Quarterly report pursuant to Section 13 or 15(d)

SECURITIES (Tables)

v3.10.0.1
SECURITIES (Tables)
 9 Months Ended
Sep. 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
  
September 30, 2018
                        
Available for Sale:
                        
U.S. Treasury and federal agency securities
  
$
94,152
    
$
---
    
$
(2,739
)
  
$
91,413
  
U.S. Agency MBS and CMOs
    
31,126
      
---
      
(1,060
)
    
30,066
  
Tax-exempt state and municipal bonds
    
44,399
      
119
      
(695
)
    
43,823
  
Taxable state and municipal bonds
    
46,400
      
---
      
(1,216
)
    
45,184
  
Corporate bonds and other debt securities
    
8,219
      
---
      
(90
)
    
8,129
  
   
$
224,296
    
$
119
    
$
(5,800
)
  
$
218,615
  
Held to Maturity
                                
Tax-exempt state and municipal bonds
  
$
71,688
    
$
946
    
$
(486
)
  
$
72,148
  
 

   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 September 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
  
$
6,355
    
$
6,354
    
$
21,208
    
$
21,070
  
Due from one to five years
    
29,373
      
29,619
      
125,897
      
122,352
  
Due from five to ten years
    
11,577
      
11,676
      
46,504
      
45,540
  
Due after ten years
    
24,383
      
24,499
      
30,687
      
29,653
  
   
$
71,688
    
$
72,148
    
$
224,296
    
$
218,615
  
Securities in Continuous Unrealized Loss Position
Securities with unrealized losses at September 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
  
 
September 30, 2018
  
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
U.S. Treasury and federal agency securities
  
$
22,389
    
$
(559
)
  
$
65,532
    
$
(2,082
)
  
$
87,921
    
$
(2,641
)
U.S. Agency MBS and CMOs
    
15,616
      
(368
)
    
14,373
      
(692
)
    
29,989
      
(1,060
)
Tax-exempt state and municipal bonds
    
40,724
      
(850
)
    
7,131
      
(332
)
    
47,855
      
(1,182
)
Taxable state and municipal bonds
    
22,538
      
(445
)
    
21,236
      
(771
)
    
43,774
      
(1,216
)
Corporate bonds and other debt securities
    
7,393
      
(63
)
    
4,228
      
(124
)
    
11,621
      
(187
)
Total temporarily impaired
  
$
108,660
    
$
(2,285
)
  
$
112,500
    
$
(4,001
)
  
$
221,160
    
$
(6,286
)
 
   
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
)