Investment Securities (Tables)

3 Months Ended

Mar. 31, 2019

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)
March 31, 2019	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Government agencies and corporations	$	9,246	$	63	$	82	$	9,227
Obligations of states and political subdivisions		53,085		237		440		52,882
U.S. Government-sponsored mortgage-backed securities		57,147		7		1,764		55,390
U.S. Government-sponsored collateralized mortgage obligations		11,660		58		128		11,590
U.S. Government-guaranteed small business administration pools		7,531		—		248		7,283
Total investment securities available-for-sale	$	138,669	$	365	$	2,662	$	136,372
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, 2018	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Government agencies and corporations	$	9,242	$	11	$	251	$	9,002
Obligations of states and political subdivisions		53,187		26		1,555		51,658
U.S. Government-sponsored mortgage-backed securities		59,070		—		2,483		56,587
U.S. Government-sponsored collateralized mortgage obligations		12,112		41		177		11,976
U.S. Government-guaranteed small business administration pools		7,978		—		278		7,700
Total investment securities available-for-sale	$	141,589	$	78	$	4,744	$	136,923
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 March 31, 2019, 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		482		488
Due after five years through ten years		12,158		12,065
Due after ten years		57,222		56,839
Total		69,862		69,392
U.S. Government-sponsored mortgage-backed and related securities		68,807		66,980
Total investment securities available-for-sale	$	138,669	$	136,372

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
	March 31,
	2019		2018
Proceeds on securities sold	$	—	$	19,841
Gross realized gains		—		123
Gross realized losses		—		103

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 March 31, 2019:  

	(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	$	—	$	—	$	3,264	$	82	$	3,264	$	82
Obligations of states and political subdivisions		—		—		27,998		440		27,998		440
U.S. Government-sponsored mortgage-backed    securities		—		—		53,774		1,764		53,774		1,764
U.S. Government-sponsored collateralized    mortgage obligations		1,844		2		5,197		126		7,041		128
U.S. Government-guaranteed small business    administration pools		—		—		7,283		248		7,283		248
Total	$	1,844	$	2	$	97,516	$	2,660	$	99,360	$	2,662

The above table comprises 92 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, 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	$	3,280	$	6	$	2,755	$	245	$	6,035	$	251
Obligations of states and political subdivisions		23,616		567		24,607		988		48,223		1,555
U.S. Government-sponsored mortgage-backed    securities		1,598		18		54,989		2,465		56,587		2,483
U.S. Government-sponsored collateralized    mortgage obligations		—		—		5,350		177		5,350		177
U.S. Government-guaranteed small business    administration pools		—		—		7,700		278		7,700		278
Total	$	28,494	$	591	$	95,401	$	4,153	$	123,895	$	4,744