Investment Securities (Tables)

9 Months Ended

Sep. 30, 2018

Investments Debt And Equity Securities [Abstract]

Summary of Investment Securities Available-for-Sale and Regulatory Stock

The following table is a summary of investment securities available-for-sale and regulatory stock:

	(Amounts in thousands)
September 30, 2018	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Government agencies and corporations	$	9,238	$	—	$	416	$	8,822
Obligations of states and political subdivisions		53,351		12		2,411		50,952
U.S. Government-sponsored mortgage-backed securities		61,145		—		3,123		58,022
U.S. Government-sponsored collateralized mortgage obligations		12,575		—		321		12,254
U.S. Government-guaranteed small business administration pools		8,221		—		426		7,795
Total investment securities available-for-sale	$	144,530	$	12	$	6,697	$	137,845
Federal Home Loan Bank (FHLB) stock		2,355		—		—		2,355
Federal Reserve Bank (FRB) stock		226		—		—		226
Total regulatory stock	$	2,581	$	—	$	—	$	2,581

	(Amounts in thousands)
December 31, 2017	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Government agencies and corporations	$	3,344	$	1	$	140	$	3,205
Obligations of states and political subdivisions		71,700		740		324		72,116
U.S. Government-sponsored mortgage-backed securities		69,066		6		1,404		67,668
U.S. Government-sponsored collateralized mortgage obligations		6,463		—		161		6,302
U.S. Government-guaranteed small business administration pools		9,911		—		256		9,655
Trust preferred securities		1,618		—		723		895
Total investment securities available-for-sale	$	162,102	$	747	$	3,008	$	159,841
Federal Home Loan Bank (FHLB) stock		2,355		—		—		2,355
Federal Reserve Bank (FRB) stock		226		—		—		226
Total regulatory stock	$	2,581	$	—	$	—	$	2,581

Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

The amortized cost and fair value of debt securities at September 30, 2018, by contractual maturity, are shown below. Actual maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. 

	(Amounts in thousands)
	Amortized Cost		Fair Value
Due in one year or less	$	—	$	—
Due after one year through five years		543		551
Due after five years through ten years		12,036		11,466
Due after ten years		58,231		55,552
Total		70,810		67,569
U.S. Government-sponsored mortgage-backed and related securities		73,720		70,276
Total investment securities available-for-sale	$	144,530	$	137,845

Proceeds and Gains or Losses Realized on Available for Sale Securities Sold or Called

The table below sets forth the proceeds and gains or losses realized on available for sale securities sold or called for the periods presented:

	(Amounts in thousands)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Proceeds on securities sold	$	—	$	10,721	$	21,418	$	38,848
Gross realized gains		—		87		123		465
Gross realized losses		—		94		144		441

Fair Value of Securities with Unrealized Losses and an Aging of those Unrealized Losses

The following is a summary of the fair value of available-for-sale securities with unrealized losses and an aging of those unrealized losses at September 30, 2018:  

	(Amounts in thousands)
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Government agencies and corporations	$	6,099	$	139	$	2,723	$	277	$	8,822	$	416
Obligations of states and political subdivisions		30,550		1,202		20,193		1,209		50,743		2,411
U.S. Government-sponsored mortgage-backed    securities		12,683		507		43,717		2,616		56,400		3,123
U.S. Government-sponsored collateralized    mortgage obligations		6,786		59		5,468		262		12,254		321
U.S. Government-guaranteed small business    administration pools		—		—		7,795		426		7,795		426
Total	$	56,118	$	1,907	$	79,896	$	4,790	$	136,014	$	6,697

The above table comprises 128 investment securities where the fair value is less than the related amortized cost.

The following is a summary of the fair value of available-for-sale securities with unrealized losses and an aging of those unrealized losses at December 31, 2017:

	(Amounts in thousands)
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Government agencies and corporations	$	—	$	—	$	2,860	$	140	$	2,860	$	140
Obligations of states and political subdivisions		7,430		24		18,066		300		25,496		324
U.S. Government-sponsored mortgage-backed    securities		24,888		241		40,968		1,163		65,856		1,404
U.S. Government-sponsored collateralized    mortgage obligations		—		—		6,302		161		6,302		161
U.S. Government-guaranteed small business    administration pools		2,532		38		7,123		218		9,655		256
Trust preferred securities		—		—		895		723		895		723
Total	$	34,850	$	303	$	76,214	$	2,705	$	111,064	$	3,008

Other than Temporary Impairment Credit Losses Recognized in Earnings

The following provides a cumulative rollforward of credit losses recognized in earnings for trust preferred securities held.

	(Amounts in thousands)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018			2017
Beginning balance	$	—	$	140	$	140		$	140
Reduction for debt securities for which other-than-temporary    impairment has been previously recognized and there is no    related other comprehensive income		—		—		—			—
Credit losses on debt securities for which other-than-temporary    impairment has not been previously recognized		—		—		—			—
Additional credit losses on debt securities for which other-than-    temporary impairment was previously recognized		—		—		—			—
Sale of debt securities		—		—		(140	)		—
Ending balance	$	—	$	140	$	—		$	140