Securities (Tables)

3 Months Ended

Mar. 31, 2019

Amortized Cost and Fair Value, with Gross Unrealized Gains and Losses of Securities Available-for-Sale

Amortized costs and fair values, with gross unrealized gains and losses, of securities available-for-sale as of the dates indicated are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
March 31, 2019
U.S. Treasury securities	$	22,350	$	39	$	(2	)	$	22,387
Obligations of U.S. Government agencies		13,163		7		(125	)		13,045
Obligations of state and political subdivisions		41,832		388		(78	)		42,142
Mortgage-backed securities		74,876		261		(1,314	)		73,823
Money market investments		2,636		-		-			2,636
Corporate bonds and other securities		3,742		53		(9	)		3,786
Total	$	158,599	$	748	$	(1,528	)	$	157,819

December 31, 2018
U.S. Treasury securities	$	12,323	$	6	$	(1	)	$	12,328
Obligations of U.S. Government agencies		10,868		2		(156	)		10,714
Obligations of state and political subdivisions		49,194		155		(512	)		48,837
Mortgage-backed securities		73,444		93		(2,346	)		71,191
Money market investments		1,897		-		-			1,897
Corporate bonds and other securities		3,250		42		(12	)		3,280
Total	$	150,976	$	298	$	(3,027	)	$	148,247

Net Realized Gains and (Losses) on Sale of Investments

The following table summarizes gross realized gains and losses on the sale of investment securities during the periods indicated:

	Three Months Ended
	March 31,
	2019				2018
	(in thousands)
Securities Available-for-sale
Realized gains on sales of securities		$	36			$	80
Realized losses on sales of securities			(10	)			-
Net realized gain		$	26			$	80

Available-for-Sale Securities, Continuous Unrealized Loss Position

The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired as of March 31, 2019 and December 31, 2018, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of the dates indicated:

March 31, 2019
	Less Than Twelve Months						More Than Twelve Months				Total
	Gross Unrealized Losses			Fair Value			Gross Unrealized Losses		Fair Value		Gross Unrealized Losses			Fair Value
	(dollars in thousands)
Securities Available-for-Sale
U.S. Treasury securities		$	2		$	9,998	$	-	$	-		$	2		$	9,998
Obligations of U.S. Government agencies			33			5,756		92		4,707			125			10,463
Obligations of state and political subdivisions			-			-		78		14,070			78			14,070
Mortgage-backed securities			-			-		1,314		62,822			1,314			62,822
Corporate bonds and other securities			-			-		9		392			9			392
Total securities available-for-sale		$	35		$	15,754	$	1,493	$	81,991		$	1,528		$	97,745

December 31, 2018
	Less Than Twelve Months						More Than Twelve Months						Total
	Gross Unrealized Losses			Fair Value			Gross Unrealized Losses			Fair Value			Gross Unrealized Losses			Fair Value
	(dollars in thousands)
Securities Available-for-Sale
U.S. Treasury securities		$	1		$	2,484		$	-		$	-		$	1		$	2,484
Obligations of U.S. Government agencies			47			6,014			109			3,206			156			9,220
Obligations of state and political subdivisions			10			5,829			502			23,727			512			29,556
Mortgage-backed securities			-			-			2,346			63,930			2,346			63,930
Corporate bonds and other securities			1			100			11			389			12			489
Total securities available-for-sale		$	59		$	14,427		$	2,968		$	91,252		$	3,027		$	105,679