|
SECURITIES (Tables)
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3 Months Ended |
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Mar. 31, 2015
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| 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):
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March 31, 2015 |
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Available for Sale: |
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|
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|
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|
|
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|
U.S. Treasury and federal agency securities |
|
$ |
65,619 |
|
|
|
162 |
|
|
|
(81 |
) |
|
$ |
65,700 |
|
U.S. Agency MBS and CMOs |
|
|
15,832 |
|
|
|
114 |
|
|
|
(14 |
) |
|
|
15,932 |
|
Tax-exempt state and municipal bonds |
|
|
35,643 |
|
|
|
637 |
|
|
|
(53 |
) |
|
|
36,227 |
|
Taxable state and municipal bonds |
|
|
23,520 |
|
|
|
446 |
|
|
|
(6 |
) |
|
|
23,960 |
|
Corporate bonds and other debt securities |
|
|
12,234 |
|
|
|
74 |
|
|
|
(3 |
) |
|
|
12,305 |
|
Other equity securities |
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|
1,500 |
|
|
|
16 |
|
|
|
--- |
|
|
|
1,516 |
|
| |
|
$ |
154,348 |
|
|
$ |
1,449 |
|
|
$ |
(157 |
) |
|
$ |
155,640 |
|
Held to Maturity |
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|
|
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|
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Tax-exempt state and municipal bonds |
|
$ |
43,042 |
|
|
$ |
372 |
|
|
$ |
(12 |
) |
|
$ |
43,402 |
|
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|
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|
December 31, 2014 |
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Available for Sale: |
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|
|
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|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
67,612 |
|
|
$ |
53 |
|
|
$ |
(501 |
) |
|
$ |
67,164 |
|
U. S. Agency MBS and CMOs |
|
|
16,692 |
|
|
|
67 |
|
|
|
(71 |
) |
|
|
16,688 |
|
Tax-exempt state and municipal bonds |
|
|
37,203 |
|
|
|
419 |
|
|
|
(161 |
) |
|
|
37,461 |
|
Taxable state and municipal bonds |
|
|
25,012 |
|
|
|
351 |
|
|
|
(70 |
) |
|
|
25,293 |
|
Corporate bonds and other debt securities |
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|
13,762 |
|
|
|
34 |
|
|
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(30 |
) |
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|
13,766 |
|
Other equity securities |
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|
1,500 |
|
|
|
2 |
|
|
|
--- |
|
|
|
1,502 |
|
| |
|
$ |
161,781 |
|
|
$ |
926 |
|
|
$ |
(833 |
) |
|
$ |
161,874 |
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Held to Maturity: |
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|
|
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|
|
|
|
|
|
|
|
|
|
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Tax-exempt state and municipal bonds |
|
$ |
31,585 |
|
|
$ |
64 |
|
|
$ |
(221 |
) |
|
$ |
31,428 |
|
|
| Contractual maturities of debt securities |
Contractual maturities of debt securities at March 31, 2015 were as follows (dollars in thousands):
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|
Held–to-Maturity Securities |
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|
Available-for-Sale Securities |
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| |
|
|
|
|
|
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|
|
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Due in one year or less |
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$ |
19,030 |
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|
$ |
19,022 |
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|
$ |
2,592 |
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|
$ |
2,606 |
|
Due from one to five years |
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|
3,796 |
|
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|
3,816 |
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|
93,449 |
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|
|
94,048 |
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Due from five to ten years |
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|
19,976 |
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|
20,324 |
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|
35,906 |
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|
|
36,393 |
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Due after ten years |
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|
240 |
|
|
|
240 |
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|
|
20,901 |
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|
21,077 |
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| |
|
$ |
43,042 |
|
|
$ |
43,402 |
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|
$ |
152,848 |
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|
$ |
154,124 |
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|
| Securities in continuous unrealized loss position |
Securities with unrealized losses at March 31, 2015 and December 31, 2014, 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):
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Less than 12 Months |
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12 Months or More |
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Total |
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March 31, 2015 |
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|
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U.S. Treasury and federal agency securities |
|
$ |
5,747 |
|
|
$ |
(7 |
) |
|
$ |
19,407 |
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|
$ |
(74 |
) |
|
$ |
25,154 |
|
|
$ |
(81 |
) |
U.S. Agency MBS and CMOs |
|
|
2,127 |
|
|
|
(11 |
) |
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|
1,084 |
|
|
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(3 |
) |
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|
3,211 |
|
|
|
(14 |
) |
Tax-exempt state and municipal bonds |
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|
18,188 |
|
|
|
(16 |
) |
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|
2,265 |
|
|
|
(49 |
) |
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|
20,453 |
|
|
|
(65 |
) |
Taxable state and municipal bonds |
|
|
--- |
|
|
|
--- |
|
|
|
1,209 |
|
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|
(6 |
) |
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|
1,209 |
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|
|
(6 |
) |
Corporate bonds and other debt securities |
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|
1,080 |
|
|
|
(1 |
) |
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|
501 |
|
|
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(2 |
) |
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|
1,581 |
|
|
|
(3 |
) |
Other equity securities |
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|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Total temporarily impaired |
|
$ |
27,142 |
|
|
$ |
(35 |
) |
|
$ |
24,466 |
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|
$ |
(134 |
) |
|
$ |
51,608 |
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|
$ |
(169 |
) |
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Less than 12 Months |
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|
12 Months or More |
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Total |
|
December 31, 2014 |
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|
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|
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|
|
|
|
|
|
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|
U.S. Treasury and federal agency securities |
|
$ |
16,426 |
|
|
$ |
(45 |
) |
|
$ |
35,350 |
|
|
$ |
(456 |
) |
|
$ |
51,776 |
|
|
$ |
(501 |
) |
U.S. Agency MBS and CMOs |
|
|
--- |
|
|
|
--- |
|
|
|
9,732 |
|
|
|
(71 |
) |
|
|
9,732 |
|
|
|
(71 |
) |
Tax-exempt state and municipal bonds |
|
|
26,820 |
|
|
|
(264 |
) |
|
|
4,545 |
|
|
|
(118 |
) |
|
|
31,365 |
|
|
|
(382 |
) |
Taxable state and municipal bonds |
|
|
3,982 |
|
|
|
(19 |
) |
|
|
3,240 |
|
|
|
(51 |
) |
|
|
7,222 |
|
|
|
(70 |
) |
Corporate bonds and other debt securities |
|
|
4,187 |
|
|
|
(13 |
) |
|
|
1,988 |
|
|
|
(17 |
) |
|
|
6,175 |
|
|
|
(30 |
) |
Other equity securities |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Total temporarily impaired |
|
$ |
51,415 |
|
|
$ |
(341 |
) |
|
$ |
54,855 |
|
|
$ |
(713 |
) |
|
$ |
106,270 |
|
|
$ |
(1,054 |
) |
|