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SEC Filings

10-Q
CITIZENS HOLDING CO /MS/ filed this Form 10-Q on 11/09/2016
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Note 6. Securities

The amortized cost and estimated fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:

 

                                                                                       
            Gross      Gross         
September 30, 2016    Amortized      Unrealized      Unrealized      Estimated  
     Cost      Gains      Losses      Fair Value  

Securities available-for-sale

           

Obligations of U.S. Government agencies

   $ 169,085,427       $ 840,946       $ 139,652       $ 169,786,721   

Mortgage backed securities

     129,312,239         976,404         436,597         129,852,046   

State, County, Municipals

     152,433,503         3,076,906         1,438,818         154,071,591   

Other investments

     2,884,808         56,151         —           2,940,959   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 453,715,977       $ 4,950,407       $ 2,015,067       $ 456,651,317   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

                                                                                       
            Gross      Gross         
December 31, 2015    Amortized      Unrealized      Unrealized      Estimated  
     Cost      Gains      Losses      Fair Value  

Securities available-for-sale

           

Obligations of U.S. Government agencies

   $ 83,826,411       $ 1,100       $ 1,577,145       $ 82,250,366   

Mortgage backed securities

     92,602,875         467,693         1,348,603         91,721,965   

State, County, Municipals

     87,948,336         2,609,469         181,442         90,376,363   

Other investments

     2,931,134         —           15,425         2,915,709   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 267,308,756       $ 3,078,262       $ 3,122,615       $ 267,264,403   
  

 

 

    

 

 

    

 

 

    

 

 

 

During the nine months ended September 30, 2016 all of the securities that were classified as held-to-maturity were called or matured and the Corporation does not intend to purchase other securities to be classified as held-to-maturity at this time. This decision to not invest in securities classified held-to-maturity is the main reason for the increase in available-for-sale securities during the nine-month period ended September 30, 2016.

In conjunction with the call and maturity of all held-to-maturity securities, the remaining associated balance of unrealized losses in other comprehensive income was fully amortized in the third quarter of 2016.

 

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