SECURITIES (Tables)
|
3 Months Ended |
Mar. 31, 2017 |
|---|
| 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
|
|
March 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
86,517 |
|
|
$ |
61 |
|
|
$ |
(900 |
) |
|
$ |
85,678 |
|
U.S. Agency MBS and CMOs |
|
|
11,306 |
|
|
|
16 |
|
|
|
(157 |
) |
|
|
11,165 |
|
Tax-exempt state and municipal bonds |
|
|
39,746 |
|
|
|
411 |
|
|
|
(348 |
) |
|
|
39,809 |
|
Taxable state and municipal bonds |
|
|
34,757 |
|
|
|
82 |
|
|
|
(342 |
) |
|
|
34,497 |
|
Corporate bonds and other debt securities |
|
|
12,002 |
|
|
|
16 |
|
|
|
(32 |
) |
|
|
11,986 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(30 |
) |
|
|
1,470 |
|
| |
|
$ |
185,828 |
|
|
$ |
586 |
|
|
$ |
(1,809 |
) |
|
$ |
184,605 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
68,473 |
|
|
$ |
683 |
|
|
$ |
(77 |
) |
|
$ |
69,079 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
| Contractual Maturities of Debt Securities |
Contractual maturities of debt securities at March 31, 2017 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 |
|
$ |
24,552 |
|
|
$ |
24,519 |
|
|
$ |
18,210 |
|
|
$ |
18,212 |
|
Due from one to five years |
|
|
14,710 |
|
|
|
15,048 |
|
|
|
96,325 |
|
|
|
95,760 |
|
Due from five to ten years |
|
|
8,279 |
|
|
|
8,471 |
|
|
|
54,895 |
|
|
|
54,526 |
|
Due after ten years |
|
|
20,932 |
|
|
|
21,041 |
|
|
|
14,898 |
|
|
|
14,637 |
|
| |
|
$ |
68,473 |
|
|
$ |
69,079 |
|
|
$ |
184,328 |
|
|
$ |
183,135 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at March 31, 2017 and December 31, 2016, 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 |
|
March 31, 2017 |
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
60,493 |
|
|
$ |
(890 |
) |
|
$ |
3,039 |
|
|
$ |
(10 |
) |
|
$ |
63,532 |
|
|
$ |
(900 |
) |
U.S. Agency MBS and CMOs |
|
|
10,114 |
|
|
|
(157 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
10,114 |
|
|
|
(157 |
) |
Tax-exempt state and municipal bonds |
|
|
37,802 |
|
|
|
(412 |
) |
|
|
397 |
|
|
|
(8 |
) |
|
|
38,199 |
|
|
|
(420 |
) |
Taxable state and municipal bonds |
|
|
19,139 |
|
|
|
(347 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
19,139 |
|
|
|
(347 |
) |
Corporate bonds and other debt securities |
|
|
5,628 |
|
|
|
(28 |
) |
|
|
500 |
|
|
|
(4 |
) |
|
|
6,128 |
|
|
|
(32 |
) |
Other equity securities |
|
|
1,470 |
|
|
|
(30 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,470 |
|
|
|
(30 |
) |
Total temporarily impaired |
|
$ |
134,646 |
|
|
$ |
(1,864 |
) |
|
$ |
3,936 |
|
|
$ |
(22 |
) |
|
$ |
138,582 |
|
|
$ |
(1,886 |
) |
| |
|
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 |
) |
|