Securities (Tables)

12 Months Ended

Dec. 31, 2019

Securities

Schedule of Amortized Cost and Approximate Fair Values, Together with Gross Unrealized Gains and Losses of Securities

The amortized cost and approximate fair values, together with gross unrealized gains and losses of securities are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In thousands)
Available-for-sale Securities:
December 31, 2019:
U.S. government agencies	$	40,000	$	––	$	(472)	$	39,528
Subordinated notes		4,500		36		(4)		4,532
State and municipal obligations		135,897	$	8,993		(165)		144,725
Total debt securities	$	180,397	$	9,029	$	(641)	$	188,785
Available-for-sale Securities:
December 31, 2018:
U.S. government agencies	$	45,250	$	—	$	(500)	$	44,750
State and municipal obligations	$	78,083	$	1,194	$	(36)	$	79,241
Total debt securities	$	123,333	$	1,194	$	(536)	$	123,991

Schedule of Amortized Cost and Fair Value of available-for-Sale Securities by Contractual Maturity

The amortized cost and fair value of available-for-sale securities at December 31, 2018, by contractual maturity, are shown below.  Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized		Fair
	Cost		Value
	(In thousands)
Under 1 year	$	6,000	$	5,995
One to five years		38,500		38,065
Over ten years		135,897		144,725
Totals	$	180,397	$	188,785

Schedule of Investments' Gross Unrealized Losses and Fair Value, aggregated by investment category and length of time

The following tables show the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2019 and 2018:

	December 31, 2019
	Less than 12 Months				12 Months or More				Total
Description of	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
Securities	Value		Losses		Value		Losses		Value		Losses
	(In thousands)
US government agencies	$	39,528	$	(472)	$	—	$	—	$	39,528	$	(472)
Subordinated notes		996	$	(4)	$	—	$	—	$	996	$	(4)
State and municipal obligations	$	9,831	$	(165)	$	––	$	––	$	9,831	$	(165)
Total temporarily impaired securities	$	50,355	$	(641)	$	—	$	—	$	50,355	$	(641)

	December 31, 2018
	Less than 12 Months				12 Months or More				Total
Description of	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
Securities	Value		Losses		Value		Losses		Value		Losses
	(In thousands)
US government agencies	$	—	$	—	$	44,750	$	(500)	$	44,750	$	(500)
State and municipal obligations	$	5,182	$	(36)	$	—	$	—	$	5,182	$	(36)
Total temporarily impaired securities	$	5,182	$	(36)	$	44,750	$	(500)	$	49,932	$	(536)