Securities (Tables)

3 Months Ended

Mar. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and fair value of securities

The required fair value disclosures are as follows:

In thousands	Fair Value at January 1, 2019		Unrealized Gains		Unrealized Losses		Fair Value at March 31, 2019
MARCH 31, 2019
CRA Mutual Fund	$	1,012	$	16	$	—	$	1,028
Stock in other banks	827		37		20		844
	$	1,839	$	53	$	20	$	1,872

In thousands	Fair Value at January 1, 2018		Unrealized Gains		Unrealized Losses		Fair Value at March 31, 2018
MARCH 31, 2018
CRA Mutual Fund	$	1,044	$	—	$	25	$	1,019
Stock in other banks	749		7		15		741
	$	1,793	$	7	$	40	$	1,760

Amortized cost and fair value of securities at March 31, 2019, and December 31, 2018, were as follows:

In thousands	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
SECURITIES AVAILABLE FOR SALE
MARCH 31, 2019
U.S. Government and agencies	$	119,831	$	358	$	1,402	$	118,787
Mortgage-backed securities, residential	32,347		390		105		32,632
State and municipal	9,470		72		12		9,530
	$	161,648	$	820	$	1,519	$	160,949
DECEMBER 31, 2018
U.S. Government and agencies	$	120,420	$	142	$	2,149	$	118,413
Mortgage-backed securities, residential	33,960		194		343		33,811
State and municipal	9,482		60		36		9,506
	$	163,862	$	396	$	2,528	$	161,730
SECURITIES HELD TO MATURITY
MARCH 31, 2019
U.S. Government and agencies	$	7,000	$	—	$	41	$	6,959
Mortgage-backed securities, residential	19,073		10		171		18,912
	$	26,073	$	10	$	212	$	25,871
DECEMBER 31, 2018
U.S. Government and agencies	$	7,000	$	—	$	69	$	6,931
Mortgage-backed securities, residential	20,266		4		290		19,980
	$	27,266	$	4	$	359	$	26,911

Schedule of unrealized losses and fair value

The following table shows the Corporation’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2019, and December 31, 2018:

	Less than 12 Months				12 Months or More				Total
In thousands	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
SECURITIES AVAILABLE FOR SALE
MARCH 31, 2019
U.S. Government and agencies	$	—	$	—	$	86,876	$	1,402	$	86,876	$	1,402
Mortgage-backed securities, residential	9		1		13,364		104		13,373		105
State and municipal	—		—		2,062		12		2,062		12
	$	9	$	1	$	102,302	$	1,518	$	102,311	$	1,519
DECEMBER 31, 2018
U.S. Government and agencies	$	1,997	$	5	$	87,216	$	2,144	$	89,213	$	2,149
Mortgage-backed securities, residential	9,410		134		8,586		209		17,996		343
State and municipal	—		—		2,696		36		2,696		36
	$	11,407	$	139	$	98,498	$	2,389	$	109,905	$	2,528
SECURITIES HELD TO MATURITY
MARCH 31, 2019
U.S. Government and agencies	$	—	$	—	$	6,959	$	41	$	6,959	$	41
Mortgage-backed securities, residential	1,324		6		13,915		165		15,239		171
	$	1,324	$	6	$	20,874	$	206	$	22,198	$	212
DECEMBER 31, 2018
U.S. Government and agencies	$	2,975	$	25	$	3,956	$	44	$	6,931	$	69
Mortgage-backed securities, residential	5,408		59		12,636		231		18,044		290
	$	8,383	$	84	$	16,592	$	275	$	24,975	$	359

Schedule of amortized cost and fair value by contractual maturity

Amortized cost and fair value at March 31, 2019, by contractual maturity, where applicable, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay with or without penalties.

	Available for Sale				Held to Maturity
In thousands	Amortized Cost		Fair Value		Amortized Cost		Fair Value
1 year or less	$	8,772	$	8,747	$	3,000	$	2,983
Over 1 year through 5 years	120,330		119,369		4,000		3,976
Over 5 years through 10 years	199		201		—		—
Over 10 years	—		—		—		—
Mortgage-backed securities, residential	32,347		32,632		19,073		18,912
	$	161,648	$	160,949	$	26,073	$	25,871