Securities (Tables)

12 Months Ended

Dec. 31, 2018

Investments Debt And Equity Securities [Abstract]

Summary of Amortized Cost and Fair Value of Securities Available for Sale, with Unrealized Gains and Losses

The amortized cost and fair value of securities available for sale, with unrealized gains and losses follows:

	December 31, 2018
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
Obligations of U.S. Government corporations and agencies	$	57,673	$	26	$	(1,290	)	$	56,409
Obligations of states and political subdivisions		14,605		93		(118	)		14,580
Corporate bonds		680		215		-			895
	$	72,958	$	334	$	(1,408	)	$	71,884

	December 31, 2017
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
Obligations of U.S. Government corporations and agencies	$	52,872	$	113	$	(608	)	$	52,377
Obligations of states and political subdivisions		15,124		191		(60	)		15,255
Corporate bonds		3,816		476		(153	)		4,139
Mutual funds		386		-		(4	)		382
	$	72,198	$	780	$	(825	)	$	72,153

Summary of Amortized Cost and Fair Value of Securities Available for Sale, by Contractual Maturity

The amortized cost and fair value of securities available for sale, by contractual maturity, are shown below.  Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without penalties.

	December 31, 2018
(In thousands)	Amortized Cost		Fair Value
Due in one year or less	$	1,001	$	1,000
Due after one year through five years		8,227		8,067
Due after five years through ten years		21,930		21,442
Due after ten years		41,800		41,375
	$	72,958	$	71,884

Schedule of Securities with Gross Unrealized Losses and Fair value, Aggregated by Investment Category and Length of Time in Continuous Unrealized Loss Position

The following table shows the Company securities with gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2018 and 2017, respectively.

(In thousands)	Less than 12 Months					12 Months or More					Total
December 31, 2018	Fair Value		Unrealized (Losses)			Fair Value		Unrealized (Losses)			Fair Value		Unrealized (Losses)
Obligations of U.S. Government corporations and agencies	$	14,901	$	(104	)	$	37,186	$	(1,186	)	$	52,087	$	(1,290	)
Obligations of states and political subdivisions		3,179		(31	)		4,086		(87	)		7,265		(118	)
Total temporarily impaired securities	$	18,080	$	(135	)	$	41,272	$	(1,273	)	$	59,352	$	(1,408	)

(In thousands)	Less than 12 Months					12 Months or More					Total
December 31, 2017	Fair Value		Unrealized (Losses)			Fair Value		Unrealized (Losses)			Fair Value		Unrealized (Losses)
Obligations of U.S. Government corporations and agencies	$	32,512	$	(330	)	$	10,008	$	(278	)	$	42,520	$	(608	)
Obligations of states and political subdivisions		4,172		(60	)		-		-			4,172		(60	)
Corporate bonds		-		-			1,540		(153	)		1,540		(153	)
Mutual funds		382		(4	)		-		-			382		(4	)
Total temporarily impaired securities	$	37,066	$	(394	)	$	11,548	$	(431	)	$	48,614	$	(825	)

Summary of Pooled Trust Preferred Security

Additional information regarding the pooled trust preferred security as of December 31, 2018 follows:

(In thousands)

Cost, net of OTTI		Fair Value (1)		Percent of Underlying Collateral Performing			Percent of Underlying Collateral in Deferral			Percent of Underlying Collateral in Default			Cumulative Amount of OTTI		Cumulative Other Comprehensive Income, net of tax
$	680	$	895		88.0	%		4.7	%		7.3	%	$	320	$	(170	)

⁽¹⁾ Current Moody’s Ratings range from B2 to Ba2.

Schedule of Credit Losses Recognized in Earnings

The following reflects the amount, in thousands, related to credit losses recognized in earnings:

(In thousands)
Beginning balance as of December 31, 2017	$	1,201
Increases in cash flows expected to be collected that are recognized over the remaining life of the security		(43	)
Reduction for gains on securities called during the period		(838	)
Ending balance as of December 31, 2018	$	320