CASH 2018 Annual Report

139 LESS THAN 12 MONTHS OVER 12 MONTHS TOTAL At September 30, 2017 Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) (Dollars in Thousands) Debt securities Non-bank qualified obligations of states and political subdivisions $ 280,900 $ (2,887) $ 5,853 $ (150) $ 286,753 $ (3,037) Mortgage-backed securities 237,897 (1,625) 100,287 (2,098) 338,184 (3,723) Total available for sale securities $ 518,797 $ (4,512) $ 106,140 $ (2,248) $ 624,937 $ (6,760) Held To Maturity LESS THAN 12 MONTHS OVER 12 MONTHS TOTAL At September 30, 2018 Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) (Dollars in Thousands) Debt securities Non-bank qualified obligations of states and political subdivisions $ 6,178 $ (287) $ 147,368 $ (10,471) $ 153,546 $ (10,758) Mortgage-backed securities — — 7,428 (422) 7,428 (422) Total held to maturity securities 6,178 (287) 154,796 (10,893) 160,974 (11,180) LESS THAN 12 MONTHS OVER 12 MONTHS TOTAL At September 30, 2017 Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) Fair Value Unrealized (Losses) (Dollars in Thousands) Debt securities Obligations of states and political subdivisions $ 1,364 $ (6) $ 4,089 $ (30) $ 5,453 $ (36) Non-bank qualified obligations of states and political subdivisions 202,018 (2,783) 6,206 (193) 208,224 (2,976) Mortgage-backed securities 112,456 (1,233) — — 112,456 (1,233) Total held to maturity securities $ 315,838 $ (4,022) $ 10,295 $ (223) $ 326,133 $ (4,245) As of September 30, 2018 and 2017, the investment portfolio included securities with current unrealized losses which have existed for longer than one year. All of these securities are considered to be acceptable credit risks. Because the declines in fair value were due to changes in market interest rates, not in estimated cash flows, and the Company does not intend to sell these securities (has not made a decision to sell), and it is not more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, which may occur at maturity, no other-than-temporary impairment was recorded at September 30, 2018 or 2017. The amortized cost and fair value of debt securities by contractual maturity are shown below. Certain securities have call features which allow the issuer to call the security prior to maturity. Expected maturities may differ from contractual maturities in MBS because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Therefore, MBS are not included in the maturity categories in the following maturity summary. The expected maturities of certain SBA securities may differ from contractual maturities because the borrowers may have the right to prepay the obligation. However, certain prepayment penalties may apply.