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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost, gross unrealized gains and losses, and fair values of equity and trading investment securities
The amortized cost, gross unrealized gains and losses, and fair values of our investment securities portfolio at March 31, 2019 and December 31, 2018 are as follows:
 
 
March 31, 2019
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
(In Thousands)
 
Cost
 
Gains
 
Losses
 
Value
Available for sale (AFS):
 
 

 
 

 
 

 
 

Mortgage-backed securities
 
$
6,120

 
$
9

 
$
(149
)
 
$
5,980

State and political securities
 
85,456

 
1,632

 
(130
)
 
86,958

Other debt securities
 
49,937

 
69

 
(1,182
)
 
48,824

Total debt securities
 
$
141,513

 
$
1,710

 
$
(1,461
)
 
$
141,762

 
 
 
 
 
 
 
 
 
Investment equity securities:
 
 
 
 
 
 
 
 
Financial institution equity securities
 
$
328

 
$
252

 
$
—

 
$
580

Other equity securities
 
1,300

 
—

 
(61
)
 
1,239

Investment equity securities
 
$
1,628

 
$
252

 
$
(61
)
 
$
1,819

 
 
 
 
 
 
 
 
 
Trading:
 
 
 
 
 
 
 
 
Other equity securities
 
$
50

 
$
—

 
$
(8
)
 
$
42

 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
(In Thousands)
 
Cost
 
Gains
 
Losses
 
Value
Available for sale (AFS):
 
 

 
 

 
 

 
 

Mortgage-backed securities
 
$
6,385

 
$
8

 
$
(240
)
 
$
6,153

State and political securities
 
79,358

 
609

 
(426
)
 
79,541

Other debt securities
 
50,264

 
17

 
(1,690
)
 
48,591

Total debt securities
 
$
136,007

 
$
634

 
$
(2,356
)
 
$
134,285

 
 
 
 
 
 
 
 
 
Investment equity securities:
 
 
 
 
 
 
 
 
Financial institution equity securities
 
$
328

 
$
224

 
$
—

 
$
552

Other equity securities
 
1,300

 
—

 
(76
)
 
1,224

Investment equity securities
 
$
1,628

 
$
224

 
$
(76
)
 
$
1,776

 
 
 
 
 
 
 
 


Trading:
 
 
 
 
 
 
 
 
Other equity securities
 
$
49

 
$
—

 
$
(13
)
 
$
36

 
 
 
 
 
 
 
 
 
Schedule of gross unrealized losses and fair value
The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time, that the individual debt securities have been in a continuous unrealized loss position, at March 31, 2019 and December 31, 2018.
 
 
March 31, 2019
 
 
Less than Twelve Months
 
Twelve Months or Greater
 
Total
 
 
 
 
Gross
 
 
 
Gross
 
 
 
Gross
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
(In Thousands)
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
Available for sale (AFS):
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
$
1,168

 
$
(9
)
 
$
4,612

 
$
(140
)
 
$
5,780

 
$
(149
)
State and political securities
 
2,409

 
(1
)
 
6,559

 
(129
)
 
8,968

 
(130
)
Other debt securities
 
5,765

 
(14
)
 
36,588

 
(1,168
)
 
42,353

 
(1,182
)
Total debt securities
 
$
9,342

 
$
(24
)
 
$
47,759

 
$
(1,437
)
 
$
57,101

 
$
(1,461
)
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
December 31, 2018
 
 
Less than Twelve Months
 
Twelve Months or Greater
 
Total
 
 
 
 
Gross
 
 
 
Gross
 
 
 
Gross
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
(In Thousands)
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
Available for sale (AFS):
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
$
3,023

 
$
(75
)
 
$
2,930

 
$
(165
)
 
$
5,953

 
$
(240
)
State and political securities
 
14,819

 
(128
)
 
13,648

 
(298
)
 
28,467

 
(426
)
Other debt securities
 
10,133

 
(153
)
 
34,776

 
(1,537
)
 
44,909

 
(1,690
)
Total debt securities
 
$
27,975

 
$
(356
)
 
$
51,354

 
$
(2,000
)
 
$
79,329

 
$
(2,356
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of amortized cost and fair value of debt securities by contractual maturity
The amortized cost and fair value of debt securities at March 31, 2019, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In Thousands)
 
Amortized Cost
 
Fair Value
Due in one year or less
 
$
3,708

 
$
3,713

Due after one year to five years
 
45,818

 
45,010

Due after five years to ten years
 
69,669

 
70,352

Due after ten years
 
22,318

 
22,687

Total
 
$
141,513

 
$
141,762
Schedule of gross realized gains and losses
The following table represents gross realized gains and losses from the sales of debt securities available for sale:
 
 
Three Months Ended March 31,
(In Thousands)
 
2019
 
2018
Available for sale (AFS):
 
 
 
 
Gross realized gains:
 
 

 
 

State and political securities
 
$
15

 
$
—

Other debt securities
 
4

 
—

Total gross realized gains
 
$
19

 
$
—

 
 
 
 
 
Gross realized losses:
 
 

 
 

State and political securities
 
$
2

 
$
9

Other debt securities
 
4

 
—

Total gross realized losses
 
$
6

 
$
9

 
 
 
 
 
Schedule of unrealized and realized gains and losses recognized in net income
The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three months ended March 31, 2019 and 2018:
 
 
Three Months Ended March 31,
(In Thousands)
 
2019
 
2018
Net gains (losses) recognized in equity securities during the period
 
$
43

 
$
(34
)
Less: Net gains (losses) realized on the sale of equity securities during the period
 
—

 
—

Unrealized gains (losses) recognized in equity securities held at reporting date
 
$
43

 
(34
)
 
 
 
 
 


Net gains and losses on trading account securities are as follows for the three months ended March 31, 2019 and 2018:
 
 
Three Months Ended March 31,
(In Thousands)
 
2019
 
2018
Net gains (losses) on sale transactions
 
$
5

 
$
(15
)
Net mark-to-market gains (losses)
 
5

 
18

Net gain (loss) on trading account securities
 
$
10

 
$
3