Investment Securities (Tables)

9 Months Ended

Sep. 30, 2019

Investment Securities

Schedule of amortized cost of investment securities to estimated fair values

	September 30, 2019
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
U.S. Treasury and agencies	$	21,607	$	29	$	(34)	$	21,602
Obligations of state and political agencies		47,227		703		(74)		47,856
Mortgage backed securities
Residential agency		165,995		3,467		(125)		169,337
Commercial		32,546		139		(33)		32,652
Asset backed securities		152		5		—		157
Corporate bonds		7,069		43		—		7,112
Total available-for-sale investment securities	$	274,596	$	4,386	$	(266)	$	278,716

	December 31, 2018
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
U.S. Treasury and agencies	$	19,364	$	—	$	(222)	$	19,142
Obligations of state and political agencies		67,662		171		(1,446)		66,387
Mortgage backed securities
Residential agency		129,906		210		(3,118)		126,998
Commercial		29,050		20		(303)		28,767
Asset backed securities		398		5		(4)		399
Corporate bonds		8,602		—		(121)		8,481
Total available-for-sale investment securities	$	254,982	$	406	$	(5,214)	$	250,174

Schedule of investment securities with gross unrealized losses

	September 30, 2019
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
U.S. Treasury and agencies	$	(3)	$	1,757	$	(31)	$	9,969	$	(34)	$	11,726
Obligations of state and political agencies		(23)		5,965		(51)		5,999		(74)		11,964
Mortgage backed securities
Residential agency		(44)		10,020		(81)		17,138		(125)		27,158
Commercial		(18)		9,215		(15)		3,126		(33)		12,341
Asset backed securities		—		2		—		—		—		2
Corporate bonds		—		—		—		—		—		—
Total available-for-sale investment securities	$	(88)	$	26,959	$	(178)	$	36,232	$	(266)	$	63,191

	December 31, 2018
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
U.S. Treasury and agencies	$	(8)	$	5,288	$	(214)	$	11,598	$	(222)	$	16,886
Obligations of state and political agencies		—		389		(1,446)		55,770		(1,446)		56,159
Mortgage backed securities
Residential agency		(44)		7,352		(3,074)		112,293		(3,118)		119,645
Commercial		(39)		7,844		(264)		9,741		(303)		17,585
Asset backed securities		—		2		(4)		155		(4)		157
Corporate bonds		—		—		(121)		8,481		(121)		8,481
Total available-for-sale investment securities	$	(91)	$	20,875	$	(5,123)	$	198,038	$	(5,214)	$	218,913

Schedule of contractual maturity of amortized cost and estimated fair value

	Amortized		Fair
(dollars in thousands)	Cost		Value
Due within one year or less	$	3,016	$	3,026
Due after one year through five years		35,948		35,989
Due after five years through ten years		78,983		80,405
Due after 10 years		156,649		159,296
Total available-for-sale investment securities	$	274,596	$	278,716

Schedule of proceeds from the sale of available for sale securities

	Three months ended				Nine months ended
	September 30,				September 30,
(dollars in thousands)	2019		2018		2019		2018
Proceeds	$	10,934	$	2,021	$	32,565	$	2,466
Realized gains		59		—		357		105
Realized losses		11		—		22		5

Schedule of federal home loan bank

	September 30,		December 31,
(dollars in thousands)	2019		2018
Federal Reserve	$	2,675	$	2,675
FHLB		3,121		6,875