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Securities (Tables)
6 Months Ended
Jun. 30, 2019
Investments Debt And Equity Securities [Abstract]  
Aggregate Amortized Costs and Fair Values of Available-for-Sale Securities

The aggregate amortized costs and fair values of available-for-sale securities as of the dates stated were as follows.

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

June 30, 2019

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

U.S. Government agencies and mortgage backed securities

 

$

51,941

 

 

$

205

 

 

$

(279

)

 

$

51,867

 

State and municipal obligations

 

 

16,810

 

 

 

281

 

 

 

(37

)

 

 

17,054

 

Corporate bonds

 

 

12,180

 

 

 

68

 

 

 

 

 

 

12,248

 

Total available-for-sale securities

 

$

80,931

 

 

$

554

 

 

$

(316

)

 

$

81,169

 

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

December 31, 2018

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

U.S. Government agencies and mortgage backed securities

 

$

51,126

 

 

$

35

 

 

$

(1,279

)

 

$

49,882

 

State and municipal obligations

 

 

20,484

 

 

 

60

 

 

 

(327

)

 

 

20,217

 

Corporate bonds

 

 

12,194

 

 

 

23

 

 

 

(84

)

 

 

12,133

 

Total available-for-sale securities

 

$

83,804

 

 

$

118

 

 

$

(1,690

)

 

$

82,232

 

Unrealized Loss Positions The following tables provide information on securities in an unrealized loss position as of the dates stated.

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

June 30, 2019

 

Number of Securities

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

U.S. Government agencies and mortgage backed securities

 

 

45

 

 

$

983

 

 

$

 

 

$

31,302

 

 

$

(279

)

 

$

32,285

 

 

$

(279

)

State and municipal obligations

 

 

8

 

 

 

 

 

 

 

 

 

3,403

 

 

 

(37

)

 

 

3,403

 

 

 

(37

)

Corporate bonds

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total temporarily impaired securities

 

 

53

 

 

$

983

 

 

$

 

 

$

34,705

 

 

$

(316

)

 

$

35,688

 

 

$

(316

)

 

 

 

 

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

December 31, 2018

 

Number of Securities

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

U.S. Government agencies and mortgage backed securities

 

 

54

 

 

$

2,911

 

 

$

(22

)

 

$

43,843

 

 

$

(1,257

)

 

$

46,754

 

 

$

(1,279

)

State and municipal obligations

 

 

39

 

 

 

2,723

 

 

 

(27

)

 

 

9,119

 

 

 

(300

)

 

 

11,842

 

 

 

(327

)

Corporate bonds

 

 

5

 

 

 

5,742

 

 

 

(84

)

 

 

 

 

 

 

 

 

5,742

 

 

 

(84

)

Total temporarily impaired securities

 

 

98

 

 

$

11,376

 

 

$

(133

)

 

$

52,962

 

 

$

(1,557

)

 

$

64,338

 

 

$

(1,690

)

Summary of Amortized Cost and Fair Value by Contractual Maturity of Securities Available for Sale Securities

The following table presents the amortized cost and fair value by contractual maturity of available-for-sale securities as of the dates stated. Expected maturities may differ from contractual maturities, as issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

 

 

 

June 30, 2019

 

 

December 31, 2018

 

 

 

Amortized Cost

 

 

Fair Value

 

 

Amortized Cost

 

 

Fair Value

 

Due in one year or less

 

$

1,543

 

 

$

1,545

 

 

$

1,080

 

 

$

1,079

 

Due after one year but less than five years

 

 

43,940

 

 

 

44,036

 

 

 

47,065

 

 

 

46,358

 

Due after five years but less than ten years

 

 

27,454

 

 

 

27,704

 

 

 

26,615

 

 

 

26,149

 

Due after ten years

 

 

7,994

 

 

 

7,884

 

 

 

9,044

 

 

 

8,646

 

Total available-for-sale securities

 

$

80,931

 

 

$

81,169

 

 

$

83,804

 

 

$

82,232