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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Available For Sale And Held For Maturity Securities [Table Text Block]
The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at March 31, 2020 and December 31, 2019 were as follows (in thousands):

 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized (Losses)
 
Fair Value
March 31, 2020
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations & agencies
$
56,067

 
$
716

 
$
(94
)
 
$
56,689

Obligations of states and political subdivisions
167,146

 
260

 
(3,904
)
 
163,502

Mortgage-backed securities: GSE residential
385,194

 
10,717

 
(400
)
 
395,511

Other securities
2,028

 
112

 
(41
)
 
2,099

Total available-for-sale
$
610,435

 
$
11,805

 
$
(4,439
)
 
$
617,801

Held-to-maturity:
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations & agencies
$
24,563

 
$
243

 
$
—

 
$
24,806

 
 
 
 
 
 
 
 
December 31, 2019
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations & agencies
$
106,428

 
$
952

 
$
(60
)
 
$
107,320

Obligations of states and political subdivisions
172,460

 
5,990

 
(17
)
 
178,433

Mortgage-backed securities: GSE residential
391,307

 
5,331

 
(512
)
 
396,126

Other securities
4,028

 
141

 
—

 
4,169

Total available-for-sale
$
674,223

 
$
12,414

 
$
(589
)
 
$
686,048

Held-to-maturity:
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations & agencies
$
69,542

 
$
99

 
$
(69
)
 
$
69,572
Realized Gains and Losses From Sale of Securities
Realized gains and losses resulting from sales of securities were as follows during the three months ended March 31, 2020 and 2019 (in thousands):
 
Three months ended March 31,
 
2020
 
2019
Gross gains
$
531

 
$
84

Gross losses
—

 
(30
)
Investments Classified by Contractual Maturity Date
The following table indicates the expected maturities of investment securities classified as available-for-sale presented at fair value, and held-to-maturity presented at amortized cost, at March 31, 2020 and the weighted average yield for each range of maturities (dollars in thousands):
 
One year or less
 
After 1 through 5 years
 
After 5 through 10 years
 
After ten years
 
Total
Available-for-sale:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
41,026

 
$
15,663

 
$
—

 
$
—

 
$
56,689

Obligations of state and political subdivisions
26,677

 
69,512

 
65,164

 
2,149

 
163,502

Mortgage-backed securities: GSE residential
73,878

 
310,186

 
11,447

 
—

 
395,511

Other securities
—

 
1,759

 
—

 
340

 
2,099

Total available-for-sale investments
$
141,581

 
$
397,120

 
$
76,611

 
$
2,489

 
$
617,801

Weighted average yield
2.42
%
 
2.67
%
 
2.93
%
 
2.88
%
 
2.65
%
Full tax-equivalent yield
2.63
%
 
2.87
%
 
3.93
%
 
3.79
%
 
2.96
%
Held to Maturity:
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
19,536

 
$
5,027

 
$
—

 
$
—

 
$
24,563

Weighted average yield
1.93
%
 
2.06
%
 
—
%
 
—
%
 
1.96
%
Full tax-equivalent yield
1.93
%
 
2.06
%
 
—
%
 
—
%
 
1.96
%


The weighted average yields are calculated on the basis of the amortized cost and effective yields weighted for the scheduled maturity of each security. Tax-equivalent yields have been calculated using a 21% tax rate.  With the exception of obligations of the U.S. Treasury and other U.S. government agencies and corporations, there were no investment securities of any single issuer, the book value of which exceeded 10% of stockholders' equity at March 31, 2020.
Fair value of investments with sustained gross unrealized losses
The following table presents the aging of gross unrealized losses and fair value by investment category as of March 31, 2020 and December 31, 2019 (in thousands):
 
Less than 12 months
 
12 months or more
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
March 31, 2020
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
5,802

 
$
(94
)
 
$
—

 
$
—

 
$
5,802

 
$
(94
)
Obligations of states and political subdivisions
119,614

 
(3,904
)
 
—

 
—

 
119,614

 
(3,904
)
Mortgage-backed securities: GSE residential
51,736

 
(315
)
 
3,679

 
(85
)
 
55,415

 
(400
)
Other securities
709

 
(41
)
 
—

 
—

 
709

 
(41
)
Total
$
177,861

 
$
(4,354
)
 
$
3,679

 
$
(85
)
 
$
181,540

 
$
(4,439
)
December 31, 2019
 

 
 

 
 

 
 

 
 

 
 

Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
23,375

 
$
(60
)
 
$
—

 
$
—

 
$
23,375

 
$
(60
)
Obligations of states and political subdivisions
3,469

 
(16
)
 
347

 
(1
)
 
3,816

 
(17
)
Mortgage-backed securities: GSE residential
67,080

 
(322
)
 
20,888

 
(190
)
 
87,968

 
(512
)
Total
$
93,924

 
$
(398
)
 
$
21,235

 
$
(191
)
 
$
115,159

 
$
(589
)
Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury securities and obligations of U.S. government corporations and agencies
$
14,996

 
$
(25
)
 
$
24,565

 
$
(44
)
 
$
39,561

 
$
(69
)