SECURITIES (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| SECURITIES [Abstract] |
|
| Amortized Cost and Fair Value of Securities |
The amortized cost and fair value of securities were as follows (dollars in thousands):
| |
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
85,582 |
|
|
$ |
49 |
|
|
$ |
(1,281 |
) |
|
$ |
84,350 |
|
U.S. Agency MBS and CMOs |
|
|
12,037 |
|
|
|
11 |
|
|
|
(231 |
) |
|
|
11,817 |
|
Tax-exempt state and municipal bonds |
|
|
39,578 |
|
|
|
212 |
|
|
|
(603 |
) |
|
|
39,187 |
|
Taxable state and municipal bonds |
|
|
34,255 |
|
|
|
65 |
|
|
|
(437 |
) |
|
|
33,883 |
|
Corporate bonds and other debt securities |
|
|
13,765 |
|
|
|
16 |
|
|
|
(55 |
) |
|
|
13,726 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(30 |
) |
|
|
1,470 |
|
| |
|
$ |
186,717 |
|
|
$ |
353 |
|
|
$ |
(2,637 |
) |
|
$ |
184,433 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
69,378 |
|
|
$ |
573 |
|
|
$ |
(102 |
) |
|
$ |
69,849 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 December 31, 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 |
|
$ |
25,203 |
|
|
$ |
25,156 |
|
|
$ |
17,192 |
|
|
$ |
17,228 |
|
Due from one to five years |
|
|
14,801 |
|
|
|
15,069 |
|
|
|
94,916 |
|
|
|
94,067 |
|
Due from five to ten years |
|
|
8,279 |
|
|
|
8,443 |
|
|
|
57,224 |
|
|
|
56,200 |
|
Due after ten years |
|
|
21,095 |
|
|
|
21,181 |
|
|
|
15,885 |
|
|
|
15,468 |
|
| |
|
$ |
69,378 |
|
|
$ |
69,849 |
|
|
$ |
185,217 |
|
|
$ |
182,963 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at December 31, 2016 and 2015, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (dollars in thousands):
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
|
December 31, 2016
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
59,129 |
|
|
$ |
(1,271 |
) |
|
$ |
3,053 |
|
|
$ |
(10 |
) |
|
$ |
62,182 |
|
|
$ |
(1,281 |
) |
U.S. Agency MBS and CMOs |
|
|
10,702 |
|
|
|
(231 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
10,702 |
|
|
|
(231 |
) |
Tax-exempt state and municipal bonds |
|
|
49,508 |
|
|
|
(698 |
) |
|
|
1,672 |
|
|
|
(7 |
) |
|
|
51,180 |
|
|
|
(705 |
) |
Taxable state and municipal bonds |
|
|
22,633 |
|
|
|
(437 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
22,633 |
|
|
|
(437 |
) |
Corporate bonds and other debt securities |
|
|
5,745 |
|
|
|
(50 |
) |
|
|
500 |
|
|
|
(5 |
) |
|
|
6,245 |
|
|
|
(55 |
) |
Other equity securities |
|
|
1,470 |
|
|
|
(30 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,470 |
|
|
|
(30 |
) |
Total temporarily impaired |
|
$ |
149,187 |
|
|
$ |
(2,717 |
) |
|
$ |
5,225 |
|
|
$ |
(22 |
) |
|
$ |
154,412 |
|
|
$ |
(2,739 |
) |
| |
|
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 |
) |
|