Quarterly report pursuant to Section 13 or 15(d)

SECURITIES (Tables)

v3.19.3
SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2019
SECURITIES [Abstract]  
Amortized Cost and Fair Value of Securities
The amortized cost and fair value of securities at period-end were as follows (dollars in thousands):

   
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair
Value
  
September 30, 2019
                        
Available for Sale
                        
U.S. Treasury and federal agency securities
  
$
79,489
    
$
85
    
$
(182
)
  
$
79,392
  
U.S. Agency MBS and CMOs
    
34,512
      
614
      
(27
)
    
35,099
  
Tax-exempt state and municipal bonds
    
45,282
      
1,192
      
—
      
46,474
  
Taxable state and municipal bonds
    
43,319
      
459
      
(24
)
    
43,754
  
Corporate bonds and other debt securities
    
5,128
      
55
      
(7
)
    
5,176
  
   
$
207,730
    
$
2,405
    
$
(240
)
  
$
209,895
  
Held to Maturity
                                
Tax-exempt state and municipal bonds
  
$
81,995
    
$
3,114
    
$
—
    
$
85,109
  

   
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair
Value
  
December 31, 2018
                        
Available for Sale
                        
U.S. Treasury and federal agency securities
  
$
97,102
    
$
6
    
$
(1,710
)
  
$
95,398
  
U.S. Agency MBS and CMOs
    
33,287
      
97
      
(494
)
    
32,890
  
Tax-exempt state and municipal bonds
    
45,212
      
246
      
(331
)
    
45,127
  
Taxable state and municipal bonds
    
46,565
      
59
      
(690
)
    
45,934
  
Corporate bonds and other debt securities
    
7,703
      
2
      
(68
)
    
7,637
  
   
$
229,869
    
$
410
    
$
(3,293
)
  
$
226,986
  
Held to Maturity
                                
Tax-exempt state and municipal bonds
  
$
70,334
    
$
1,488
    
$
(317
)
  
$
71,505
  
Contractual Maturities of Debt Securities
Contractual maturities of debt securities at September 30, 2019 were as follows (dollars in thousands):

   
Held–to-Maturity Securities
    
Available-for-Sale Securities
  
   
Amortized
Cost
    
Fair
Value
    
Amortized
Cost
    
Fair
Value
  
Due in one year or less
  
$
18,061
    
$
18,143
    
$
22,217
    
$
22,217
  
Due from one to five years
    
30,741
      
31,472
      
111,718
      
112,399
  
Due from five to ten years
    
13,403
      
14,253
      
39,863
      
40,781
  
Due after ten years
    
19,790
      
21,241
      
33,932
      
34,498
  
   
$
81,995
    
$
85,109
    
$
207,730
    
$
209,895
  
Securities in Continuous Unrealized Loss Position
Securities with unrealized losses at September 30, 2019 and December 31, 2018, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows (dollars in thousands):

   
Less than 12 Months
    
12 Months or More
    
Total
  
September 30, 2019
  
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
Available for Sale
                                    
U.S. Treasury and federal agency securities
  
$
4,007
    
$
(10
)
  
$
39,233
    
$
(172
)
  
$
43,240
    
$
(182
)
U.S. Agency MBS and CMOs
    
2,857
      
(15
)
    
1,282
      
(12
)
    
4,139
      
(27
)
Tax-exempt state and municipal bonds
    
447
      
—
      
—
      
—
      
447
      
—
  
Taxable state and municipal bonds
    
3,036
      
(7
)
    
6,729
      
(17
)
    
9,765
      
(24
)
Corporate bonds and other debt securities
    
—
      
—
      
1,253
      
(7
)
    
1,253
      
(7
)
Total
  
$
10,347
    
$
(32
)
  
$
48,497
    
$
(208
)
  
$
58,844
    
$
(240
)
                                                 
Held to Maturity
                                                
Tax-exempt state and municipal bonds
  
$
—
    
$
—
    
$
—
    
$
—
    
$
—
    
$
—
  

   
Less than 12 Months
    
12 Months or More
    
Total
  
December 31, 2018
  
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
Available for Sale
                                    
U.S. Treasury and federal agency securities
  
$
1,974
    
$
(26
)
  
$
82,895
    
$
(1,622
)
  
$
84,869
    
$
(1,648
)
U.S. Agency MBS and CMOs
    
1,728
      
(13
)
    
18,712
      
(481
)
    
20,440
      
(494
)
Tax-exempt state and municipal bonds
    
8,987
      
(69
)
    
10,785
      
(262
)
    
19,772
      
(331
)
Taxable state and municipal bonds
    
4,035
      
(19
)
    
37,021
      
(671
)
    
41,056
      
(690
)
Corporate bonds and other debt securities
    
2,698
      
(12
)
    
8,170
      
(118
)
    
10,868
      
(130
)
Total temporarily impaired
  
$
19,422
    
$
(139
)
  
$
157,583
    
$
(3,154
)
  
$
177,005
    
$
(3,293
)
                                                 
Held to Maturity
                                                
Tax-exempt state and municipal bonds
  
$
8,533
    
$
(76
)
  
$
4,683
    
$
(241
)
  
$
13,216
    
$
(317
)