|
SECURITIES (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| SECURITIES [Abstract] |
|
| Amortized cost and fair value of securities |
The amortized cost and fair value of securities at year-end were as follows (dollars in thousands):
|
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
|
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
2013 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
55,701 |
|
|
$ |
92 |
|
|
$ |
(1,354 |
) |
|
$ |
54,439 |
|
U.S. Agency MBS and CMOs |
|
|
20,029 |
|
|
|
9 |
|
|
|
(673 |
) |
|
|
19,365 |
|
Tax-exempt state and municipal bonds |
|
|
27,920 |
|
|
|
47 |
|
|
|
(1,118 |
) |
|
|
26,849 |
|
Taxable state and municipal bonds |
|
|
26,306 |
|
|
|
307 |
|
|
|
(285 |
) |
|
|
26,328 |
|
Corporate bonds and other debt securities |
|
|
11,211 |
|
|
|
64 |
|
|
|
(63 |
) |
|
|
11,212 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(34 |
) |
|
|
1,466 |
|
|
|
$ |
142,667 |
|
|
$ |
519 |
|
|
$ |
(3,527 |
) |
|
$ |
139,659 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State and municipal bonds |
|
$ |
19,248 |
|
|
$ |
46 |
|
|
$ |
(16 |
) |
|
$ |
19,278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
42,245 |
|
|
$ |
340 |
|
|
$ |
(21 |
) |
|
$ |
42,564 |
|
U. S. Agency MBS and CMOs |
|
|
23,495 |
|
|
|
272 |
|
|
|
(6 |
) |
|
|
23,761 |
|
Tax-exempt state and municipal bonds |
|
|
20,598 |
|
|
|
244 |
|
|
|
(49 |
) |
|
|
20,793 |
|
Taxable state and municipal bonds |
|
|
26,726 |
|
|
|
619 |
|
|
|
(49 |
) |
|
|
27,296 |
|
Corporate bonds |
|
|
7,456 |
|
|
|
77 |
|
|
|
(7 |
) |
|
|
7,526 |
|
Other equity securities |
|
|
1,500 |
|
|
|
57 |
|
|
|
--- |
|
|
|
1,557 |
|
|
|
$ |
122,020 |
|
|
$ |
1,609 |
|
|
$ |
(132 |
) |
|
$ |
123,497 |
|
Held to Maturity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State and municipal bonds |
|
$ |
4,300 |
|
|
$ |
1 |
|
|
$ |
--- |
|
|
$ |
4,301 |
|
|
| Contractual maturities of debt securities |
Contractual maturities of debt securities at December 31, 2013 were as follows (dollars in thousands):
|
Held–to-Maturity Securities |
|
Available-for-Sale Securities |
|
|
Amortized |
|
Fair |
|
Amortized |
|
Fair |
|
|
Cost |
|
Value |
|
Cost |
|
Value |
|
Due in one year or less |
|
$ |
12,655 |
|
|
$ |
12,676 |
|
|
$ |
7,891 |
|
|
$ |
7,956 |
|
Due from one to five years |
|
|
625 |
|
|
|
624 |
|
|
|
57,365 |
|
|
|
57,312 |
|
Due from five to ten years |
|
|
5,688 |
|
|
|
5,693 |
|
|
|
49,436 |
|
|
|
47,600 |
|
Due after ten years |
|
|
280 |
|
|
|
285 |
|
|
|
26,475 |
|
|
|
25,325 |
|
|
|
$ |
19,248 |
|
|
$ |
19,278 |
|
|
$ |
141,167 |
|
|
$ |
138,193 |
|
|
| Securities in continuous unrealized loss position |
Securities with unrealized losses at December 31, 2013 and 2012, 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 |
|
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
December 31, 2013 |
|
Value |
|
|
Loss |
|
|
Value |
|
|
Loss |
|
|
Value |
|
|
Loss |
|
U.S. Treasury and federal agency securities |
|
$ |
43,212 |
|
|
$ |
(1,354 |
) |
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
43,212 |
|
|
$ |
(1,354 |
) |
U.S. Agency MBS and CMOs |
|
|
18,494 |
|
|
|
(673 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
18,494 |
|
|
|
(673 |
) |
Tax-exempt state and municipal bonds |
|
|
21,359 |
|
|
|
(1,066 |
) |
|
|
831 |
|
|
|
(68 |
) |
|
|
22,190 |
|
|
|
(1,134 |
) |
Taxable state and municipal bonds |
|
|
9,599 |
|
|
|
(256 |
) |
|
|
1,015 |
|
|
|
(29 |
) |
|
|
10,614 |
|
|
|
(285 |
) |
Corporate bonds and other debt securities |
|
|
3,928 |
|
|
|
(63 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
3,928 |
|
|
|
(63 |
) |
Other equity securities |
|
|
1,466 |
|
|
|
(34 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,466 |
|
|
|
(34 |
) |
Total temporarily impaired |
|
$ |
98,058 |
|
|
$ |
(3,446 |
) |
|
$ |
1,846 |
|
|
$ |
(97 |
) |
|
$ |
99,904 |
|
|
$ |
(3,543 |
) |
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
December 31, 2012 |
|
Value |
|
|
Loss |
|
|
Value |
|
|
Loss |
|
|
Value |
|
|
Loss |
|
U.S. Treasury and federal agency securities |
|
$ |
10,977 |
|
|
$ |
(21 |
) |
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
10,977 |
|
|
$ |
(21 |
) |
U.S. Agency MBS and CMOs |
|
|
3,373 |
|
|
|
(6 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
3,373 |
|
|
|
(6 |
) |
Tax-exempt state and municipal bonds |
|
|
4,613 |
|
|
|
(49 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
4,613 |
|
|
|
(49 |
) |
Taxable state and municipal bonds |
|
|
4,661 |
|
|
|
(49 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
4,661 |
|
|
|
(49 |
) |
Corporate bonds |
|
|
3,945 |
|
|
|
(7 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
3,945 |
|
|
|
(7 |
) |
Other equity securities |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Total temporarily impaired |
|
$ |
27,569 |
|
|
$ |
(132 |
) |
|
$ |
--- |
|
|
$ |
--- |
|
|
$ |
27,569 |
|
|
$ |
(132 |
) |
|