Note 6 - Investment Securities (Tables)

3 Months Ended

Mar. 31, 2019

Investments Debt And Equity Securities [Abstract]

The amortized cost and estimated fair values of investment debt securities available-for-sale at March 31, 2019 and December 31, 2018 were as follows:

			Gross		Gross
			unrealized		unrealized
	Fair		holding		holding			Amortized
March 31, 2019	value		gains		losses			cost
U.S. Government agency	$	69,359	$	—	$	(1,123	)	$	70,482
State and municipal		53,331		367		(61	)		53,025
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed		133,039		192		(2,411	)		135,258
Collateralized mortgage obligations (CMOs)		80,467		188		(1,777	)		82,056
Pooled trust preferred		112		—		(10	)		122
Corporate debt		8,059		78		(41	)		8,022
Total investment debt securities available-for-sale	$	344,367	$	825	$	(5,423	)	$	348,965

			Gross		Gross
			unrealized		unrealized
	Fair		holding		holding			Amortized
December 31, 2018	value		gains		losses			cost
U.S. Government agency	$	68,409	$	—	$	(2,072	)	$	70,481
State and municipal		66,313		195		(464	)		66,582
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed		125,913		79		(4,251	)		130,085
Collateralized mortgage obligations (CMOs)		75,491		87		(2,549	)		77,953
Pooled trust preferred		116		—		(6	)		122
Corporate debt		7,979		33		(80	)		8,026
Total investment debt securities available-for-sale	$	344,221	$	394	$	(9,422	)	$	353,249

Investment Securities by Contractual Maturity

The amortized cost and estimated fair value of debt securities available-for-sale by contractual maturity at March 31, 2019 are shown in the following table.

			Amortized
March 31, 2019	Fair value		cost
Due in one year or less	$	4,452	$	4,438
Due after one year through five years		267,012		271,292
Due after five years through ten years		52,600		53,007
Due after ten years		20,303		20,228
Total investment debt securities available-for-sale	$	344,367	$	348,965

Realized Gain (Loss) on Investments

The following table presents information related to the Company’s gains and losses on the sales of debt securities, and losses recognized for the other-than-temporary impairment (“OTTI”) of these investments.

	Three months ended March 31
	2019			2018
Gross realized gains	$	20		$	21
Gross realized losses		(59	)		(22	)
Other-than-temporary impairment		—			—
Total net losses on AFS debt securities	$	(39	)	$	(1	)

Debt Securities in a Continuous Unrealized Loss Position

The following table indicates the length of time individual debt securities have been in a continuous unrealized loss position at March 31, 2019 and December 31, 2018:


			Less than 12 months					12 months or longer					Total
	No. of		Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
March 31, 2019	securities		value		losses			value		losses			value		losses
U.S. Government agency		51	$	—	$	—		$	69,359	$	(1,123	)	$	69,359	$	(1,123	)
State and municipal		21		569		(1	)		7,493		(60	)		8,062		(61	)
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed		102		3,573		(4	)		109,299		(2,407	)		112,872		(2,411	)
Collateralized mortgage obligations (CMOs)		72		173		—			60,832		(1,777	)		61,005		(1,777	)
Pooled trust preferred		1		—		—			112		(10	)		112		(10	)
Corporate debt		5		120		—			3,982		(41	)		4,102		(41	)
Total		252	$	4,435	$	(5	)	$	251,077	$	(5,418	)	$	255,512	$	(5,423	)


			Less than 12 months					12 months or longer					Total
	No. of		Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
December 31, 2018	securities		value		losses			value		losses			value		losses
U.S. Government agency		51	$	—	$	—		$	68,409	$	(2,072	)	$	68,409	$	(2,072	)
State and municipal		81		21,657		(204	)		10,558		(260	)		32,215		(464	)
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed		111		12,561		(91	)		108,802		(4,160	)		121,363		(4,251	)
Collateralized mortgage obligations (CMOs)		73		433		(1	)		62,467		(2,548	)		62,900		(2,549	)
Pooled trust preferred		1		—		—			116		(6	)		116		(6	)
Corporate debt		4		—		—			3,947		(80	)		3,947		(80	)
Total		321	$	34,651	$	(296	)	$	254,299	$	(9,126	)	$	288,950	$	(9,422	)

Summary of Unrealized and Realized Gains and Losses Recognized in Net Income on Equity Securities

The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the first quarters of 2019 and 2018:

	Three months ended March 31

	2019		2018
Net gains (losses) recognized during the period on equity securities	$	1,021	$	(160	)
Less: Net gains recognized during the period on equity securities sold during the period		45		86
Net unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date	$	976	$	(246	)