Securities (Tables)

9 Months Ended

Sep. 30, 2020

Investments Debt And Equity Securities [Abstract]

Summary of the Amortized Cost and Fair Value of Available-for-Sale Investment Securities Corresponding Amounts of Unrealized Gains and Losses

The following table summarizes the amortized cost and fair value of the available for sale investment securities portfolio at September 30, 2020 and December 31, 2019 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income:

			Gross		Gross
	Amortized		Unrealized		Unrealized
(In Thousands of Dollars)	Cost		Gains		Losses			Fair Value
September 30, 2020
U.S. Treasury and U.S. government sponsored entities	$	3,790	$	118	$	0		$	3,908
State and political subdivisions		307,946		19,606		(131	)		327,421
Corporate bonds		3,574		147		0			3,721
Mortgage-backed securities - residential		105,799		5,263		0			111,062
Collateralized mortgage obligations - residential		28,734		827		(2	)		29,559
Small Business Administration		5,652		186		0			5,838
Totals	$	455,495	$	26,147	$	(133	)	$	481,509

			Gross		Gross
	Amortized		Unrealized		Unrealized
(In Thousands of Dollars)	Cost		Gains		Losses			Fair Value
December 31, 2019
U.S. Treasury and U.S. government sponsored entities	$	3,773	$	41	$	(3	)	$	3,811
State and political subdivisions		250,905		10,944		(424	)		261,425
Corporate bonds		1,238		22		0			1,260
Mortgage-backed securities - residential		145,886		2,396		(372	)		147,910
Collateralized mortgage obligations - residential		11,459		101		(213	)		11,347
Small Business Administration		6,534		0		(54	)		6,480
Totals	$	419,795	$	13,504	$	(1,066	)	$	432,233

Amortized Cost and Fair Value of the Debt Securities Maturity

The amortized cost and fair value of the debt securities portfolio are shown by expected maturity.  Expected maturities may differ from contractual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.

	September 30, 2020
(In Thousands of Dollars)	Amortized Cost		Fair Value
Maturity
Within one year	$	935	$	941
One to five years		7,982		8,151
Five to ten years		25,863		27,470
Beyond ten years		280,530		298,488
Mortgage-backed, collateralized mortgage obligations and Small Business Administration securities		140,185		146,459
Total	$	455,495	$	481,509

Available for Sale Investment Securities with Unrealized Losses

The following table summarizes the available for sale investment securities with unrealized losses at September 30, 2020 and December 31, 2019, aggregated by major security type and length of time in a continuous unrealized loss position.

	Less than 12 Months					12 Months or Longer				Total
	Fair		Unrealized			Fair		Unrealized		Fair		Unrealized
(In Thousands of Dollars)	Value		Loss			Value		Loss		Value		Loss
September 30, 2020
State and political subdivisions	$	9,816	$	(131	)	$	0	$	0	$	9,816	$	(131	)
Collateralized mortgage obligations - residential		311		(2	)		0		0		311		(2	)
Total	$	10,127	$	(133	)	$	0	$	0	$	10,127	$	(133	)

	Less than 12 Months					12 Months or Longer					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(In Thousands of Dollars)	Value		Loss			Value		Loss			Value		Loss
December 31, 2019
U.S. Treasury and U.S. government sponsored entities	$	0	$	0		$	622	$	(3	)	$	622	$	(3	)
State and political subdivisions		30,887		(424	)		0		0			30,887		(424	)
Corporate bonds		0		0			100		0			100		0
Mortgage-backed securities - residential		14,435		(98	)		22,381		(274	)		36,816		(372	)
Collateralized mortgage obligations - residential		1,198		(18	)		7,935		(195	)		9,133		(213	)
Small Business Administration		6,479		(54	)		1		0			6,480		(54	)
Total	$	52,999	$	(594	)	$	31,039	$	(472	)	$	84,038	$	(1,066	)