Securities (Tables)

12 Months Ended

Dec. 31, 2019

Debt Securities, Available-for-sale [Abstract]

The amortized cost, unrealized gains, unrealized losses and estimated fair values of securities at December 31, 2019 and 2018, are summarized as follows:



	December 31, 2019
	Amortized		Unrealized
Dollars in thousands	Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities
U.S. Government and agencies and corporations	$	21,036	$	212	$	384	$	20,864
Residential mortgage-backed securities:
Government-sponsored agencies	70,379		1,031		435		70,975
Nongovernment-sponsored entities	10,253		17		41		10,229
State and political subdivisions
General obligations	12,603		25		171		12,457
Water and sewer revenues	7,170		71		114		7,127
Lease revenues	5,310		25		77		5,258
University revenues	5,917		164		16		6,065
Other revenues	18,831		344		109		19,066
Corporate debt securities	18,268		81		149		18,200
Asset-backed securities	33,826		—		812		33,014
Total taxable debt securities	203,593		1,970		2,308		203,255
Tax-exempt debt securities
State and political subdivisions
General obligations	36,673		2,526		—		39,199
Water and sewer revenues	9,565		633		—		10,198
Lease revenues	8,455		598		—		9,053
Other revenues	13,929		728		7		14,650
Total tax-exempt debt securities	68,622		4,485		7		73,100
Total available for sale securities	$	272,215	$	6,455	$	2,315	$	276,355



	December 31, 2018
	Amortized		Unrealized
Dollars in thousands	Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities
U.S. Government and agencies and corporations	$	26,303	$	203	$	366	$	26,140
Residential mortgage-backed securities:
Government-sponsored agencies	80,883		603		1,177		80,309
Nongovernment-sponsored entities	611		4		1		614
State and political subdivisions
General obligations	6,081		—		126		5,955
Other revenues	13,457		17		186		13,288
Corporate debt securities	14,807		9		304		14,512
Asset-backed securities	25,288		10		123		25,175
Total taxable debt securities	167,430		846		2,283		165,993
Tax-exempt debt securities
State and political subdivisions
General obligations	65,626		624		344		65,906
Water and sewer revenues	20,018		225		98		20,145
Lease revenues	10,980		135		7		11,108
Other revenues	30,197		77		279		29,995
Total tax-exempt debt securities	126,821		1,061		728		127,154
Total available for sale securities	$	294,251	$	1,907	$	3,011	$	293,147

Summary Of Volume of State and Political Subdivision Securities Held in Portfolio

We own no such securities of any single issuer which we deem to be a concentration.



	December 31, 2019
	Amortized		Unrealized
Dollars in thousands	Cost		Gains		Losses		Fair Value

California	$	21,194	$	1,109	$	128	$	22,175
Michigan	10,864		623		—		11,487
Illinois	9,245		410		—		9,655
Texas	8,934		344		64		9,214
West Virginia	8,490		206		7		8,689

Schedule of Realized Gain (Loss)

The proceeds from sales, calls and maturities of available for sale securities, including principal payments received on mortgage-backed obligations, and the related gross gains and losses realized are as follows:



Dollars in thousands	Proceeds from						Gross realized
			Calls and		Principal
Years ended December 31,	Sales		Maturities		Payments		Gains		Losses
2019	$	142,423	$	1,871	$	22,870	$	2,270	$	332
2018	107,559		1,145		24,814		1,785		1,163
2017	152,882		2,700		31,902		685		699

Investments Classified by Contractual Maturity Date

The maturities, amortized cost and estimated fair values of securities at December 31, 2019, are summarized as follows:



Dollars in thousands	Amortized Cost		Fair Value
Due in one year or less	$	29,692	$	29,768
Due from one to five years	79,060		79,170
Due from five to ten years	60,439		60,627
Due after ten years	103,024		106,790
Total	$	272,215	$	276,355

Schedule of Unrealized Loss on Investments

Provided below is a summary of securities available for sale which were in an unrealized loss position at December 31, 2019 and 2018.



	2019
		Less than 12 months				12 months or more				Total
Dollars in thousands	# of securities in loss position	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Taxable debt securities
U.S. Government agencies and corporations	15	$	—	$	—	$	14,903	$	384	$	14,903	$	384
Residential mortgage-backed securities:
Government-sponsored agencies	21	12,298		96		15,174		339		27,472		435
Nongovernment-sponsored entities	4	8,323		41		—		—		8,323		41
State and political subdivisions:
General obligations	10	10,581		171		—		—		10,581		171
Water and sewer revenues	4	4,421		114		—		—		4,421		114
Lease revenues	4	4,235		77		—		—		4,235		77
University revenues	1	1,307		16		—		—		1,307		16
Other revenues	6	6,517		109		—		—		6,517		109
Corporate debt securities	6	1,686		3		3,739		146		5,425		149
Asset-backed securities	15	3,441		34		29,573		778		33,014		812
Tax-exempt debt securities
State and political subdivisions:
Other revenues	2	1,183		7		—		—		1,183		7
Total	88	$	53,992	$	668	$	63,389	$	1,647	$	117,381	$	2,315



	2018
		Less than 12 months				12 months or more				Total
Dollars in thousands	# of securities in loss position	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Taxable debt securities
U.S. Government agencies and corporations	15	$	12,185	$	184	$	7,464	$	182	$	19,649	$	366
Residential mortgage-backed securities:
Government-sponsored agencies	37	23,277		241		24,472		936		47,749		1,177
Nongovernment-sponsored entities	1	—		—		436		1		436		1
State and political subdivisions:
General obligations	8	—		—		5,222		126		5,222		126
Other revenues	11	968		16		9,450		170		10,418		186
Corporate debt securities	7	2,759		109		4,587		195		7,346		304
Asset-backed securities	9	20,129		123		—		—		20,129		123
Tax-exempt debt securities
State and political subdivisions:
General obligations	25	7,273		50		16,830		294		24,103		344
Water and sewer revenues	7	989		6		4,311		92		5,300		98
Lease revenues	2	553		—		557		7		1,110		7
Other revenues	12	7,309		62		11,531		217		18,840		279
Total	134	$	75,442	$	791	$	84,860	$	2,220	$	160,302	$	3,011