SECURITIES (Tables)

12 Months Ended

Dec. 31, 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 at December 31, 2019 and 2018 are as follows (in thousands):

	2019				2018
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	—	$	—	$	5,489	$	5,472
Mortgage-backed securities, residential	225,029		225,234		189,111		183,192
Obligations of states and political subdivisions	41,265		42,845		44,390		44,152
Corporate bonds and notes	250		250		249		247
SBA loan pools	15,712		15,761		9,257		9,195
Total	$	282,256	$	284,090	$	248,496	$	242,258

Gross unrealized gains and losses on securities available for sale at December 31, 2019 and 2018, were as follows (in thousands):

	2019				2018
	Unrealized Gains		Unrealized Losses		Unrealized Gains		Unrealized Losses
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	—	$	—	$	10	$	27
Mortgage-backed securities, residential	1,471		1,266		146		6,065
Obligations of states and political subdivisions	1,580		—		70		308
Corporate bonds and notes	—		—		—		2
SBA loan pools	95		46		—		62
Total	$	3,146	$	1,312	$	226	$	6,464

Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale by Contractual Maturity

Securities not due at a single maturity date are shown separately (in thousands):

	December 31, 2019
	Amortized Cost		Fair Value
Within one year	$	725	$	726
After one, but within five years	7,095		7,324
After five, but within ten years	32,646		33,968
After ten years	1,049		1,077
Mortgage-backed securities, residential	225,029		225,234
SBA loan pools	15,712		15,761
Total	$	282,256	$	284,090

Proceeds from Sales and Calls of Securities Resulting in Gains or Losses

The proceeds from sales and calls of securities resulting in gains or losses are listed below (in thousands):

	2019			2018		2017
Proceeds	$	8,513		$	—	$	5,576
Gross gains	$	159		$	—	$	109
Gross losses	$	(140	)	$	—	$	—
Tax expense	$	5		$	—	$	41

Amortized Cost and Estimated Fair Value of Securities Held to Maturity

Amortized cost and estimated fair value of securities held to maturity at December 31, 2019 and 2018 are as follows (in thousands):

	2019				2018
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Obligations of states and political subdivisions	$	1,045	$	1,045	$	3,020	$	3,020
Time deposits with other financial institutions	2,070		2,094		1,855		1,838
	$	3,115	$	3,139	$	4,875	$	4,858

Gross unrealized gains and losses on securities held to maturity at December 31, 2019 and 2018, were as follows (in thousands):

	2019				2018
	Unrealized Gains		Unrealized Losses		Unrealized Gains		Unrealized Losses
Obligations of states and political subdivisions	$	—	$	—	$	—	$	—
Time deposits with other financial institutions	24		—		—		17
Total	$	24	$	—	$	—	$	17

Contractual Maturities of Securities Held to Maturity

The contractual maturity of securities held to maturity is as follows at December 31, 2019 (in thousands):

	December 31, 2019
	Amortized Cost		Fair Value
Within one year	$	1,583	$	1,589
After one, but within five years	1,532		1,550
After five, but within ten years	—		—
After ten years	—		—
Total	$	3,115	$	3,139

Investment Securities Available for Sale in Unrealized Loss Position

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

	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2019
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage-backed securities, residential	71,506		791		54,343		475		125,849		1,266
Obligations of states and political subdivisions	—		—		—		—		—		—
Corporate bonds and notes	—		—		—		—		—		—
SBA loan pools	3,014		9		1,405		37		4,419		46
Total temporarily impaired securities	$	74,520	$	800	$	55,748	$	512	$	130,268	$	1,312

	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2018
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