Investment in Securities (Tables)

6 Months Ended

Jun. 30, 2018

Investment in Securities [Abstract]

Investments in Securities

Investments in securities at June 30, 2018, December 31, 2017 and June 30, 2017 consisted of the following:

	June 30, 2018				December 31, 2017				June 30, 2017
			Estimated				Estimated				Estimated
	Cost		Market Value		Cost		Market Value		Cost		Market Value
	(In thousands)
Securities carried at FVTNI (trading securities for comparative periods):
Common stocks	$	17,661	$	32,980	$	26	$	34	$	20	$	26
Mutual Funds		12		12		11		11		1		1
Closed-end funds		951		963		-		-		-		-
Total securities carried at FVTNI		18,624		33,955		37		45		21		27
Available for sale securities:
Common stocks		-		-		17,441		36,637		18,773		35,088
Closed-end funds		-		-		99		108		99		110
Total available for sale securities		-		-		17,540		36,745		18,872		35,198
Total investments in securities	$	18,624	$	33,955	$	17,577	$	36,790	$	18,893	$	35,225

Reclassifications Out of Accumulated Other Comprehensive Income

The following table identifies all reclassifications out of accumulated other comprehensive income (“AOCI”) into income for the three and six months ended June 30, 2017 (in thousands).  (No disclosure is needed for the three and six months ended June 30, 2018 due to the adoption of ASU 2016-01.)

Amount				Affected Line Items	Reason for
Reclassified				in the Statements	Reclassification
from AOCI				Of Income	from AOCI
Three and six months ended
June 30, 2017
	$	-		Net gain from investments	Realized gain on sale of AFS securities
		34		Other operating expenses/net gains from investments	Realized gain on donations of AFS securities
		34		Income before income taxes
		(13	)	Income tax provision
	$	21		Net income

The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of available for sale investments as of December 31, 2017 and June 30, 2017.  (No disclosures are required as of June 30, 2018 due to the adoption of ASU 2016-01.)

Available-for-sale Securities

	December 31, 2017
				Gross			Gross			Estimated
				Unrealized			Unrealized			Market
	Cost			Gains			Losses			Value
	(In thousands)
Common stocks		$	17,441		$	19,196		$	-		$	36,637
Closed-end funds			99			9			-			108
Total available for sale securities		$	17,540		$	19,205		$	-		$	36,745
	June 30, 2017
				Gross			Gross			Estimated
				Unrealized			Unrealized			Market
	Cost			Gains			Losses			Value
	(In thousands)
Common stocks		$	18,773		$	16,315		$	-		$	35,088
Closed-end funds			99			11			-			110
Total available for sale securities		$	18,872		$	16,326		$	-		$	35,198