XML 79 R25.htm IDEA: XBRL DOCUMENT v3.20.1
INVESTMENT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Approximate Fair Value of Investment Securities Classified as Available for Sale
The amortized cost and approximate fair value of investment securities classified as AFS are summarized below as of the dates presented (dollars in thousands).
 
 
 
Amortized Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
March 31, 2020
 
 
 
 
Obligations of U.S. government agencies and corporations
 
$
43,966

 
$
150

 
$
(107
)
 
$
44,009

Obligations of state and political subdivisions
 
32,717

 
652

 
(1,386
)
 
31,983

Corporate bonds
 
24,069

 
243

 
(1,218
)
 
23,094

Residential mortgage-backed securities
 
100,852

 
2,846

 
(16
)
 
103,682

Commercial mortgage-backed securities
 
72,437

 
1,344

 
(268
)
 
73,513

Total
 
$
274,041

 
$
5,235

 
$
(2,995
)
 
$
276,281

 
 
 
Amortized Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
December 31, 2019
 
 
 
 
Obligations of U.S. government agencies and corporations
 
$
33,651

 
$
100

 
$
(100
)
 
$
33,651

Obligations of state and political subdivisions
 
32,920

 
541

 
(12
)
 
33,449

Corporate bonds
 
19,245

 
192

 
(274
)
 
19,163

Residential mortgage-backed securities
 
100,948

 
1,083

 
(85
)
 
101,946

Commercial mortgage-backed securities
 
71,340

 
564

 
(308
)
 
71,596

Total
 
$
258,104

 
$
2,480

 
$
(779
)
 
$
259,805
Schedule of Proceeds from Sale of Investment Securities
Proceeds from sales of investment securities AFS and gross gains and losses are summarized below for the periods presented (dollars in thousands).
 
 
Three months ended March 31,
 
 
2020
 
2019
Proceeds from sale
 
$
16,572

 
$
393

Gross gains
 
$
182

 
$
2

Gross losses
 
$
10

 
$
—
Schedule of Amortized Cost and Approximate Fair Value of Investment Securities Classified as Held to Maturity
The amortized cost and approximate fair value of investment securities classified as HTM are summarized below as of the dates presented (dollars in thousands). 
 
 
Amortized Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
March 31, 2020
 
 
 
 
Obligations of state and political subdivisions
 
$
9,371

 
$
—

 
$
(262
)
 
$
9,109

Residential mortgage-backed securities
 
4,882

 
190

 
—

 
5,072

Total
 
$
14,253

 
$
190

 
$
(262
)
 
$
14,181

 
 
 
Amortized Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
December 31, 2019
 
 
 
 
Obligations of state and political subdivisions
 
$
9,487

 
$
14

 
$
—

 
$
9,501

Residential mortgage-backed securities
 
4,922

 
57

 
—

 
4,979

Total
 
$
14,409

 
$
71

 
$
—

 
$
14,480
Schedule of Unrealized Losses and Fair Value by Investment Category for Securities Available for Sale
The number of AFS securities, fair value, and unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are summarized below as of the dates presented (dollars in thousands).
 
 
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Count
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
March 31, 2020
 
 
 
 
 
 
 
Obligations of U.S. government agencies and corporations
 
18

 
$
22,871

 
$
(107
)
 
$
—

 
$
—

 
$
22,871

 
$
(107
)
Obligations of state and political subdivisions
 
20

 
—

 
—

 
16,873

 
(1,386
)
 
16,873

 
(1,386
)
Corporate bonds
 
27

 
5,318

 
(408
)
 
7,539

 
(810
)
 
12,857

 
(1,218
)
Residential mortgage-backed securities
 
15

 
3,128

 
(14
)
 
147

 
(2
)
 
3,275

 
(16
)
Commercial mortgage-backed securities
 
30

 
19,442

 
(245
)
 
1,868

 
(23
)
 
21,310

 
(268
)
Total
 
110

 
$
50,759

 
$
(774
)
 
$
26,427

 
$
(2,221
)
 
$
77,186

 
$
(2,995
)
 
 
 
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Count
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
December 31, 2019
 
 
 
 
 
 
 
Obligations of U.S. government agencies and corporations
 
21

 
$
19,980

 
$
(94
)
 
$
955

 
$
(6
)
 
$
20,935

 
$
(100
)
Obligations of state and political subdivisions
 
10

 
212

 
(1
)
 
371

 
(11
)
 
583

 
(12
)
Corporate bonds
 
21

 
495

 
(5
)
 
7,829

 
(269
)
 
8,324

 
(274
)
Residential mortgage-backed securities
 
32

 
12,341

 
(56
)
 
6,190

 
(29
)
 
18,531

 
(85
)
Commercial mortgage-backed securities
 
57

 
29,072

 
(274
)
 
2,516

 
(34
)
 
31,588

 
(308
)
Total
 
141

 
$
62,100

 
$
(430
)
 
$
17,861

 
$
(349
)
 
$
79,961

 
$
(779
)
Schedule of Unrealized Losses and Fair Value by Investment Category for Securities Held to Maturity
The number of HTM securities, fair value, and unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are summarized below as of the dates presented (dollars in thousands).
 
 
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Count
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
March 31, 2020
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
6

 
$
—

 
$
—

 
$
9,108

 
$
(262
)
 
$
9,108

 
$
(262
)
Residential mortgage-backed securities
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
 
6

 
$
—

 
$
—

 
$
9,108

 
$
(262
)
 
$
9,108

 
$
(262
)

 
 
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Count
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
December 31, 2019
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Residential mortgage-backed securities
 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
 
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—
Schedule of Weighted Average Tax Equivalent Yield, Amortized Cost and Approximate Fair Value of Investment Debt Securities by Contractual Maturity (Including Mortgage-backed Securities)
The amortized cost and approximate fair value of debt securities, by contractual maturity (including mortgage-backed securities), are shown below as of the dates presented (dollars in thousands). Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
 
Securities Available For Sale
 
Securities Held To Maturity
 
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
March 31, 2020
 
 
 
 
Due within one year
 
$
460

 
$
471

 
$
790

 
$
790

Due after one year through five years
 
12,834

 
12,925

 
3,575

 
3,554

Due after five years through ten years
 
78,098

 
77,382

 
5,006

 
4,764

Due after ten years
 
182,649

 
185,503

 
4,882

 
5,073

Total debt securities
 
$
274,041

 
$
276,281

 
$
14,253

 
$
14,181


 
 
Securities Available For Sale
 
Securities Held To Maturity
 
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
December 31, 2019
 
 
 
 
Due within one year
 
$
2,174

 
$
2,175

 
$
790

 
$
792

Due after one year through five years
 
13,525

 
13,675

 
3,575

 
3,582

Due after five years through ten years
 
66,551

 
66,568

 
5,122

 
5,126

Due after ten years
 
175,854

 
177,387

 
4,922

 
4,980

Total debt securities
 
$
258,104

 
$
259,805

 
$
14,409

 
$
14,480