Closing Price ($) | Shares Out (MM) | Market Cap ($MM) |
$31.68 | 2 | $59 |
10-Q | 2018-12-31 | Quarter: 2018-12-31 |
10-Q | 2018-09-30 | Quarter: 2018-09-30 |
10-K | 2018-06-30 | Annual: 2018-06-30 |
10-Q | 2018-03-31 | Quarter: 2018-03-31 |
10-Q | 2017-12-31 | Quarter: 2017-12-31 |
10-Q | 2017-09-30 | Quarter: 2017-09-30 |
10-K | 2017-06-30 | Annual: 2017-06-30 |
10-Q | 2017-03-31 | Quarter: 2017-03-31 |
10-Q | 2016-12-31 | Quarter: 2016-12-31 |
10-Q | 2016-09-30 | Quarter: 2016-09-30 |
10-K | 2016-06-30 | Annual: 2016-06-30 |
10-Q | 2016-03-31 | Quarter: 2016-03-31 |
10-Q | 2015-12-31 | Quarter: 2015-12-31 |
8-K | 2019-01-24 | Exhibits |
8-K | 2019-01-24 | Exhibits |
8-K | 2019-01-09 | Regulation FD, Exhibits |
8-K | 2018-12-12 | Exhibits |
8-K | 2018-11-14 | Shareholder Vote |
8-K | 2018-10-25 | Earnings, Exhibits |
8-K | 2018-10-10 | Regulation FD, Exhibits |
8-K | 2018-07-31 | Earnings, Exhibits |
8-K | 2018-07-09 | Regulation FD, Exhibits |
8-K | 2018-04-26 | Earnings, Exhibits |
8-K | 2018-04-11 | Regulation FD, Exhibits |
8-K | 2018-01-30 | Earnings, Exhibits |
8-K | 2018-01-10 | Regulation FD, Exhibits |
AX | Axos Financial |
KRNY | Kearny Financial |
BNCL | Beneficial Bancorp |
CASH | Meta Financial Group |
NRIM | Northrim Bancorp |
RVSB | Riverview Bancorp |
FCCY | 1st Constitution Bancorp |
CZWI | Citizens Community Bancorp |
PBBI | PB Bancorp |
CFBK | Central Federal |
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations |
Item 3. Quantitative and Qualitative Disclosures About Market Risk |
Item 4. Controls and Procedures |
Part II |
Item 1. Legal Proceedings |
Item 1A. Risk Factors |
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |
Item 3. Defaults Upon Senior Securities |
Item 4. Mine Safety Disclosures |
Item 5. Other Information |
Item 6. Exhibits |
EX-31.1 | exh311.htm |
EX-31.2 | exh312.htm |
EX-32.0 | exh320.htm |
Balance Sheet | Income Statement | Cash Flow |
---|---|---|
UNITED STATES | |
SECURITIES AND EXCHANGE COMMISSION | |
Washington, DC 20549 | |
FORM 10-Q | |
(Mark One) | |
[X] | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended: | December 31, 2018 |
or | |
[ ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from | to |
Commission file number: | 001-35019 |
HOME FEDERAL BANCORP, INC. OF LOUISIANA |
(Exact name of registrant as specified in its charter) |
Louisiana | 02-0815311 | |
(State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |
624 Market Street, Shreveport, Louisiana | 71101 | |
(Address of principal executive offices) | (Zip Code) |
(318) 222-1145 |
(Registrant's telephone number, including area code) |
N/A |
(Former name, former address and former fiscal year, if changed since last report) |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. | |
[X] Yes [ ] No | |
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). | |
[X] Yes [ ] No |
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. |
Large accelerated filer | [ ] | Accelerated filer | [ ] | ||
Non-accelerated filer | [X] | Smaller reporting company | [X] | ||
| Emerging growth company | [ ] |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). |
[ ] Yes [X] No |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ] |
Shares of common stock, par value $.01 per share, outstanding as of February 8, 2019: The registrant had 1,853,035 shares of common stock outstanding. |
Page | ||
PART I | FINANCIAL INFORMATION | |
Item 1: | Financial Statements (Unaudited) | |
Consolidated Statements of Financial Condition | 1 | |
Consolidated Statements of Income | 2 | |
Consolidated Statements of Comprehensive Income | 3 | |
Consolidated Statements of Changes in Stockholders' Equity | 4 | |
Consolidated Statements of Cash Flows | 5 | |
Notes to Consolidated Financial Statements | 7 | |
Item 2: | Management's Discussion and Analysis of Financial Condition and Results of Operations | 29 |
Item 3: | Quantitative and Qualitative Disclosures About Market Risk | 36 |
Item 4: | Controls and Procedures | 37 |
PART II | OTHER INFORMATION | |
Item 1: | Legal Proceedings | 37 |
Item 1A: | Risk Factors | 37 |
Item 2: | Unregistered Sales of Equity Securities and Use of Proceeds | 37 |
Item 3: | Defaults Upon Senior Securities | 38 |
Item 4: | Mine Safety Disclosures | 38 |
Item 5: | Other Information | 38 |
Item 6: | Exhibits | 38 |
SIGNATURES |
HOME FEDERAL BANCORP, INC. OF LOUISIANA |
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) |
December 31, 2018 | June 30, 2018 | |||||||
(In Thousands) | ||||||||
ASSETS | ||||||||
Cash and Cash Equivalents (Includes Interest-Bearing Deposits with Other Banks of $7,817 and $11,974 for December 31, 2018 and June 30, 2018, Respectively) | $ | 10,874 | $ | 15,867 | ||||
Securities Available-for-Sale | 38,638 | 29,324 | ||||||
Securities Held-to-Maturity (Fair Value of $25,751 and $27,818, Respectively) | 26,510 | 28,888 | ||||||
Loans Held-for-Sale | 3,858 | 6,762 | ||||||
Loans Receivable, Net of Allowance for Loan Losses of $3,479 and $3,425, Respectively | 322,072 | 317,493 | ||||||
Accrued Interest Receivable | 1,164 | 1,146 | ||||||
Premises and Equipment, Net | 13,160 | 12,243 | ||||||
Bank Owned Life Insurance | 6,878 | 6,808 | ||||||
Deferred Tax Asset | 1,081 | 1,102 | ||||||
Foreclosed Assets | 747 | 1,177 | ||||||
Other Assets | 587 | 840 | ||||||
Total Assets | $ | 425,569 | $ | 421,650 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
LIABILITIES | ||||||||
Deposits | $ | 373,407 | $ | 360,260 | ||||
Advances from Borrowers for Taxes and Insurance | 328 | 725 | ||||||
Short-term Federal Home Loan Bank advances | 288 | 5,282 | ||||||
Long-term Federal Home Loan Bank advances | 1,209 | 6,355 | ||||||
Other Borrowings | 450 | 300 | ||||||
Other Accrued Expenses and Liabilities | 1,249 | 1,691 | ||||||
Total Liabilities | 376,931 | 374,613 | ||||||
STOCKHOLDERS’ EQUITY | ||||||||
Preferred Stock – $.01 Par Value; 10,000,000 Shares Authorized; None Issued and Outstanding | -- | -- | ||||||
Common Stock – $.01 Par Value; 40,000,000 Shares Authorized; 1,881,735 and 1,894,081 Shares Issued and Outstanding at December 31, 2018 and June 30, 2018, Respectively | 23 | 23 | ||||||
Additional Paid-in Capital | 35,586 | 35,057 | ||||||
Unearned ESOP Stock | (1,042 | ) | (1,100 | ) | ||||
Unearned RRP Trust Stock | 2 | (22 | ) | |||||
Retained Earnings | 14,952 | 14,125 | ||||||
Accumulated Other Comprehensive Income | (883 | ) | (1,046 | ) | ||||
Total Stockholders’ Equity | 48,638 | 47,037 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 425,569 | $ | 421,650 |
For the Three Months Ended December 31, | For the Six Months Ended December 31, | |||||||||||||||
2018 | 2017 | 2018 | 2017 | |||||||||||||
(In Thousands, Except per Share Data) | ||||||||||||||||
INTEREST INCOME | ||||||||||||||||
Loans, Including Fees | $ | 4,569 | $ | 4,280 | $ | 9,063 | $ | 8,564 | ||||||||
Investment Securities | 15 | 12 | 29 | 23 | ||||||||||||
Mortgage-Backed Securities | 318 | 268 | 616 | 528 | ||||||||||||
Other Interest-Earning Assets | 94 | 27 | 174 | 65 | ||||||||||||
Total Interest Income | 4,996 | 4,587 | 9,882 | 9,180 | ||||||||||||
INTEREST EXPENSE | ||||||||||||||||
Deposits | 1,030 | 738 | 1,959 | 1,445 | ||||||||||||
Other Borrowings | 3 | 1 | 4 | 1 | ||||||||||||
Federal Home Loan Bank Borrowings | 42 | 117 | 110 | 261 | ||||||||||||
Total Interest Expense | 1,075 | 856 | 2,073 | 1,707 | ||||||||||||
Net Interest Income | 3,921 | 3,731 | 7,809 | 7,473 | ||||||||||||
PROVISION FOR LOAN LOSSES | 100 | 200 | 350 | 500 | ||||||||||||
Net Interest Income after Provision for Loan Losses | 3,821 | 3,531 | 7,459 | 6,973 | ||||||||||||
NON-INTEREST INCOME | ||||||||||||||||
Gain on Sale of Loans | 374 | 430 | 766 | 1,035 | ||||||||||||
Loss on Sale of Real Estate and Fixed Assets | (230 | ) | (1 | ) | (228 | ) | (1 | ) | ||||||||
Gain on Sale of Securities | -- | -- | -- | 95 | ||||||||||||
Income on Bank Owned Life Insurance | 35 | 35 | 70 | 71 | ||||||||||||
Service Charges on Deposit Accounts | 238 | 221 | 465 | 437 | ||||||||||||
Other Income | 22 | 12 | 35 | 28 | ||||||||||||
Total Non-Interest Income | 439 | 697 | 1,108 | 1,665 | ||||||||||||
NON-INTEREST EXPENSE | ||||||||||||||||
Compensation and Benefits | 1,547 | 1,581 | 3,163 | 3,296 | ||||||||||||
Occupancy and Equipment | 329 | 361 | 649 | 671 | ||||||||||||
Data Processing | 147 | 165 | 297 | 332 | ||||||||||||
Audit and Examination Fees | 73 | 77 | 127 | 126 | ||||||||||||
Franchise and Bank Shares Tax | 97 | 103 | 197 | 201 | ||||||||||||
Advertising | 84 | 30 | 142 | 70 | ||||||||||||
Legal Fees | 158 | 143 | 297 | 289 | ||||||||||||
Loan and Collection | 64 | 73 | 126 | 153 | ||||||||||||
Deposit Insurance Premium | 22 | 40 | 52 | 68 | ||||||||||||
Valuation Adjustment Real Estate Owned | -- | -- | 75 | -- | ||||||||||||
Other Expense | 201 | 182 | 372 | 380 | ||||||||||||
Total Non-Interest Expense | 2,722 | 2,755 | 5,497 | 5,586 | ||||||||||||
Income Before Income Taxes | 1,538 | 1,473 | 3,070 | 3,052 | ||||||||||||
PROVISION FOR INCOME TAX EXPENSE | 363 | 1,112 | 677 | 1,683 | ||||||||||||
Net Income | $ | 1,175 | $ | 361 | $ | 2,393 | $ | 1,369 | ||||||||
EARNINGS PER COMMON SHARE: | ||||||||||||||||
Basic | $ | 0.66 | $ | 0.20 | $ | 1.34 | $ | 0.76 | ||||||||
Diluted | $ | 0.62 | $ | 0.19 | $ | 1.25 | $ | 0.72 | ||||||||
DIVIDENDS DECLARED | $ | 0.14 | $ | 0.12 | $ | 0.28 | $ | 0.24 |
For the Three Months Ended December 31, | For the Six Months Ended December 31, | |||||||||||||||
2018 | 2017 | 2018 | 2017 | |||||||||||||
(In Thousands) | (In Thousands) | |||||||||||||||
Net Income | $ | 1,175 | $ | 361 | $ | 2,393 | $ | 1,369 | ||||||||
Other Comprehensive Income (Loss), Net of Tax | ||||||||||||||||
Unrealized Holding Gain (Loss) on Securities Available-for-Sale, Net of Tax of $63 and $43 in 2018 and $78 and $124 in 2017 | 238 | (153 | ) | 163 | (239 | ) | ||||||||||
Total Comprehensive Income | $ | 1,413 | $ | 208 | $ | 2,556 | $ | 1,130 |
Common Stock | Additional Paid-in Capital | Unearned ESOP Stock | Unearned RRP Trust Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total Stockholders’ Equity | ||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
BALANCE – June 30, 2017 | $ | 23 | $ | 34,516 | $ | (1,215 | ) | $ | (46 | ) | $ | 13,320 | $ | (352 | ) | $ | 46,246 | |||||||||||
Net Income | -- | -- | -- | -- | 1,369 | -- | 1,369 | |||||||||||||||||||||
Changes in Unrealized Gain on Securities Available-for- Sale, Net of Tax Effects | -- | -- | -- | -- | -- | (239 | ) | (239 | ) | |||||||||||||||||||
RRP Shares Earned | -- | -- | -- | 24 | -- | -- | 24 | |||||||||||||||||||||
Stock Options Vested | -- | 68 | -- | -- | -- | -- | 68 | |||||||||||||||||||||
Common Stock Issuance for Stock Option Exercises | -- | 191 | -- | -- | -- | -- | 191 | |||||||||||||||||||||
ESOP Compensation Earned | -- | 99 | 57 | -- | -- | -- | 156 | |||||||||||||||||||||
Company Stock Purchased | -- | -- | -- | -- | (1,417 | ) | -- | (1,417 | ) | |||||||||||||||||||
Dividends Declared | -- | -- | -- | -- | (466 | ) | -- | (466 | ) | |||||||||||||||||||
BALANCE – December 31, 2017 | $ | 23 | $ | 34,874 | $ | (1,158 | ) | $ | (22 | ) | $ | 12,806 | $ | (591 | ) | $ | 45,932 | |||||||||||
BALANCE – June 30, 2018 | $ | 23 | $ | 35,057 | $ | (1,100 | ) | $ | (22 | ) | $ | 14,125 | $ | (1,046 | ) | $ | 47,037 | |||||||||||
Net Income | -- | -- | -- | -- | 2,393 | -- | 2,393 | |||||||||||||||||||||
Changes in Unrealized Gain on Securities Available-for- Sale, Net of Tax Effects | -- | -- | -- | -- | -- | 163 | 163 | |||||||||||||||||||||
Share Awards Earned | -- | 135 | -- | -- | -- | -- | 135 | |||||||||||||||||||||
RRP Shares Earned | -- | -- | -- | 24 | -- | -- | 24 | |||||||||||||||||||||
Stock Options Vested | -- | 68 | -- | -- | -- | -- | 68 | |||||||||||||||||||||
Common Stock Issuance for Stock Option Exercises | -- | 198 | -- | -- | -- | -- | 198 | |||||||||||||||||||||
ESOP Compensation Earned | -- | 128 | 58 | -- | -- | -- | 186 | |||||||||||||||||||||
Company Stock Purchased | -- | -- | -- | -- | (1,037 | ) | -- | (1,037 | ) | |||||||||||||||||||
Dividends Declared | -- | -- | -- | -- | (529 | ) | -- | (529 | ) | |||||||||||||||||||
BALANCE – December 31, 2018 | $ | 23 | $ | 35,586 | $ | (1,042 | ) | $ | 2 | $ | 14,952 | $ | (883 | ) | $ | 48,638 |
Six Months Ended | ||||||||
December 31, | ||||||||
2018 | 2017 | |||||||
(In Thousands) | ||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
Net Income | $ | 2,393 | $ | 1,369 | ||||
Adjustments to Reconcile Net Income to Net | ||||||||
Cash Provided by Operating Activities | ||||||||
Bad Debt Recovery | 1 | 5 | ||||||
Net Amortization and Accretion on Securities | 57 | 96 | ||||||
Loss on Sale of Real Estate | 228 | 1 | ||||||
Gain on Sale of Loans | (766 | ) | (1,035 | ) | ||||
Gain on Sale of Securities | -- | (95 | ) | |||||
Amortization of Deferred Loan Fees | (97 | ) | (72 | ) | ||||
Depreciation of Premises and Equipment | 241 | 254 | ||||||
ESOP Expense | 186 | 156 | ||||||
Stock Option Expense | 68 | 68 | ||||||
Recognition and Retention Plan Expense | 14 | 14 | ||||||
Deferred Income Tax | (26 | ) | 610 | |||||
Valuation Adjustment Real Estate Owned | 75 | -- | ||||||
Provision for Loan Losses | 350 | 500 | ||||||
Increase in Cash Surrender Value on Bank Owned Life Insurance | (70 | ) | (71 | ) | ||||
Share Awards Expense | 68 | 68 | ||||||
Changes in Assets and Liabilities: | ||||||||
Loans Held-for-Sale – Originations and Purchases | (28,395 | ) | (44,573 | ) | ||||
Loans Held-for-Sale – Sale and Principal Repayments | 32,065 | 56,531 | ||||||
Accrued Interest Receivable | (18 | ) | (79 | ) | ||||
Other Operating Assets | 253 | 428 | ||||||
Other Operating Liabilities | (442 | ) | (471 | ) | ||||
Net Cash Provided by Operating Activities | 6,185 | 13,704 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Loan Originations and Purchases, Net of Principal Collections | (4,646 | ) | (3,920 | ) | ||||
Deferred Loan Fees Collected | 85 | 169 | ||||||
Acquisition of Premises and Equipment | (1,923 | ) | (114 | ) | ||||
Proceeds from Sale of Real Estate | 536 | -- | ||||||
Activity in Available-for-Sale Securities: | ||||||||
Principal Payments on Mortgage-Backed Securities | 3,369 | 4,479 | ||||||
Purchases of Securities | (12,522 | ) | (4,947 | ) | ||||
Sale of Securities | -- | 3,555 | ||||||
Activity in Held-to-Maturity Securities: | ||||||||
Principal Payments on Mortgage-Backed Securities | 2,396 | 1,466 | ||||||
Purchase of Securities | -- | (1,174 | ) | |||||
Net Cash Used in Investing Activities | (12,705 | ) | (486 | ) | ||||
HOME FEDERAL BANCORP, INC. OF LOUISIANA | ||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) | ||||||||
(Unaudited) | ||||||||
Six Months Ended | ||||||||
December 31, | ||||||||
2018 | 2017 | |||||||
(In Thousands) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Net Increase in Deposits | $ | 13,147 | $ | 13,180 | ||||
Proceeds from Federal Home Loan Bank Advances | -- | 61,675 | ||||||
Repayments of Advances from Federal Home Loan Bank | (10,140 | ) | (88,808 | ) | ||||
Repayments of Other Borrowings | (300 | ) | -- | |||||
Net Decrease in Advances from Borrowers for Taxes and Insurance | (397 | ) | (384 | ) | ||||
Dividends Paid | (529 | ) | (466 | ) | ||||
Company Stock Purchased | (1,037 | ) | (1,417 | ) | ||||
Proceeds from Stock Options Exercised | 198 | 191 | ||||||
Proceeds from Other Bank Borrowings | 450 | 350 | ||||||
Plan Share Distributions | 135 | -- | ||||||
Net Cash Provided by (Used in) Financing Activities | 1,527 | (15,679 | ) | |||||
NET DECREASE IN CASH AND CASH EQUIVALENTS | (4,993 | ) | (2,461 | ) | ||||
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 15,867 | 11,905 | ||||||
CASH AND CASH EQUIVALENTS - END OF PERIOD | $ | 10,874 | $ | 9,444 | ||||
SUPPLEMENTARY CASH FLOW INFORMATION | ||||||||
Interest Paid on Deposits and Borrowed Funds | $ | 1,403 | $ | 1,614 | ||||
Income Taxes Paid | 787 | 1,101 | ||||||
Market Value Adjustment for Gain (Loss) on Securities Available-for-Sale | 206 | (363 | ) | |||||
| Buildings and Improvements | 10 - 40 Years |
| Furniture and Equipment | 3 - 10 Years |
| | |
December 31, 2018 | ||||||||||||||||
Gross | Gross | |||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||
Cost | Gains | Losses | Value | |||||||||||||
(In Thousands) | ||||||||||||||||
Securities Available-for-Sale | ||||||||||||||||
Debt Securities | ||||||||||||||||
FHLMC Mortgage-Backed Certificates | $ | 8,775 | $ | 1 | $ | 389 | $ | 8,387 | ||||||||
FNMA Mortgage-Backed Certificates | 21,469 | 1 | 474 | 20,996 | ||||||||||||
GNMA Mortgage-Backed Certificates | 9,512 | 1 | 258 | 9,255 | ||||||||||||
Total Debt Securities | 39,756 | 3 | 1,121 | 38,638 | ||||||||||||
Total Securities Available-for-Sale | $ | 39,756 | $ | 3 | $ | 1,121 | $ | 38,638 | ||||||||
Securities Held-to-Maturity | ||||||||||||||||
Debt Securities | ||||||||||||||||
GNMA Mortgage-Backed Certificates | $ | 1,147 | $ | -- | $ | 50 | $ | 1,097 | ||||||||
FNMA Mortgage-Backed Certificates | 22,488 | -- | 709 | 21,779 | ||||||||||||
Total Debt Securities | 23,635 | -- | 759 | 22,876 | ||||||||||||
Equity Securities (Non-Marketable) | ||||||||||||||||
26,249 Shares – Federal Home Loan Bank | 2,625 | -- | -- | 2,625 | ||||||||||||
630 Shares – First National Bankers Bankshares, Inc. | 250 | -- | -- | 250 | ||||||||||||
Total Equity Securities | 2,875 | -- | -- | 2,875 | ||||||||||||
Total Securities Held-to-Maturity | $ | 26,510 | $ | -- | $ | 759 | $ | 25,751 |
June 30, 2018 | ||||||||||||||||
Gross | Gross | |||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||
Cost | Gains | Losses | Value | |||||||||||||
(In Thousands) | ||||||||||||||||
Securities Available-for-Sale | ||||||||||||||||
Debt Securities | ||||||||||||||||
FHLMC Mortgage-Backed Certificates | $ | 7,601 | $ | 2 | $ | 518 | $ | 7,085 | ||||||||
FNMA Mortgage-Backed Certificates | 12,465 | 1 | 554 | 11,912 | ||||||||||||
GNMA Mortgage-Backed Certificates | 10,581 | 2 | 256 | 10,327 | ||||||||||||
Total Debt Securities | 30,647 | 5 | 1,328 | 29,324 | ||||||||||||
Total Securities Available-for-Sale | $ | 30,647 | $ | 5 | $ | 1,328 | $ | 29,324 | ||||||||
Securities Held-to-Maturity | ||||||||||||||||
Debt Securities | ||||||||||||||||
GNMA Mortgage-Backed Securities | $ | 1,160 | $ | -- | $ | 45 | $ | 1,115 | ||||||||
FNMA Mortgage-Backed Securities | 24,882 | -- | 1,025 | 23,857 | ||||||||||||
Total Debt Securities | 26,042 | -- | 1,070 | 24,972 | ||||||||||||
Equity Securities (Non-Marketable) | ||||||||||||||||
25,959 Shares – Federal Home Loan Bank | 2,596 | -- | -- | 2,596 | ||||||||||||
630 Shares – First National Bankers Bankshares, Inc. | 250 | -- | -- | 250 | ||||||||||||
Total Equity Securities | 2,846 | -- | -- | 2,846 | ||||||||||||
Total Securities Held-to-Maturity | $ | 28,888 | $ | -- | $ | 1,070 | $ | 27,818 |
Available-for-Sale | Held-to-Maturity | |||||||||||||||
Amortized | Fair | Amortized | Fair | |||||||||||||
Cost | Value | Cost | Value | |||||||||||||
(In Thousands) | ||||||||||||||||
Debt Securities | ||||||||||||||||
Within One Year or Less | $ | 4 | $ | 4 | $ | -- | $ | -- | ||||||||
One through Five Years | 16,497 | 16,078 | -- | -- | ||||||||||||
After Five through Ten Years | 7,859 | 7,572 | -- | -- | ||||||||||||
Over Ten Years | 15,396 | 14,984 | 23,635 | 22,876 | ||||||||||||
39,756 | 38,638 | 23,635 | 22,876 | |||||||||||||
Other Equity Securities | -- | -- | 2,875 | 2,875 | ||||||||||||
Total | $ | 39,756 | $ | 38,638 | $ | 26,510 | $ | 25,751 |
December 31, 2018 | ||||||||||||||||
Less Than Twelve Months | Over Twelve Months | |||||||||||||||
Gross | Gross | |||||||||||||||
Unrealized | Fair | Unrealized | Fair | |||||||||||||
Losses | Value | Losses | Value | |||||||||||||
(In Thousands) | ||||||||||||||||
Securities Available-for-Sale | ||||||||||||||||
Mortgage-Backed Securities | $ | 184 | $ | 16,737 | $ | 937 | $ | 21,792 | ||||||||
|