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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available For Sale, Held-to-Maturity, and Restricted Equity Securities

The following tables summarize the amortized cost and estimated fair value of investment securities at December 31, 2019 and 2018:
 
Amortized
 
Unrealized
 
Unrealized
 
Fair Value
As of December 31, 2019
Cost
 
Gains
 
Losses
 
(Estimated)
Securities available for sale
 
 
 
 
 
 
 
U.S. government-sponsored agencies
$
7,500,000

 
$
—

 
$
(102,000
)
 
$
7,398,000

Mortgage-backed securities
323,277,000
 
4,173,000
 
(833,000)
 
326,617,000
State and political subdivisions
25,113,000

 
1,392,000

 
—

 
26,505,000

 
$
355,890,000

 
$
5,565,000

 
$
(935,000
)
 
$
360,520,000

Securities to be held to maturity
 
 
 
 
 
 
 
U.S. Government-sponsored agencies
$
32,840,000

 
$
47,000

 
$
(26,000
)
 
$
32,861,000

Mortgage-backed securities
14,431,000

 
450,000

 
(16,000
)
 
14,865,000

State and political subdivisions
219,585,000

 
4,936,000

 
(109,000
)
 
224,412,000

Corporate securities
14,750,000

 
157,000

 
—

 
14,907,000

 
$
281,606,000

 
$
5,590,000

 
$
(151,000
)
 
$
287,045,000

Restricted equity securities
 
 
 
 
 
 
 
Federal Home Loan Bank Stock
$
7,945,000

 
$
—

 
$
—

 
$
7,945,000

Federal Reserve Bank Stock
1,037,000

 
—

 
—

 
1,037,000

 
$
8,982,000

 
$
—

 
$
—

 
$
8,982,000


 
Amortized
 
Unrealized
 
Unrealized
 
Fair Value
As of December 31, 2018
Cost
 
Gains
 
Losses
 
(Estimated)
Securities available for sale
 
 
 
 
 
 
 
U.S. government-sponsored agencies
$
5,000,000

 
$
7,000

 
$
—

 
$
5,007,000

Mortgage-backed securities
313,854,000
 
571,000
 
(6,732,000
)
 
307,693,000
State and political subdivisions
4,955,000

 
—

 
(239,000
)
 
4,716,000

 
$
323,809,000

 
$
578,000

 
$
(6,971,000
)
 
$
317,416,000

Securities to be held to maturity
 
 
 
 
 
 
 
U.S. Government-sponsored agencies
$
11,155,000

 
$
—

 
$
(472,000
)
 
$
10,683,000

Mortgage-backed securities
18,250,000

 
336,000

 
(255,000
)
 
18,331,000

State and political subdivisions
221,958,000

 
1,046,000

 
(5,418,000
)
 
217,586,000

Corporate securities
4,300,000

 
—

 
—

 
4,300,000

 
$
255,663,000

 
$
1,382,000

 
$
(6,145,000
)
 
$
250,900,000

Restricted equity securities
 
 
 
 
 
 
 
Federal Home Loan Bank Stock
$
10,549,000

 
$
—

 
$
—

 
$
10,549,000

Federal Reserve Bank Stock
1,037,000

 
—

 
—

 
1,037,000

 
$
11,586,000

 
$
—

 
$
—

 
$
11,586,000
Contractual Maturities of Investment Securities
The following table summarizes the contractual maturities of investment securities at December 31, 2019:

 
Securities available for sale
 
Securities to be held to maturity
 
Amortized Cost
 
Fair Value (Estimated)
 
Amortized Cost
 
Fair Value (Estimated)
Due in 1 year or less
$
127,000

 
$
127,000

 
$
1,334,000

 
$
1,338,000

Due in 1 to 5 years
36,534,000

 
36,778,000

 
25,860,000

 
26,323,000

Due in 5 to 10 years
93,134,000

 
95,014,000

 
179,133,000

 
182,834,000

Due after 10 years
226,095,000

 
228,601,000

 
75,279,000

 
76,550,000

 
$
355,890,000

 
$
360,520,000

 
$
281,606,000

 
$
287,045,000


The following table summarizes the contractual maturities of investment securities at December 31, 2018:

 
Securities available for sale
 
Securities to be held to maturity
 
Amortized
 Cost
 
Fair Value (Estimated)
 
Amortized
 Cost
 
Fair Value (Estimated)
Due in 1 year or less
$
—

 
$
—

 
$
1,432,000

 
$
1,433,000

Due in 1 to 5 years
13,501,000

 
13,518,000

 
20,717,000

 
20,778,000

Due in 5 to 10 years
83,954,000

 
83,326,000

 
157,544,000

 
155,313,000

Due after 10 years
226,354,000

 
220,572,000

 
75,970,000

 
73,376,000

 
$
323,809,000

 
$
317,416,000

 
$
255,663,000

 
$
250,900,000
Schedule of Securities Gains and Losses
The following table shows securities gains and losses for 2019, 2018 and 2017:

 
2019
 
2018
 
2017
Proceeds from sales of securities
$
9,229,000

 
$
459,000

 
$
15,587,000

Gross realized gains
224,000

 
137,000

 
471,000

Gross realized losses
—

 
—

 
—

Net gain
$
224,000

 
$
137,000

 
$
471,000

Related income taxes
$
47,000

 
$
29,000

 
$
165,000
Schedule of Temporary Impairment Losses
Information regarding securities temporarily impaired as of December 31, 2019 is summarized below:

 
Less than 12 months
 
12 months or more
 
Total
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
As of December 31, 2019
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
U.S. Government-sponsored agencies
$
12,372,000

 
$
(128,000
)
 
$
—

 
$
—

 
$
12,372,000

 
$
(128,000
)
Mortgage-backed securities
54,244,000

 
(359,000
)
 
18,696,000

 
(490,000
)
 
72,940,000

 
(849,000
)
State and political subdivisions
10,532,000

 
(101,000
)
 
304,000

 
(8,000
)
 
10,836,000

 
(109,000
)
 
$
77,148,000

 
$
(588,000
)
 
$
19,000,000

 
$
(498,000
)
 
$
96,148,000

 
$
(1,086,000
)

As of December 31, 2018, there were 511 securities with unrealized losses held in the Company's portfolio. These securities were temporarily impaired as a result of changes in interest rates reducing their fair value, of which 232 had been temporarily impaired for 12 months or more. Information regarding securities temporarily impaired as of December 31, 2018 is summarized below:

 
Less than 12 months
 
12 months or more
 
Total
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
As of December 31, 2018
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
U.S. Government-sponsored agencies
$
—

 
$
—

 
$
10,683,000

 
$
(472,000
)
 
$
10,683,000

 
$
(472,000
)
Mortgage-backed securities
76,050,000

 
(1,061,000
)
 
185,136,000

 
(5,926,000
)
 
261,186,000

 
(6,987,000
)
State and political subdivisions
76,809,000

 
(1,784,000
)
 
45,052,000

 
(3,873,000
)
 
121,861,000

 
(5,657,000
)
 
$
152,859,000

 
$
(2,845,000
)
 
$
240,871,000

 
$
(10,271,000
)
 
$
393,730,000

 
$
(13,116,000
)