3.50 |  |  |  | 5,607 |  |  |  | 3.19 |
Total |  | $ | 9,983 |  |  |  | 3.17 |  |  | $ | 6,037 |  |  |  | 3.61 |  |  | $ | 24,740 |  |  |  | 3.52 |  |  | $ | 40,760 |  |  |  | 3.45 |
FAIR VALUE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within 1 year |  | $ | — |  |  |  |  |  |  | $ | 944 |  |  |  |  |  |  | $ | — |  |  |  |  |  |  | $ | 944 |  |  |  |  |
After 1 year but within 5 years |  |  | 882 |  |  |  |  |  |  |  | 1,982 |  |  |  |  |  |  |  | 1,171 |  |  |  |  |  |  |  | 4,035 |  |  |  |  |
After 5 years but within 10 years |  |  | 1,123 |  |  |  |  |  |  |  | 3,002 |  |  |  |  |  |  |  | 15,296 |  |  |  |  |  |  |  | 19,421 |  |  |  |  |
After 10 years but within 15 years |  |  | 2,702 |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  | 7,706 |  |  |  |  |  |  |  | 10,408 |  |  |  |  |
Over 15 years |  |  | 5,222 |  |  |  |  |  |  |  | — |  |  |  |  |  |  |  | 294 |  |  |  |  |  |  |  | 5,516 |  |  |  |  |
Total |  | $ | 9,929 |  |  |  |  |  |  | $ | 5,928 |  |  |  |  |  |  | $ | 24,467 |  |  |  |  |  |  | $ | 40,324 |  |  |  |  |
The following table presents information concerning investments with unrealized losses as of December 31, 2018 (in thousands):
Total investment securities: |  | LESS THAN 12 MONTHS |  |  | 12 MONTHS OR LONGER |  |  | TOTAL |
| FAIR VALUE |  |  | UNREALIZED LOSSES |  |  | FAIR VALUE |  |  | UNREALIZED LOSSES |  |  | FAIR VALUE |  |  | UNREALIZED LOSSES |
U.S. Agency |  | $ | 244 |  |  | $ | (6 | ) |  | $ | 5,631 |  |  | $ | (154 | ) |  | $ | 5,875 |  |  | $ | (160 | )
U.S. Agency mortgage-backed securities |  |  | 17,718 |  |  |  | (177 | ) |  |  | 39,983 |  |  |  | (1,113 | ) |  |  | 57,701 |  |  |  | (1,290 | )
Municipal |  |  | 6,601 |  |  |  | (71 | ) |  |  | 15,880 |  |  |  | (567 | ) |  |  | 22,481 |  |  |  | (638 | )
Corporate bonds and other securities |  |  | 15,221 |  |  |  | (440 | ) |  |  | 17,038 |  |  |  | (678 | ) |  |  | 32,259 |  |  |  | (1,118 | )
Total |  | $ | 39,784 |  |  | $ | (694 | ) |  | $ | 78,532 |  |  | $ | (2,512 | ) |  | $ | 118,316 |  |  | $ | (3,206 | )
The following table presents information concerning investments with unrealized losses as of December 31, 2017 (in thousands):
Total investment securities: |  | LESS THAN 12 MONTHS |  |  | 12 MONTHS OR LONGER |  |  | TOTAL |
| FAIR VALUE |  |  | UNREALIZED LOSSES |  |  | FAIR VALUE |  |  | UNREALIZED LOSSES |  |  | FAIR VALUE |  |  | UNREALIZED LOSSES |
U.S. Agency |  | $ | 5,923 |  |  | $ | (39 | ) |  | $ | 399 |  |  | $ | (1 | ) |  | $ | 6,322 |  |  | $ | (40 | )
U.S. Agency mortgage-backed securities |  |  | 36,783 |  |  |  | (253 | ) |  |  | 22,625 |  |  |  | (511 | ) |  |  | 59,408 |  |  |  | (764 | )
Municipal |  |  | 8,657 |  |  |  | (109 | ) |  |  | 7,727 |  |  |  | (318 | ) |  |  | 16,384 |  |  |  | (427 | )
Corporate bonds and other securities |  |  | 7,123 |  |  |  | (71 | ) |  |  | 13,655 |  |  |  | (401 | ) |  |  | 20,778 |  |  |  | (472 | )
Total |  | $ | 58,486 |  |  | $ | (472 | ) |  | $ | 44,406 |  |  | $ | (1,231 | ) |  | $ | 102,892 |  |  | $ | (1,703 | )
The unrealized losses are primarily a result of increases in market yields from the time of purchase. In general, as market yields rise, the value of securities will decrease; as market yields fall, the fair value of securities will increase. There are 176 positions that are considered temporarily impaired at December 31, 2018. Management generally views changes in fair value caused by changes in interest rates as temporary; therefore, these securities have not been classified as other-than-temporarily impaired. Management has also concluded that based on current information we expect to continue to receive scheduled interest payments as well as the entire principal balance. Furthermore, management does not intend to sell these securities and does not believe it will be required to sell these securities before they recover in value or mature.

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- 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
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