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INVESTMENT SECURITIES
 3 Months Ended
Mar. 31, 2019
INVESTMENT SECURITIES  
INVESTMENT SECURITIES

4.INVESTMENT SECURITIES

 

At March 31, 2019 the Corporation has an investment security portfolio totaling $113.460 million, a decrease of $3.288 million from December 31, 2018 balance of $116.748 million. The amortized cost and estimated fair value of investment securities available for sale as of March 31, 2019 and December 31, 2018 are as follows (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

Gross

 

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Estimated

 

 

    

Cost

    

Gains

    

Losses

    

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate

 

$

20,172

 

$

30

 

$

(44)

 

$

20,158

 

US Agencies

 

 

15,952

 

 

13

 

 

(118)

 

 

15,847

 

US Agencies - MBS

 

 

31,158

 

 

345

 

 

(126)

 

 

31,377

 

Obligations of states and political subdivisions

 

 

45,654

 

 

587

 

 

(163)

 

 

46,078

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total securities available for sale 

 

$

112,936

 

$

975

 

$

(451)

 

$

113,460

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate

 

$

20,198

 

$

24

 

$

(158)

 

$

20,064

 

US Agencies

 

 

16,198

 

 

 5

 

 

(233)

 

 

15,970

 

US Agencies - MBS

 

 

32,974

 

 

124

 

 

(258)

 

 

32,840

 

Obligations of states and political subdivisions

 

 

47,828

 

 

341

 

 

(295)

 

 

47,874

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total securities available for sale

 

$

117,198

 

$

494

 

$

(944)

 

$

116,748

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2019

 

December 31, 2018

 

Amortized

 

Estimated

 

 

Amortized

 

Estimated

 

 

Cost

    

Fair Value

    

 

Cost

    

Fair Value

    

Available -for-sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

    Under 1 year

$

18,890

 

$

18,846

 

 

$

13,683

 

$

13,665

 

    After 1 year through five years

 

78,722

 

 

79,156

 

 

 

83,928

 

 

83,486

 

    After 5 years through 10 years

 

12,455

 

 

12,589

 

 

 

16,712

 

 

16,739

 

    After 10 years

 

2,869

 

 

2,869

 

 

 

2,875

 

 

2,858

 

Total available -for-sale securities

$

112,936

 

$

113,460

 

 

$

117,198

 

$

116,748

 

 

 

The Corporation has evaluated gross unrealized losses that exist within the portfolio and considers them temporary in nature.  The Corporation has both the ability and the intent to hold the investment securities until their respective maturities and therefore does not anticipate the realization of the temporary losses.

 

The amortized cost and estimated fair value of investment securities pledged to secure FHLB borrowings and customer relationships were $26.330 million and $26.583 million, respectively, at March 31, 2019.