Securities (Tables)

9 Months Ended

Sep. 30, 2019

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:

	September 30, 2019
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Fair Value
Obligations of U.S. Government corporations and agencies	$	57,305	$	997	$	(55	)	$	58,247
Obligations of states and political subdivisions		13,457		854		(1	)		14,310
	$	70,762	$	1,851	$	(56	)	$	72,557

	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

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.

	September 30, 2019
(In thousands)	Amortized Cost		Fair Value
Due in one year or less	$	14	$	14
Due after one year through five years		12,300		12,472
Due after five years through ten years		13,486		13,811
Due after ten years		44,962		46,260
	$	70,762	$	72,557

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

The following table shows the Company’s securities with gross unrealized losses, 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, respectively.

(In thousands)	Less than 12 Months					12 Months or More					Total
September 30, 2019	Fair Value		Unrealized (Losses)			Fair Value		Unrealized (Losses)			Fair Value		Unrealized (Losses)
Obligations of U.S. Government corporations and agencies	$	2,788	$	(6	)	$	5,829	$	(49	)	$	8,617	$	(55	)
Obligations of states and political subdivisions		696		(1	)		-		-			696		(1	)
Total temporary impaired securities	$	3,484	$	(7	)	$	5,829	$	(49	)	$	9,313	$	(56	)

(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 temporary impaired securities	$	18,080	$	(135	)	$	41,272	$	(1,273	)	$	59,352	$	(1,408	)

Schedule of Credit Losses Recognized in Earnings

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

(In thousands)
Beginning balance as of December 31, 2018	$	320
Changes in cash flows expected to be collected that are recognized over the remaining life of the security		-
Reduction for security sold during the period		(320	)
Ending balance as of September 30, 2019	$	-