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Note 5 - Investment Securities
 6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
Note
5.
Investment Securities
 
The following table presents the amortized cost and fair value of investment securities available-for-sale at the dates indicated:
 
    (Dollars in thousands)
    June 30, 2019
        Gross   Gross    
   
Amortized
  
Unrealized
  
Unrealized
  
Fair
   
Cost
  
Gains
  
Losses
  
Value
                 
U.S. Government Agencies   $
83,545
 
   $
587
 
   $
(162
)
   $
83,970
 
Obligations of States and Political Subdivisions    
28,775
 
    
760
 
    
(6
)
    
29,529
 
Mortgage-Backed Securities - Government-Sponsored Enterprises    
117,309
 
    
2,611
 
    
(34
)
    
119,886
 
Equity Securities - Mutual Funds    
1,000
 
    
5
 
    
(10
)
    
995
 
Equity Securities - Other    
1,534
 
    
129
 
    
(39
)
    
1,624
 
Total   $
232,163
 
   $
4,092
 
   $
(251
)
   $
236,004
 
 
    December 31, 2018
        Gross   Gross    
   
Amortized
  
Unrealized
  
Unrealized
  
Fair
   
Cost
  
Gains
  
Losses
  
Value
                 
U.S. Government Agencies   $
82,506
 
   $
160
 
   $
(2,087
)
   $
80,579
 
Obligations of States and Political Subdivisions    
44,737
 
    
230
 
    
(366
)
    
44,601
 
Mortgage-Backed Securities - Government-Sponsored Enterprises    
97,535
 
    
582
 
    
(346
)
    
97,771
 
Equity Securities - Mutual Funds    
1,000
 
    
-
 
    
(32
)
    
968
 
Equity Securities - Other    
1,502
 
    
92
 
    
(104
)
    
1,490
 
Total   $
227,280
 
   $
1,064
 
   $
(2,935
)
   $
225,409
 
 
The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position at the dates indicated:
 
    (Dollars in thousands)
    June 30, 2019
    Less than 12 months   12 Months or Greater   Total
    Number       Gross   Number       Gross   Number       Gross
    of   Fair   Unrealized   of   Fair   Unrealized   of   Fair   Unrealized
    Securities   Value   Losses   Securities   Value   Losses   Securities   Value   Losses
U.S. Government Agencies    
2
     $
5,965
     $
(35
 )    
14
     $
38,372
     $
(127
 )    
16
     $
44,337
     $
(162
 )
Obligations of States and Political Subdivisions    
-
      
-
      
-
      
3
      
1,861
      
(6
 )    
3
      
1,861
      
(6
 )
Mortgage-Backed Securities - Government Sponsored Enterprises    
-
      
-
      
-
      
6
      
11,131
      
(34
 )    
6
      
11,131
      
(34
 )
Equity Securities - Mutual Fund    
-
      
-
      
-
      
1
      
489
      
(10
 )    
1
      
489
      
(10
 )
Equity Securities - Other    
7
      
590
      
(34
 )    
1
      
56
      
(5
 )    
8
      
646
      
(39
 )
Total    
9
     $
6,555
     $
(69
 )    
25
     $
51,909
     $
(182
 )    
34
     $
58,464
     $
(251
 )
 
    December 31, 2018
    Less than 12 months   12 Months or Greater   Total
    Number       Gross   Number       Gross   Number       Gross
    of   Fair   Unrealized   of   Fair   Unrealized   of   Fair   Unrealized
    Securities   Value   Losses   Securities   Value   Losses   Securities   Value   Losses
U.S. Government Agencies    
-
     $
-
     $
-
      
23
     $
65,450
     $
(2,087
 )    
23
     $
65,450
     $
(2,087
 )
Obligations of States and Political Subdivisions    
24
      
13,212
      
(133
 )    
25
      
11,918
      
(233
 )    
49
      
25,130
      
(366
 )
Mortgage-Backed Securities - Government Sponsored Enterprises    
-
      
-
      
-
      
9
      
13,874
      
(346
 )    
9
      
13,874
      
(346
 )
Equity Securities - Mutual Fund    
2
      
968
      
(32
 )    
-
      
-
      
-
      
2
      
968
      
(32
 )
Equity Securities - Other    
7
      
592
      
(68
 )    
3
      
225
      
(36
 )    
10
      
817
      
(104
 )
Total    
33
     $
14,772
     $
(233
 )    
60
     $
91,467
     $
(2,702
 )    
93
     $
106,239
     $
(2,935
 )
 
For debt securities, the Company does
not
believe that any individual unrealized loss as of
June 30, 2019
or
December 31, 2018,
represents an other-than-temporary impairment. The Company performs a review of the entire securities portfolio on a quarterly basis to identify securities that
may
indicate an other-than-temporary impairment. The Company’s management considers the length of time and the extent to which the fair value has been less than cost, and the financial condition of the issuer. The securities that are temporarily impaired at
June 30, 2019
and
December 31, 2018
relate principally to changes in interest rates subsequent to the acquisition of the specific securities. The Company does
not
intend to sell, or it is
not
more likely than
not
that it will be required to sell any of the securities in an unrealized loss position before recovery of its amortized cost or maturity of the security.
 
The following table presents the scheduled maturities of investment securities as of the date indicated:
 
    (Dollars in thousands)
    June 30, 2019
    Available-for-Sale
    Amortized   Fair
    Cost   Value
Due in One Year or Less   $
7,205
     $
7,217
  
Due after One Year through Five Years    
67,921
      
68,038
  
Due after Five Years through Ten Years    
40,535
      
41,481
  
Due after Ten Years    
116,502
      
119,268
  
Total   $
232,163
     $
236,004
  
 
Equity Securities – Mutual Funds and Equity Securities – Other do
not
have a scheduled maturity date but have been included in the Due After Ten Years category.