SECURITIES (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| SECURITIES [Abstract] |
|
| Amortized Cost and Fair Value of Securities |
The amortized cost and fair value of securities were as follows (dollars in thousands):
| |
|
Amortized
Cost
|
|
|
Gross
Unrealized
Gains
|
|
|
Gross
Unrealized
Losses
|
|
|
Fair
Value
|
|
December 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
103,309 |
|
|
$ |
--- |
|
|
$ |
(1,345 |
) |
|
$ |
101,964 |
|
U.S. Agency MBS and CMOs |
|
|
23,797 |
|
|
|
7 |
|
|
|
(419 |
) |
|
|
23,385 |
|
Tax-exempt state and municipal bonds |
|
|
41,684 |
|
|
|
519 |
|
|
|
(146 |
) |
|
|
42,057 |
|
Taxable state and municipal bonds |
|
|
44,267 |
|
|
|
10 |
|
|
|
(542 |
) |
|
|
43,735 |
|
Corporate bonds and other debt securities |
|
|
8,149 |
|
|
|
1 |
|
|
|
(41 |
) |
|
|
8,109 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(30 |
) |
|
|
1,470 |
|
| |
|
$ |
222,706 |
|
|
$ |
537 |
|
|
$ |
(2,523 |
) |
|
$ |
220,720 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
85,827 |
|
|
$ |
806 |
|
|
$ |
(181 |
) |
|
$ |
86,452 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 December 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 |
|
$ |
13,255 |
|
|
$ |
13,257 |
|
|
$ |
19,180 |
|
|
$ |
19,169 |
|
Due from one to five years |
|
|
23,772 |
|
|
|
24,069 |
|
|
|
121,100 |
|
|
|
119,712 |
|
Due from five to ten years |
|
|
16,408 |
|
|
|
16,799 |
|
|
|
57,358 |
|
|
|
57,209 |
|
Due after ten years |
|
|
32,392 |
|
|
|
32,327 |
|
|
|
23,568 |
|
|
|
23,160 |
|
| |
|
$ |
85,827 |
|
|
$ |
86,452 |
|
|
$ |
221,206 |
|
|
$ |
219,250 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at December 31, 2017 and 2016, 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, 2017
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
50,614 |
|
|
$ |
(439 |
) |
|
$ |
43,787 |
|
|
$ |
(876 |
) |
|
$ |
94,401 |
|
|
$ |
(1,315 |
) |
U.S. Agency MBS and CMOs |
|
|
16,719 |
|
|
|
(249 |
) |
|
|
6,228 |
|
|
|
(170 |
) |
|
|
22,947 |
|
|
|
(419 |
) |
Tax-exempt state and municipal bonds |
|
|
20,124 |
|
|
|
(243 |
) |
|
|
4,208 |
|
|
|
(82 |
) |
|
|
24,332 |
|
|
|
(325 |
) |
Taxable state and municipal bonds |
|
|
30,331 |
|
|
|
(279 |
) |
|
|
9,781 |
|
|
|
(265 |
) |
|
|
40,112 |
|
|
|
(544 |
) |
Corporate bonds and other debt securities |
|
|
8,021 |
|
|
|
(42 |
) |
|
|
2,250 |
|
|
|
(29 |
) |
|
|
10,271 |
|
|
|
(71 |
) |
Other equity securities |
|
|
--- |
|
|
|
--- |
|
|
|
1,470 |
|
|
|
(30 |
) |
|
|
1,470 |
|
|
|
(30 |
) |
Total temporarily impaired |
|
$ |
125,809 |
|
|
$ |
(1,252 |
) |
|
$ |
67,724 |
|
|
$ |
(1,452 |
) |
|
$ |
193,533 |
|
|
$ |
(2,704 |
) |
| |
|
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 |
) |
|