Securities (Tables)
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12 Months Ended |
Dec. 31, 2018 |
Investments, Debt and Equity Securities [Abstract] |
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Securities Available for Sale |
Securities available-for-sale at December 31, 2018 and 2017 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2018 | | December 31, 2017 | | Amortized | | Unrealized | | Fair | | Amortized | | Unrealized | | Fair | | Cost | | Gains | | Losses | | Value | Cost | Gains | | Losses | | Value | U.S. Gov’t sponsored entities | $ | 134,010 |
| | $ | 254 |
| | $ | (1,570 | ) | | $ | 132,694 |
| | $ | 108,578 |
| | $ | 478 |
| | $ | (908 | ) | | $ | 108,148 |
| State & political subdivisions | 134,662 |
| | 1,942 |
| | (573 | ) | | 136,031 |
| | 134,428 |
| | 3,609 |
| | (314 | ) | | 137,723 |
| Residential & multi-family mortgage | 209,126 |
| | 500 |
| | (3,573 | ) | | 206,053 |
| | 111,214 |
| | 304 |
| | (1,882 | ) | | 109,636 |
| Corporate notes & bonds | 12,356 |
| | 22 |
| | (601 | ) | | 11,777 |
| | 17,610 |
| | 52 |
| | (462 | ) | | 17,200 |
| Pooled SBA | 30,163 |
| | 135 |
| | (924 | ) | | 29,374 |
| | 36,260 |
| | 355 |
| | (575 | ) | | 36,040 |
| Other | 1,020 |
| | 0 |
| | (86 | ) | | 934 |
| | 1,020 |
| | 0 |
| | (58 | ) | | 962 |
| Total | $ | 521,337 |
| | $ | 2,853 |
| | $ | (7,327 | ) | | $ | 516,863 |
| | $ | 409,110 |
| | $ | 4,798 |
| | $ | (4,199 | ) | | $ | 409,709 |
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Information pertaining to security sales is as follows: | | | | | | | | | | | | | Year ended December 31 | Proceeds | | Gross Gains | | Gross Losses | 2018 | $ | 0 |
| | $ | 0 |
| | $ | 0 |
| 2017 | 16,340 |
| | 1,614 |
| | 71 |
| 2016 | 4,420 |
| | 1,005 |
| | 0 |
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Trading Securities |
Trading securities at December 31, 2018 and 2017 are as follows: | | | | | | | | | | 2018 | | 2017 | Corporate equity securities | $ | 5,828 |
| | $ | 5,125 |
| Mutual Funds | 1,058 |
| | 1,499 |
| Certificates of deposit | 268 |
| | 220 |
| Corporate notes and bonds | 581 |
| | 254 |
| U.S. Government sponsored entities | 51 |
| | 52 |
| Total | $ | 7,786 |
| | $ | 7,150 |
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Securities with Unrealized Loss Position |
Securities with unrealized losses at December 31, 2018 and 2017, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2018 | Less than 12 Months | | 12 Months or More | | Total | Description of Securities | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | U.S. Gov’t sponsored entities | $ | 14,786 |
| | $ | (41 | ) | | $ | 70,676 |
| | $ | (1,529 | ) | | $ | 85,462 |
| | $ | (1,570 | ) | State & political subdivisions | 13,834 |
| | (62 | ) | | 21,080 |
| | (511 | ) | | 34,914 |
| | (573 | ) | Residential & multi-family mortgage | 69,015 |
| | (656 | ) | | 87,286 |
| | (2,917 | ) | | 156,301 |
| | (3,573 | ) | Corporate notes & bonds | 0 |
| | 0 |
| | 9,759 |
| | (601 | ) | | 9,759 |
| | (601 | ) | Pooled SBA | 760 |
| | (7 | ) | | 20,795 |
| | (917 | ) | | 21,555 |
| | (924 | ) | Other | 0 |
| | 0 |
| | 934 |
| | (86 | ) | | 934 |
| | (86 | ) | | $ | 98,395 |
| | $ | (766 | ) | | $ | 210,530 |
| | $ | (6,561 | ) | | $ | 308,925 |
| | $ | (7,327 | ) |
| | | | | | | | | | | | | | | | | | | December 31, 2017 | Less than 12 Months | | 12 Months or More | | Total | Description of Securities | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | U.S. Gov’t sponsored entities | 55,696 |
| | (540 | ) | | 34,754 |
| | (368 | ) | | 90,450 |
| | (908 | ) | State & political subdivisions | 15,890 |
| | (69 | ) | | 4,104 |
| | (245 | ) | | 19,994 |
| | (314 | ) | Residential and multi-family mortgage | 30,144 |
| | (153 | ) | | 63,699 |
| | (1,729 | ) | | 93,843 |
| | (1,882 | ) | Corporate notes & bonds | 5,005 |
| | (9 | ) | | 9,042 |
| | (453 | ) | | 14,047 |
| | (462 | ) | Pooled SBA | 0 |
| | 0 |
| | 22,270 |
| | (575 | ) | | 22,270 |
| | (575 | ) | Other | 0 |
| | 0 |
| | 962 |
| | (58 | ) | | 962 |
| | (58 | ) | | 106,735 |
| | (771 | ) | | 134,831 |
| | (3,428 | ) | | 241,566 |
| | (4,199 | ) |
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Roll-Forward of Other-Than-Temporary Impairment Amount Related to Credit Losses |
A roll-forward of the other-than-temporary impairment amount related to credit losses for the years ended December 31, 2018, 2017, and 2016 is as follows: | | | | | | | | | | | | | | 2018 | | 2017 | | 2016 | Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, beginning of period | $ | 0 |
| | $ | 2,071 |
| | $ | 4,054 |
| Credit losses previously recognized on securities sold during the period | 0 |
| | (2,071 | ) | | (1,983 | ) | Additional credit loss for which other-than-temporary impairment was not previously recognized | 0 |
| | 0 |
| | 0 |
| Additional credit loss for which other-than-temporary impairment was previously recognized | 0 |
| | 0 |
| | 0 |
| Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, end of period | $ | 0 |
| | $ | 0 |
| | $ | 2,071 |
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Schedule of Contractual Maturity of Securities Available for Sale, Excluding Equity Securities |
The following is a schedule of the contractual maturity of securities available for sale, excluding other securities, at December 31, 2018: | | | | | | | | | | December 31, 2018 | | Amortized Cost | | Fair Value | 1 year or less | $ | 58,509 |
| | $ | 58,003 |
| 1 year – 5 years | 146,605 |
| | 146,111 |
| 5 years – 10 years | 70,984 |
| | 71,451 |
| After 10 years | 4,930 |
| | 4,937 |
| | 281,028 |
| | 280,502 |
| Residential and multi-family mortgage | 209,126 |
| | 206,053 |
| Pooled SBA | 30,163 |
| | 29,374 |
| Other | 1,020 |
| | 934 |
| Total debt securities | $ | 521,337 |
| | $ | 516,863 |
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