Annual report pursuant to Section 13 and 15(d)

Note 2 - Debt Securities (Tables)

v3.19.3.a.u2
Note 2 - Debt Securities (Tables)
12 Months Ended
Dec. 31, 2019
Notes Tables  
Unrealized Gain (Loss) on Investments [Table Text Block]
           

Gross

   

Gross

         
   

Amortized

   

Unrealized

   

Unrealized

   

Market

 
   

Cost

   

Gain

   

Loss

   

Value

 

December 31, 2019

 

(In Thousands)

 

Securities Available for Sale

                               

U.S. Treasury Securities

  $ 48,923     $ 291     $ (4 )   $ 49,210  

Government Agency Securities

    18,245       143       (2 )     18,386  

Mortgage-backed securities

    470,513       4,859       (1,318 )     474,054  

State and municipal securities

    56,951       335       (14 )     57,272  

Corporate debt

    157,549       3,098       (170 )     160,477  

Total

  $ 752,181     $ 8,726     $ (1,508 )   $ 759,399  

Debt Securities Held to Maturity

                               

State and municipal securities

    250       -       -       250  

Total

  $ 250     $ -     $ -     $ 250  
                                 

December 31, 2018

                               

Securities Available for Sale

                               

U.S Treasury Securities

  $ 58,750     $ 75     $ (397 )   $ 58,428  

Government Agency Securities

    18,784       3       (222 )     18,565  

Mortgage-backed securities

    309,244       591       (5,531 )     304,304  

State and municipal securities

    106,465       208       (679 )     105,994  

Corporate debt

    102,982       668       (757 )     102,893  

Total

  $ 596,225     $ 1,545     $ (7,586 )   $ 590,184  

Securities Held to Maturity

                               

State and municipal securities

    -       -       -       -  

Total

  $ -     $ -     $ -     $ -  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]
   

December 31, 2019

   

December 31, 2018

 
   

Amortized Cost

   

Market Value

   

Amortized Cost

   

Market Value

 
   

(In Thousands)

 

Debt securities available for sale

                               

Due within one year

  $ 58,722     $ 58,975     $ 38,343     $ 38,225  

Due from one to five years

    90,034       91,005       167,873       166,380  

Due from five to ten years

    129,501       131,914       77,811       78,276  

Due after ten years

    3,411       3,451       2,954       2,999  

Mortgage-backed securities

    470,513       474,054       309,244       304,304  
    $ 752,181     $ 759,399     $ 596,225     $ 590,184  
                                 

Debt securities held to maturity

                               

Due from one to five years

  $ 250     $ 250     $ -     $ -  
    $ 250     $ 250     $ -     $ -  
Gain (Loss) on Securities [Table Text Block]
   

Less Than Twelve Months

   

Twelve Months or More

   

Total

 
   

Gross

           

Gross

           

Gross

         
   

Unrealized

           

Unrealized

           

Unrealized

         
   

Losses

   

Fair Value

   

Losses

   

Fair Value

   

Losses

   

Fair Value

 
   

(In Thousands)

 

December 31, 2019

                                               

U.S. Treasury Securities

  $ (4 )   $ 3,012     $ -     $ -     $ (4 )   $ 3,012  

Government Agency Securities

    (2 )     266       -       -       (2 )     266  

Mortgage-backed securities

    (1,206 )     153,330       (112 )     24,911       (1,318 )     178,241  

State and municipal securities

    (4 )     1,900       (10 )     2,647       (14 )     4,547  

Corporate debt

    (170 )     19,981       -       -       (170 )     19,981  

Total

  $ (1,386 )   $ 178,489     $ (122 )   $ 27,558     $ (1,508 )   $ 206,047  
                                                 

December 31, 2018

                                               

U.S. Treasury Securities

  $ (8 )   $ 1,001     $ (388 )   $ 32,449     $ (397 )   $ 34,206  

Government Agency Securities

    -       -       (223 )     18,429       (222 )     17,673  

Mortgage-backed securities

    (539 )     67,721       (4,992 )     204,260       (5,531 )     271,981  

State and municipal securities

    (101 )     20,821       (578 )     52,190       (679 )     73,011  

Corporate debt

    (315 )     36,245       (442 )     13,474       (757 )     49,718  

Total

  $ (963 )   $ 125,788     $ (6,623 )   $ 320,802     $ (7,586 )   $ 446,590  
Schedule of Realized Gain (Loss) [Table Text Block]
   

Years Ended December 31,

 
   

2019

   

2018

   

2017

 
   

(In Thousands)

 

Sale proceeds

  $ 38,453     $ 5,736     $ 3,500  

Gross realized gains

  $ 27     $ 15     $ -  

Gross realized losses

    -       -       -  

Net realized gain (loss)

  $ 27     $ 15     $ -