SECURITIES (Tables)
|
6 Months Ended |
Jun. 30, 2018 |
|---|
| 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
|
|
June 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
96,201 |
|
|
$ |
--- |
|
|
$ |
(2,499 |
) |
|
$ |
93,702 |
|
U.S. Agency MBS and CMOs |
|
|
29,509 |
|
|
|
4 |
|
|
|
(860 |
) |
|
|
28,653 |
|
Tax-exempt state and municipal bonds |
|
|
44,089 |
|
|
|
204 |
|
|
|
(535 |
) |
|
|
43,758 |
|
Taxable state and municipal bonds |
|
|
45,371 |
|
|
|
5 |
|
|
|
(1,053 |
) |
|
|
44,323 |
|
Corporate bonds and other debt securities |
|
|
8,425 |
|
|
|
--- |
|
|
|
(91 |
) |
|
|
8,334 |
|
| |
|
$ |
223,595 |
|
|
$ |
213 |
|
|
$ |
(5,038 |
) |
|
$ |
218,770 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
79,569 |
|
|
$ |
1,375 |
|
|
$ |
(408 |
) |
|
$ |
80,536 |
|
| |
|
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 |
|
|
| Contractual Maturities of Debt Securities |
Contractual maturities of debt securities at June 30, 2018 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 |
|
$ |
14,095 |
|
|
$ |
14,126 |
|
|
$ |
14,875 |
|
|
$ |
14,820 |
|
Due from one to five years |
|
|
26,634 |
|
|
|
26,962 |
|
|
|
127,872 |
|
|
|
124,892 |
|
Due from five to ten years |
|
|
14,457 |
|
|
|
14,753 |
|
|
|
51,872 |
|
|
|
50,915 |
|
Due after ten years |
|
|
24,383 |
|
|
|
24,695 |
|
|
|
28,976 |
|
|
|
28,143 |
|
| |
|
$ |
79,569 |
|
|
$ |
80,536 |
|
|
$ |
223,595 |
|
|
$ |
218,770 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at June 30, 2018 and December 31, 2017, 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 |
|
|
June 30, 2018
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
45,027 |
|
|
$ |
(990 |
) |
|
$ |
43,172 |
|
|
$ |
(1,422 |
) |
|
$ |
88,199 |
|
|
$ |
(2,412 |
) |
U.S. Agency MBS and CMOs |
|
|
21,112 |
|
|
|
(603 |
) |
|
|
5,526 |
|
|
|
(257 |
) |
|
|
26,638 |
|
|
|
(860 |
) |
Tax-exempt state and municipal bonds |
|
|
32,386 |
|
|
|
(752 |
) |
|
|
4,079 |
|
|
|
(191 |
) |
|
|
36,465 |
|
|
|
(943 |
) |
Taxable state and municipal bonds |
|
|
31,882 |
|
|
|
(633 |
) |
|
|
11,065 |
|
|
|
(420 |
) |
|
|
42,947 |
|
|
|
(1,053 |
) |
Corporate bonds and other debt securities |
|
|
9,605 |
|
|
|
(138 |
) |
|
|
2,231 |
|
|
|
(40 |
) |
|
|
11,836 |
|
|
|
(178 |
) |
Total temporarily impaired |
|
$ |
140,012 |
|
|
$ |
(3,116 |
) |
|
$ |
66,073 |
|
|
$ |
(2,330 |
) |
|
$ |
206,085 |
|
|
$ |
(5,446 |
) |
| |
|
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 |
) |
|