SECURITIES (Tables)

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Amortized cost and estimated fair value of securities available for sale

Amortized cost and estimated fair value of securities available for sale are as follows (in thousands):

	September 30, 2019
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Mortgage-backed securities, residential	$	201,152	$	2,757	$	385	$	203,524
Obligations of states and political subdivisions	45,122		2,148		—		47,270
Corporate bonds and notes	250		—		—		250
SBA loan pools	16,377		144		36		16,485
Total	$	262,901	$	5,049	$	421	$	267,529

	December 31, 2018
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	5,489	$	10	$	27	$	5,472
Mortgage-backed securities, residential	189,111		146		6,065		183,192
Obligations of states and political subdivisions	44,390		70		308		44,152
Corporate bonds and notes	249		—		2		247
SBA loan pools	9,257		—		62		9,195
Total	$	248,496	$	226	$	6,464	$	242,258

Amortized cost and estimated fair value of securities held to maturity

Amortized cost and estimated fair value of securities held to maturity are as follows (in thousands):

	September 30, 2019
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Obligations of states and political subdivisions	$	1,125	$	—	$	—	$	1,125
Time deposits with other financial institutions	2,295		23		—		2,318
Total	$	3,420	$	23	$	—	$	3,443

	December 31, 2018
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Obligations of states and political subdivisions	$	3,020	$	—	$	—	$	3,020
Time deposits with other financial institutions	1,855		—		17		1,838
Total	$	4,875	$	—	$	17	$	4,858

Amortized cost and estimated fair value of debt securities by contractual maturity

The amortized cost and estimated fair value of debt securities are shown below by expected maturity.  Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.  Securities not due at a single maturity date are shown separately (in thousands):

	September 30, 2019
	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	3,413	$	3,421	$	1,340	$	1,340
After one, but within five years	7,464		7,722		2,080		2,103
After five, but within ten years	33,446		35,285		—		—
After ten years	1,049		1,092		—		—
	45,372		47,520		3,420		3,443
Mortgage-backed securities, residential	201,152		203,524		—		—
SBA loan pools	16,377		16,485		—		—
Total	$	262,901	$	267,529	$	3,420	$	3,443

Gain (Loss) on Securities

The proceeds from sales of securities resulting in gains or losses for the nine months ended September 30, 2019 and 2018 are listed below (in thousands):

	2019			2018
Proceeds	$	15,200		$	—
Gross gains	79			—
Gross losses	(60		)	—
Tax expense	5			—

Investment securities available for sale in an unrealized loss position

The following tables summarize the investment securities available for sale with unrealized losses at September 30, 2019 and December 31, 2018 by aggregated major security type and length of time in a continuous unrealized loss position (in thousands):

	Less than 12 months				12 months or longer				Total
September 30, 2019	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Mortgage-backed securities, residential	$	—	$	—	$	67,646	$	385	$	67,646	$	385
SBA loan pools	3,353		1		1,525		35		4,878		36
Total temporarily impaired securities	$	3,353	$	1	$	69,171	$	420	$	72,524	$	421

	Less than 12 months				12 months or longer				Total
December 31, 2018	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	—	$	—	$	4,969	$	27	$	4,969	$	27
Mortgage-backed securities, residential	—		—		171,481		6,065		171,481		6,065
Obligations of states and political subdivisions	10,868		38		21,345		270		32,213		308
Corporate bonds and notes	247		2		—		—		247		2
SBA loan pools	5,985		17		3,210		45		9,195		62
Total temporarily impaired securities	$	17,100	$	57	$	201,005	$	6,407	$	218,105	$	6,464