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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2020
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, 2020 and December 31, 2019 are as follows:
 
 
March 31, 2020
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
(In Thousands)
 
Cost
 
Gains
 
Losses
 
Value
Available for sale (AFS):
 
 

 
 

 
 

 
 

Mortgage-backed securities
 
$
4,874

 
$
125

 
$
—

 
$
4,999

State and political securities
 
87,545

 
4,574

 
(79
)
 
92,040

Other debt securities
 
59,323

 
543

 
(1,383
)
 
58,483

Total debt securities
 
$
151,742

 
$
5,242

 
$
(1,462
)
 
$
155,522

 
 
 
 
 
 
 
 
 
Investment equity securities:
 
 
 
 
 
 
 
 
Other equity securities
 
$
1,300

 
$
7

 
$
(26
)
 
$
1,281

 
 
 
 
 
 
 
 
 
Trading:
 
 
 
 
 
 
 
 
Other equity securities
 
$
50

 
$
—

 
$
(13
)
 
$
37

 
 
 
 
 
 
 
 
 
 
 
December 31, 2019
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
(In Thousands)
 
Cost
 
Gains
 
Losses
 
Value
Available for sale (AFS):
 
 

 
 

 
 

 
 

Mortgage-backed securities
 
$
4,956

 
$
56

 
$
(46
)
 
$
4,966

State and political securities
 
79,064

 
3,299

 
(77
)
 
82,286

Other debt securities
 
61,492

 
401

 
(526
)
 
61,367

Total debt securities
 
$
145,512

 
$
3,756

 
$
(649
)
 
$
148,619

 
 
 
 
 
 
 
 
 
Investment equity securities:
 
 
 
 
 
 
 
 
Other equity securities
 
$
1,300

 
$
—

 
$
(39
)
 
$
1,261

 
 
 
 
 
 
 
 


Trading:
 
 
 
 
 
 
 
 
Other equity securities
 
$
50

 
$
3

 
$
(2
)
 
$
51

 
 
 
 
 
 
 
 
 
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, 2020 and December 31, 2019.
 
 
March 31, 2020
 
 
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
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

State and political securities
 
5,887

 
(61
)
 
242

 
(18
)
 
6,129

 
(79
)
Other debt securities
 
21,691

 
(1,068
)
 
11,185

 
(315
)
 
32,876

 
(1,383
)
Total debt securities
 
$
27,578

 
$
(1,129
)
 
$
11,427

 
$
(333
)
 
$
39,005

 
$
(1,462
)
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
December 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
 
$
—

 
$
—

 
$
2,115

 
$
(46
)
 
$
2,115

 
$
(46
)
State and political securities
 
7,958

 
(40
)
 
224

 
(37
)
 
8,182

 
(77
)
Other debt securities
 
13,373

 
(216
)
 
14,258

 
(310
)
 
27,631

 
(526
)
Total debt securities
 
$
21,331

 
$
(256
)
 
$
16,597

 
$
(393
)
 
$
37,928

 
$
(649
)
 
 
 
 
 
 
 
 
 
 
 
 
 
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, 2020, 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
 
$
5,642

 
$
5,657

Due after one year to five years
 
55,063

 
55,073

Due after five years to ten years
 
67,078

 
70,403

Due after ten years
 
23,959

 
24,389

Total
 
$
151,742

 
$
155,522
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)
 
2020
 
2019
Available for sale (AFS):
 
 
 
 
Gross realized gains:
 
 

 
 

State and political securities
 
$
1

 
$
15

Other debt securities
 
20

 
4

Total gross realized gains
 
$
21

 
$
19

 
 
 
 
 
Gross realized losses:
 
 

 
 

State and political securities
 
$
—

 
$
2

Other debt securities
 
—

 
4

Total gross realized losses
 
$
—

 
$
6

 
 
 
 
 
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, 2020 and 2019:
 
 
Three Months Ended March 31,
(In Thousands)
 
2020
 
2019
Net (losses) gains recognized in equity securities during the period
 
$
20

 
$
43

Less: Net gains realized on the sale of equity securities during the period
 
—

 
—

Unrealized (losses) gains recognized in equity securities held at reporting date
 
$
20

 
$
43

 
 
 
 
 

Net gains and losses on trading account securities are as follows for the three months ended March 31, 2020 and 2019:
 
 
Three Months Ended March 31,
(In Thousands)
 
2020
 
2019
Net gains on sale transactions
 
$
—

 
$
5

Net mark-to-market (losses) gains
 
(14
)
 
5

Net (loss) gain on trading account securities
 
$
(14
)
 
$
10