SECURITIES (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| SECURITIES [Abstract] |
|
| Amortized Cost and Fair Value of Securities |
The amortized cost and fair value of securities at period-end were as follows (dollars in thousands):
| |
|
Amortized
Cost
|
|
|
Gross
Unrealized
Gains
|
|
|
Gross
Unrealized
Losses
|
|
|
Fair
Value
|
|
September 30, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
85,734 |
|
|
$ |
496 |
|
|
$ |
(40 |
) |
|
$ |
86,190 |
|
U.S. Agency MBS and CMOs |
|
|
12,984 |
|
|
|
134 |
|
|
|
(6 |
) |
|
|
13,112 |
|
Tax-exempt state and municipal bonds |
|
|
36,592 |
|
|
|
1,113 |
|
|
|
(17 |
) |
|
|
37,688 |
|
Taxable state and municipal bonds |
|
|
32,117 |
|
|
|
446 |
|
|
|
(17 |
) |
|
|
32,546 |
|
Corporate bonds and other debt securities |
|
|
13,266 |
|
|
|
86 |
|
|
|
(3 |
) |
|
|
13,349 |
|
Other equity securities |
|
|
1,500 |
|
|
|
18 |
|
|
|
--- |
|
|
|
1,518 |
|
| |
|
$ |
182,193 |
|
|
$ |
2,293 |
|
|
$ |
(83 |
) |
|
$ |
184,403 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
58,893 |
|
|
$ |
1,480 |
|
|
$ |
--- |
|
|
$ |
60,373 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
74,618 |
|
|
$ |
48 |
|
|
$ |
(274 |
) |
|
$ |
74,392 |
|
U. S. Agency MBS and CMOs |
|
|
13,828 |
|
|
|
35 |
|
|
|
(108 |
) |
|
|
13,755 |
|
Tax-exempt state and municipal bonds |
|
|
32,943 |
|
|
|
692 |
|
|
|
(37 |
) |
|
|
33,598 |
|
Taxable state and municipal bonds |
|
|
28,554 |
|
|
|
246 |
|
|
|
(37 |
) |
|
|
28,763 |
|
Corporate bonds and other debt securities |
|
|
14,838 |
|
|
|
19 |
|
|
|
(44 |
) |
|
|
14,813 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(6 |
) |
|
|
1,494 |
|
|
|
$ |
166,281 |
|
|
$ |
1,040 |
|
|
$ |
(506 |
) |
|
$ |
166,815 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
51,856 |
|
|
$ |
986 |
|
|
$ |
(5 |
) |
|
$ |
52,837 |
|
|
| Contractual Maturities of Debt Securities |
Contractual maturities of debt securities at September 30, 2016 were as follows (dollars in thousands):
| |
|
Held–to-Maturity Securities |
|
|
Available-for-Sale Securities |
|
| |
|
Amortized
Cost
|
|
|
Fair
Value
|
|
|
Amortized
Cost
|
|
|
Fair
Value
|
|
Due in one year or less |
|
$ |
22,529 |
|
|
$ |
22,538 |
|
|
$ |
13,448 |
|
|
$ |
13,513 |
|
Due from one to five years |
|
|
15,546 |
|
|
|
16,228 |
|
|
|
95,679 |
|
|
|
96,614 |
|
Due from five to ten years |
|
|
8,618 |
|
|
|
9,148 |
|
|
|
56,285 |
|
|
|
57,352 |
|
Due after ten years |
|
|
12,200 |
|
|
|
12,459 |
|
|
|
15,281 |
|
|
|
15,406 |
|
| |
|
$ |
58,893 |
|
|
$ |
60,373 |
|
|
$ |
180,693 |
|
|
$ |
182,885 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at September 30, 2016 and December 31, 2015, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows (dollars in thousands):
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
September 30, 2016 |
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
15,757 |
|
|
$ |
(38 |
) |
|
$ |
3,078 |
|
|
$ |
(2 |
) |
|
$ |
18,835 |
|
|
$ |
(40 |
) |
U.S. Agency MBS and CMOs |
|
|
1,355 |
|
|
|
(6 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,355 |
|
|
|
(6 |
) |
Tax-exempt state and municipal bonds |
|
|
2,718 |
|
|
|
(17 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
2,718 |
|
|
|
(17 |
) |
Taxable state and municipal bonds |
|
|
3,300 |
|
|
|
(17 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
3,300 |
|
|
|
(17 |
) |
Corporate bonds and other debt securities |
|
|
1,527 |
|
|
|
(3 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,527 |
|
|
|
(3 |
) |
Other equity securities |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Total temporarily impaired |
|
$ |
24,657 |
|
|
$ |
(81 |
) |
|
$ |
3,078 |
|
|
$ |
(2 |
) |
|
$ |
27,735 |
|
|
$ |
(83 |
) |
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
December 31, 2015 |
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
35,090 |
|
|
$ |
(187 |
) |
|
$ |
7,036 |
|
|
$ |
(82 |
) |
|
$ |
42,126 |
|
|
$ |
(269 |
) |
U.S. Agency MBS and CMOs |
|
|
8,842 |
|
|
|
(108 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
8,842 |
|
|
|
(108 |
) |
Tax-exempt state and municipal bonds |
|
|
3,487 |
|
|
|
(9 |
) |
|
|
2,022 |
|
|
|
(33 |
) |
|
|
5,509 |
|
|
|
(42 |
) |
Taxable state and municipal bonds |
|
|
8,158 |
|
|
|
(29 |
) |
|
|
640 |
|
|
|
(8 |
) |
|
|
8,798 |
|
|
|
(37 |
) |
Corporate bonds and other debt securities |
|
|
9,330 |
|
|
|
(47 |
) |
|
|
499 |
|
|
|
(2 |
) |
|
|
9,829 |
|
|
|
(49 |
) |
Other equity securities |
|
|
1,494 |
|
|
|
(6 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,494 |
|
|
|
(6 |
) |
Total temporarily impaired |
|
$ |
66,401 |
|
|
$ |
(386 |
) |
|
$ |
10,197 |
|
|
$ |
(125 |
) |
|
$ |
76,598 |
|
|
$ |
(511 |
) |
|