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Securities (Tables)
 3 Months Ended
Mar. 31, 2019
Marketable Securities [Abstract]  
Reconciliation from Amortized Cost to Estimated Fair Value of Marketable Securities
This table provides the major components of debt securities available for sale ("AFS") and held to maturity ("HTM") at amortized cost and estimated fair value at March 31, 2019 and December 31, 2018:
 
 
March 31, 2019
 
December 31, 2018
(In thousands)
 
Amortized cost
 
Gross unrealized gains
 
Gross unrealized losses
 
Estimated fair value
 
Amortized cost
 
Gross unrealized gains
 
Gross unrealized losses
 
Estimated fair value
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
$
5,756

 
$
—

 
$
(78
)
 
$
5,678

 
$
5,758

 
$
—

 
$
(116
)
 
$
5,642

State and political subdivisions
 
4,547

 
20

 
(65
)
 
4,502

 
4,614

 
4

 
(120
)
 
4,498

Residential mortgage-backed securities
 
26,237

 
81

 
(467
)
 
25,851

 
27,159

 
74

 
(620
)
 
26,613

Corporate and other securities
 
10,230

 
30

 
(357
)
 
9,903

 
10,231

 
123

 
(394
)
 
9,960

Total debt securities available for sale
 
$
46,770

 
$
131

 
$
(967
)
 
$
45,934

 
$
47,762

 
$
201

 
$
(1,250
)
 
$
46,713

Held to maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
$
2,527

 
$
—

 
$
(82
)
 
$
2,445

 
$
2,527

 
$
—

 
$
(94
)
 
$
2,433

State and political subdivisions
 
951

 
115

 
—

 
1,066

 
951

 
110

 
—

 
1,061

Residential mortgage-backed securities
 
3,249

 
21

 
(34
)
 
3,236

 
3,312

 
17

 
(52
)
 
3,277

Commercial mortgage-backed securities
 
3,540

 
—

 
(107
)
 
3,433

 
3,570

 
—

 
(138
)
 
3,432

Corporate and other securities
 
4,513

 
75

 
(1
)
 
4,587

 
4,515

 
84

 
—

 
4,599

Total securities held to maturity
 
$
14,780

 
$
211

 
$
(224
)
 
$
14,767

 
$
14,875

 
$
211

 
$
(284
)
 
$
14,802

Equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity securities
 
$
2,398

 
$
35

 
$
(185
)
 
$
2,248

 
$
2,394

 
$
—

 
$
(250
)
 
$
2,144
Schedule of Marketable Securities by Contractual Maturity
This table provides the remaining contractual maturities and yields of securities within the investment portfolios.  The carrying value of securities at March 31, 2019 is distributed by contractual maturity.  Mortgage-backed securities and other securities, which may have principal prepayment provisions, are distributed based on contractual maturity.  Expected maturities will differ materially from contractual maturities as a result of early prepayments and calls.
 
 
Within one year
 
After one through five years
 
After five through ten years
 
After ten years
 
Total carrying value
(In thousands, except percentages)
 
Amount
 
Yield
 
Amount
 
Yield
 
Amount
 
Yield
 
Amount
 
Yield
 
Amount
 
Yield
Available for sale at fair value:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities  
 
$
—

 
—
%
 
$
3,693

 
1.61
%
 
$
1,985

 
2.17
%
 
$
—

 
—
%
 
$
5,678

 
1.81
%
State and political subdivisions    
 
2,340

 
2.91
 
—

 
—

 
874

 
2.50

 
1,288

 
2.74

 
4,502

 
2.78

Residential mortgage-backed securities    
 
68

 
2.94
 
8,750

 
2.69

 
14,851

 
2.95

 
2,182

 
2.79

 
25,851

 
2.85

Corporate and other securities
 
—

 
—
 
6,234

 
4.34

 
3,669

 
4.00

 
—

 
—

 
9,903

 
4.21

Total debt securities available for sale
 
$
2,408

 
2.91
%
 
$
18,677

 
3.03
%
 
$
21,379

 
3.04
%
 
$
3,470

 
2.77
%
 
$
45,934

 
3.01
%
Held to maturity at cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities  
 
$
—

 
—
%
 
$
1,002

 
2.03
%
 
$
1,525

 
1.94
%
 
$
—

 
—
%
 
$
2,527

 
1.98
%
State and political subdivisions    
 
—

 
—

 
494

 
5.06

 
—

 
—

 
457

 
5.84

 
951

 
5.43

Residential mortgage-backed securities    
 
—

 
—

 
460

 
3.32

 
924

 
3.15

 
1,865

 
3.82

 
3,249

 
3.56

Commercial mortgage-backed securities    
 
—

 
—

 
—

 
—

 
3,540

 
2.76

 
—

 
—

 
3,540

 
2.76

Corporate and other securities
 
—

 
—

 
4,513

 
5.73

 
—

 
—

 
—

 
—

 
4,513

 
5.73

Total securities held to maturity
 
$
—

 
—
%
 
$
6,469

 
4.93
%
 
$
5,989

 
2.61
%
 
$
2,322

 
4.22
%
 
$
14,780

 
3.88
%
Equity Securities at fair value:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity securities
 
$
—

 
—
%
 
$
—

 
—
%
 
$
—

 
—
%
 
$
2,248

 
2.17
%
 
$
2,248

 
2.17
%
Schedule of Marketable Securities in Unrealized Loss Position
The fair value of securities with unrealized losses by length of time that the individual securities have been in a continuous unrealized loss position at March 31, 2019 and December 31, 2018 are as follows:
 
 
March 31, 2019
 
 
 
 
Less than 12 months
 
12 months and greater
 
Total
(In thousands, except number in a loss position)
 
Total number in a loss position
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
5

 
$
—

 
$
—

 
$
5,678

 
$
(78
)
 
$
5,678

 
$
(78
)
State and political subdivisions
 
2

 
—

 
—

 
1,765

 
(65
)
 
1,765

 
(65
)
Residential mortgage-backed securities
 
28

 
1,691

 
(2
)
 
22,241

 
(465
)
 
23,932

 
(467
)
Corporate and other securities
 
5

 
—

 
—

 
6,792

 
(357
)
 
6,792

 
(357
)
Total temporarily impaired securities
 
40

 
$
1,691

 
$
(2
)
 
$
36,476

 
$
(965
)
 
$
38,167

 
$
(967
)
Held to maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
2

 
$
—

 
$
—

 
$
2,445

 
$
(82
)
 
$
2,445

 
$
(82
)
Residential mortgage-backed securities
 
5

 
—

 
—

 
2,070

 
(34
)
 
2,070

 
(34
)
Commercial mortgage-backed securities
 
2

 
—

 
—

 
3,433

 
(107
)
 
3,433

 
(107
)
Corporate and other securities
 
1

 
1,512

 
(1
)
 
—

 
—

 
1,512

 
(1
)
Total temporarily impaired securities
 
10

 
$
1,512

 
$
(1
)
 
$
7,948

 
$
(223
)
 
$
9,460

 
$
(224
)

 
 
December 31, 2018
 
 
 
 
Less than 12 months
 
12 months and greater
 
Total
(In thousands, except number in a loss position)
 
Total number in a loss position
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
5

 
$
—

 
$
—

 
$
5,642

 
$
(116
)
 
$
5,642

 
$
(116
)
State and political subdivisions
 
4

 
—

 
—

 
3,129

 
(120
)
 
3,129

 
(120
)
Residential mortgage-backed securities
 
31

 
4,445

 
(23
)
 
20,480

 
(597
)
 
24,925

 
(620
)
Corporate and other securities
 
5

 
971

 
(30
)
 
5,787

 
(364
)
 
6,758

 
(394
)
Total temporarily impaired securities
 
45

 
$
5,416

 
$
(53
)
 
$
35,038

 
$
(1,197
)
 
$
40,454

 
$
(1,250
)
Held to maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
2

 
$
—

 
$
—

 
$
2,434

 
$
(94
)
 
$
2,434

 
$
(94
)
Residential mortgage-backed securities
 
5

 
1,277

 
(15
)
 
821

 
(37
)
 
2,098

 
(52
)
Commercial mortgage-backed securities
 
2

 
—

 
—

 
3,432

 
(138
)
 
3,432

 
(138
)
Total temporarily impaired securities
 
9

 
$
1,277

 
$
(15
)
 
$
6,687

 
$
(269
)
 
$
7,964

 
$
(284
)
Equity Securities, Gains and Losses
The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three months ended March 31, 2019 and 2018:
 
 
For the three months ended March 31,
(In thousands)
 
2019
 
2018
Net gains (losses) recognized during the period on equity securities
 
$
100

 
$
(15
)
Less: Net gains (losses) recognized during the period on equity securities sold during the period
 
—

 
—

Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date
 
$
100

 
$
(15
)