Investment Securities (Tables)

12 Months Ended

Dec. 31, 2019

Investment Securities [Abstract]

Amortized Cost and Fair Values of Securities

The amortized costs and approximate fair values, together with gross unrealized gains and losses on securities, are as follows:

	December 31, 2019
			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses		Fair Value
Available for Sale Securities
Mortgage-backed securities	$	124,096	$	1,940	$	(235)	$	125,801
Collateralized mortgage obligations		91,013		562		(202)		91,373
Municipal obligations		156,845		9,417		(12)		166,250
Corporate obligations		2,991		-		(793)		2,198
Total investment securities	$	374,945	$	11,919	$	(1,242)	$	385,622

	December 31, 2018
			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses		Fair Value
Available for Sale Securities
Mortgage-backed securities	$	106,094	$	296	$	(2,047)	$	104,343
Collateralized mortgage obligations		110,994		157		(1,870)		109,281
Municipal obligations		153,976		2,008		(1,088)		154,896
Corporate obligations		2,998		-		(643)		2,355
Total investment securities	$	374,062	$	2,461	$	(5,648)	$	370,875

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

The amortized cost and fair value of securities available for sale at December 31, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Available for Sale
Description of Securities	Amortized Cost		Fair Value
Security obligations due
Within one year	$	-	$	-
One to five years		952		1,002
Five to ten years		17,197		17,939
After ten years		141,687		149,507
		159,836		168,448
Mortgage-backed securities		124,096		125,801
Collateralized mortgage obligations		91,013		91,373
Totals	$	374,945	$	385,622

Investments Gross Unrealized Losses and Fair Value in Continuous Unrealized Loss Position

The following tables show the gross unrealized losses and fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2019 and 2018:

	December 31, 2019
	Less than 12 Months				12 Months or More				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Available for Sale Securities
Mortgage-backed securities	$	8,718	$	(28)	$	16,925	$	(207)	$	25,643	$	(235)
Collateralized mortgage obligations		16,708		(56)		17,296		(146)		34,004		(202)
Municipal obligations		2,555		(12)		-		-		2,555		(12)
Corporate obligations		-		-		2,198		(793)		2,198		(793)
Total temporarily impaired securities	$	27,981	$	(96)	$	36,419	$	(1,146)	$	64,400	$	(1,242)

	December 31, 2018
	Less than 12 Months				12 Months or More				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Available for Sale Securities
Mortgage-backed securities	$	33,176	$	(348)	$	42,230	$	(1,699)	$	75,406	$	(2,047)
Collateralized mortgage obligations		15,139		(111)		64,495		(1,759)		79,634		(1,870)
Municipal obligations		35,501		(542)		14,018		(546)		49,519		(1,088)
Corporate obligations		-		-		2,355		(643)		2,355		(643)
Total temporarily impaired securities	$	83,816	$	(1,001)	$	123,098	$	(4,647)	$	206,914	$	(5,648)