Securities (Tables)

9 Months Ended

Sep. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Carrying values of investment securities

The carrying values of investment securities at September 30, 2018 and December 31, 2017 are summarized in the following table (dollars in thousands):

	September 30, 2018				December 31, 2017
	Amount		Percent		Amount		Percent
Securities available for sale
U.S. Treasury	$	82,353	28.18	%	$	54,318	19.05	%
Other securities (FHLB, FHLMC and FNMA)	34,733		11.88		43,959		15.42
State and political subdivisions	175,216		59.94		186,878		65.53
Total securities available for sale	$	292,302	100.00	%	$	285,155	100.00	%

Carrying amount of available-for-sale securities and approximate fair values

The carrying amount of available-for-sale securities and their approximate fair values were as follows as of September 30, 2018 and December 31, 2017 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value
September 30, 2018:
U.S. Treasury	$	83,949	$	—	$	(1,596	)	$	82,353
Other securities (FHLB, FHLMC and FNMA)	35,398		1		(666		)	34,733
State and political subdivisions	177,945		129		(2,858		)	175,216
Total	$	297,292	$	130	$	(5,120	)	$	292,302
December 31, 2017:
U.S. Treasury	$	54,696	$	—	$	(378	)	$	54,318
Other securities (FHLB, FHLMC and FNMA)	44,470		1		(512		)	43,959
State and political subdivisions	187,130		722		(974		)	186,878
Total	$	286,296	$	723	$	(1,864	)	$	285,155

Available-for-sale securities classified as per contractual maturities

The amortized cost and estimated fair value of available-for-sale securities classified according to their contractual maturities at September 30, 2018, were as follows (in thousands):

	Amortized Cost		Fair Value
Due in one year or less	$	41,457	$	41,340
Due after one year through five years	180,463		177,642
Due after five years through ten years	74,811		72,759
Due over ten years	561		561
Total	$	297,292	$	292,302

Available-for-sale securities, continuous unrealized loss position, fair value

The following table shows the fair value, gross unrealized losses and the percentage of fair value represented by gross unrealized losses of applicable investment securities owned by the Company, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2018 and December 31, 2017 (in thousands):

	Less than 12 months								12 months or more								Total
September 30, 2018 Description of Securities	#	Fair Value		Unrealized Loss			%		#	Fair Value		Unrealized Loss			%		#	Fair Value		Unrealized Loss			%
U.S. Treasury	24	$	58,023	$	(987	)	1.70	%	10	$	24,330	$	(609	)	2.50	%	34	$	82,353	$	(1,596	)	1.94	%
Other securities (FHLB, FHLMC and FNMA)	1	2,494		(9		)	0.36		13	32,239		(657		)	2.04		14	34,733		(666		)	1.92
State and political subdivisions	377	94,638		(1,490		)	1.57		142	33,670		(1,368		)	4.06		519	128,308		(2,858		)	2.23
Total temporarily impaired securities	402	$	155,155	$	(2,486	)	1.60	%	165	$	90,239	$	(2,634	)	2.92	%	567	$	245,394	$	(5,120	)	2.09	%

	Less than 12 months								12 months or more								Total
December 31, 2017 Description of Securities	#	Fair Value		Unrealized Loss			%		#	Fair Value		Unrealized Loss			%		#	Fair Value		Unrealized Loss			%
U.S. Treasury	22	$	54,318	$	(378	)	0.70	%	—	$	—	$	—		—	%	22	$	54,318	$	(378	)	0.70	%
Other securities (FHLB, FHLMC and FNMA)	9	21,411		(83		)	0.39		9	22,547		(429		)	1.90		18	43,958		(512		)	1.16
State and political subdivisions	241	58,803		(573		)	0.97		65	14,944		(401		)	2.68		306	73,747		(974		)	1.32
Total temporarily impaired securities	272	$	134,532	$	(1,034	)	0.77	%	74	$	37,491	$	(830	)	2.21	%	346	$	172,023	$	(1,864	)	1.08	%