Investment Securities (Tables)

9 Months Ended

Sep. 30, 2019

Securities Financing Transactions Disclosures [Abstract]

Unrealized Gain (Loss) on Investments

The amortized cost, fair value, and unrealized gains and losses on investment securities at September 30, 2019 and December 31, 2018 are as follows:

(Dollars in thousands)	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
September 30, 2019
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies	$	32,611	$	33	$	111	$	32,533
Mortgage-backed U.S. government agencies		16,638		8		135		16,511
State and political subdivision obligations		1,059		—		4		1,055
Corporate debt securities		2,250		70		—		2,320
Total available-for-sale debt securities		52,558		111		250		52,419
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies		19,421		39		20		19,440
Mortgage-backed U.S. government agencies		67,472		521		119		67,874
State and political subdivision obligations		82,051		2,820		—		84,871
Corporate debt securities		1,528		9		—		1,537
Total held-to-maturity debt securities		170,472		3,389		139		173,722
Total	$	223,030	$	3,500	$	389	$	226,141

(Dollars in thousands)	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
December 31, 2018
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies	$	43,270	$	10	$	1,708	$	41,572
Mortgage-backed U.S. government agencies		39,865		—		1,016		38,849
State and political subdivision obligations		30,642		11		1,397		29,256
Corporate debt securities		2,250		—		4		2,246
Total available-for-sale debt securities		116,027		21		4,125		111,923
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies		16,985		14		143		16,856
Mortgage-backed U.S. government agencies		65,812		46		1,310		64,548
State and political subdivision obligations		84,034		457		842		83,649
Corporate debt securities		1,539		—		10		1,529
Total held-to-maturity debt securities		168,370		517		2,305		166,582
Total	$	284,397	$	538	$	6,430	$	278,505

Schedule of Fair Value and Unrealized Loss on Investments in a Continuous Unrealized Loss Position

The following tables present gross unrealized losses and fair value of debt security investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2019 and December 31, 2018.

(Dollars in thousands)	Less Than 12 Months					12 Months or More					Total
	Number					Number					Number
	of	Fair		Unrealized		of	Fair		Unrealized		of	Fair		Unrealized
September 30, 2019	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies	3	$	6,988	$	12	7	$	11,940	$	99	10	$	18,928	$	111
Mortgage-backed U.S. government agencies	1		627		2	14		11,277		133	15		11,904		135
State and political subdivision obligations	2		1,025		4	0		—		—	2		1,025		4
Total temporarily impaired available-for-sale debt securities	6	$	8,640	$	18	21	$	23,217	$	232	27	$	31,857	$	250
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies	3	$	7,447	$	15	1	$	2,994	$	5	4	$	10,441	$	20
Mortgage-backed U.S. government agencies	7		11,239		15	15		13,403		104	22		24,642		119
Total temporarily impaired held-to-maturity debt securities	10	$	18,686	$	30	16	$	16,397	$	109	26	$	35,083	$	139
Total	16	$	27,326	$	48	37	$	39,614	$	341	53	$	66,940	$	389

(Dollars in thousands)	Less Than 12 Months					12 Months or More						Total
	Number					Number						Number
	of	Fair		Unrealized		of	Fair		Unrealized			of	Fair		Unrealized
December 31, 2018	Securities	Value		Losses		Securities	Value		Losses			Securities	Value		Losses
Available-for-sale securities:
U.S. Treasury and U.S. government agencies	0	$	—	$	—	21	$	38,386		$	1,708	21	$	38,386	$	1,708
Mortgage-backed U.S. government agencies	11		16,740		163	19		22,093			853	30		38,833		1,016
State and political subdivision obligations	3		1,751		23	51		24,520			1,374	54		26,271		1,397
Corporate debt securities	2		1,996		4	0		—			—	2		1,996		4
Total temporarily impaired available-for-sale securities	16	$	20,487	$	190	91	$	84,999		$	3,935	107	$	105,486	$	4,125
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies	1	$	1,985	$	10	3	$	8,852		$	133	4	$	10,837	$	143
Mortgage-backed U.S. government agencies	10		16,165		79	35		42,431			1,231	45		58,596		1,310
State and political subdivision obligations	26		11,321		111	77		29,460			731	103		40,781		842
Corporate debt securities	1		1,529		10	0		—			—	1		1,529		10
Total temporarily impaired held to maturity securities	38	$	31,000	$	210	115	$	80,743		$	2,095	153	$	111,743	$	2,305
Total	54	$	51,487	$	400	206	$	165,742		$	6,030	260	$	217,229	$	6,430

Schedule of Gross Realized Gains (Losses) on Sales of Available-For-Sale Securities

Gross realized gains and losses on sales of available-for-sale debt securities for the three and nine months ended September 30, 2019 and 2018 are shown in the table below.

(Dollars in thousands)	Three Months Ended September 30,							Nine Months Ended September 30,
	2019				2018			2019				2018
Realized gains		$	64			$	30		$	133			$	141
Realized losses			(18	)			—			(63	)			(9	)
Net gains		$	46			$	30		$	70			$	132

Investments Classified by Contractual Maturity Date

The table below illustrates the maturity distribution of investment securities at amortized cost and fair value as of September 30, 2019.

(Dollars in thousands)	Available-for-sale				Held-to-maturity
	Amortized		Fair		Amortized		Fair
September 30, 2019	Cost		Value		Cost		Value
Due in 1 year or less	$	—	$	—	$	3,990	$	3,992
Due after 1 year but within 5 years		19,457		19,403		19,663		19,926
Due after 5 years but within 10 years		16,463		16,505		79,347		81,930
Due after 10 years		—		—		—		—
		35,920		35,908		103,000		105,848
Mortgage-backed securities		16,638		16,511		67,472		67,874
	$	52,558	$	52,419	$	170,472	$	173,722