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Securities (Tables)
6 Months Ended
Jun. 30, 2021
Investments Debt And Equity Securities [Abstract]  
Available for Sale Securities

The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized were as follows:

 

June 30, 2021

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

U.S. Treasury securities and obligations of U.S.

   government agencies

 

$

56,359

 

 

$

195

 

 

$

(151

)

 

$

56,403

 

Obligations of states and political subdivisions

 

 

218,812

 

 

 

19,222

 

 

 

(65

)

 

 

237,969

 

Mortgage-backed securities in government sponsored

   entities

 

 

159,353

 

 

 

4,375

 

 

 

(296

)

 

 

163,432

 

Total debt securities

 

$

434,524

 

 

$

23,792

 

 

$

(512

)

 

$

457,804

 

 

December 31, 2020

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

U.S. Treasury securities and obligations of U.S.

   government agencies

 

$

21,479

 

 

$

220

 

 

$

(6

)

 

$

21,693

 

Obligations of states and political subdivisions

 

 

208,013

 

 

 

21,000

 

 

 

(1

)

 

 

229,012

 

Mortgage-backed securities in government sponsored

   entities

 

 

106,824

 

 

 

5,963

 

 

 

(28

)

 

 

112,759

 

Total debt securities

 

$

336,316

 

 

$

27,183

 

 

$

(35

)

 

$

363,464

 

Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at June 30, 2021, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities are shown separately.

 

Available for sale

 

Amortized

Cost

 

 

Fair

Value

 

Due in one year or less

 

$

12,161

 

 

$

12,246

 

Due after one year through five years

 

 

31,649

 

 

 

31,878

 

Due after five years through ten years

 

 

45,020

 

 

 

46,966

 

Due after ten years

 

 

186,341

 

 

 

203,282

 

Mortgage-backed securities

 

 

159,353

 

 

 

163,432

 

Total securities available for sale

 

$

434,524

 

 

$

457,804

 

Proceeds from Sales of Securities Available for Sale, Gross Realized Gains and Losses

Proceeds from sales of securities available for sale, gross realized gains and gross realized losses were as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Sale proceeds

 

$

1,785

 

 

$

 

 

$

1,785

 

 

$

 

Gross realized gains

 

 

1,785

 

 

 

 

 

 

1,785

 

 

 

 

Gross realized losses

 

 

 

 

 

 

 

 

 

 

 

 

Losses from securities called or settled by

   the issuer

 

 

(1

)

 

 

 

 

 

(2

)

 

 

 

Securities with Unrealized Losses Not Recognized in Income

Securities with unrealized losses at June 30, 2021 and December 31, 2020 not recognized in income are set forth in the tables below, segregated by securities with maturities of 12 months or less and securities with maturities of more than 12 months:

 

June 30, 2021

 

12 Months or less

 

 

More than 12 months

 

 

Total

 

Description of Securities

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

U.S. Treasury securities and obligations of

   U.S. government agencies

 

$

25,292

 

 

$

(151

)

 

$

 

 

$

 

 

$

25,292

 

 

$

(151

)

Obligations of states and political subdivisions

 

 

6,428

 

 

 

(65

)

 

 

 

 

 

 

 

 

6,428

 

 

 

(65

)

Mortgage-backed securities in gov’t sponsored

   entities

 

 

77,314

 

 

 

(239

)

 

 

2,633

 

 

 

(57

)

 

 

79,947

 

 

 

(296

)

Total temporarily impaired

 

$

109,034

 

 

$

(455

)

 

$

2,633

 

 

$

(57

)

 

$

111,667

 

 

$

(512

)

 

December 31, 2020

 

12 Months or less

 

 

More than 12 months

 

 

Total

 

Description of Securities

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

 

Fair

Value

 

 

Unrealized

Loss

 

U.S. Treasury securities and obligations of

   U.S. government agencies

 

$

6,501

 

 

$

(5

)

 

$

126

 

 

$

(1

)

 

$

6,627

 

 

$

(6

)

Obligations of states and political subdivisions

 

 

1,874

 

 

 

(1

)

 

 

 

 

 

 

 

 

1,874

 

 

 

(1

)

Mortgage-backed securities in gov’t sponsored

   entities

 

 

5,755

 

 

 

(28

)

 

 

 

 

 

 

 

 

5,755

 

 

 

(28

)

Total temporarily impaired

 

$

14,130

 

 

$

(34

)

 

$

126

 

 

$

(1

)

 

$

14,256

 

 

$

(35

)

Schedule of Net Gains and Losses on Equity Investments Recognized in Earnings and Portion of Unrealized Gains and Losses for Period that Relates to Equity Investments

The following table presents the net gains and losses on equity investments recognized in earnings for the three- and six-months ended June 30, 2021 and 2020, and the portion of unrealized gains and losses for the period that relates to equity investments held at June 30, 2021 and 2020:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net gains (losses) recognized on equity securities

   during the period

 

$

53

 

 

$

(5

)

 

$

141

 

 

$

(146

)

Less: Net losses realized on the sale of

   equity securities during the period

 

 

 

 

 

 

 

 

 

 

 

6

 

Unrealized gains (losses) recognized on equity

   securities held at reporting date

 

$

53

 

 

$

(5

)

 

$

141

 

 

$

(140

)