SECURITIES (Tables)
|
6 Months Ended |
Jun. 30, 2015 |
|---|
| 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, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
70,725 |
|
|
|
92 |
|
|
|
(276 |
) |
|
$ |
70,541 |
|
U.S. Agency MBS and CMOs |
|
|
14,808 |
|
|
|
55 |
|
|
|
(89 |
) |
|
|
14,774 |
|
Tax-exempt state and municipal bonds |
|
|
34,903 |
|
|
|
279 |
|
|
|
(285 |
) |
|
|
34,897 |
|
Taxable state and municipal bonds |
|
|
24,148 |
|
|
|
316 |
|
|
|
(39 |
) |
|
|
24,425 |
|
Corporate bonds and other debt securities |
|
|
12,705 |
|
|
|
44 |
|
|
|
(17 |
) |
|
|
12,732 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(3 |
) |
|
|
1,497 |
|
| |
|
$ |
158,789 |
|
|
$ |
786 |
|
|
$ |
(709 |
) |
|
$ |
158,866 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
43,229 |
|
|
$ |
584 |
|
|
$ |
(3 |
) |
|
$ |
43,810 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
13,762 |
|
|
|
34 |
|
|
|
(30 |
) |
|
|
13,766 |
|
Other equity securities |
|
|
1,500 |
|
|
|
2 |
|
|
|
--- |
|
|
|
1,502 |
|
| |
|
$ |
161,781 |
|
|
$ |
926 |
|
|
$ |
(833 |
) |
|
$ |
161,874 |
|
Held to Maturity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
31,585 |
|
|
$ |
64 |
|
|
$ |
(221 |
) |
|
$ |
31,428 |
|
|
| Contractual maturities of debt securities |
Contractual maturities of debt securities at June 30, 2015 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 |
|
$ |
21,004 |
|
|
$ |
21,015 |
|
|
$ |
5,404 |
|
|
$ |
5,448 |
|
Due from one to five years |
|
|
8,312 |
|
|
|
8,481 |
|
|
|
94,430 |
|
|
|
94,614 |
|
Due from five to ten years |
|
|
13,813 |
|
|
|
14,211 |
|
|
|
40,081 |
|
|
|
39,935 |
|
Due after ten years |
|
|
100 |
|
|
|
103 |
|
|
|
17,374 |
|
|
|
17,372 |
|
| |
|
$ |
43,229 |
|
|
$ |
43,810 |
|
|
$ |
157,289 |
|
|
$ |
157,369 |
|
|
| Securities in continuous unrealized loss position |
Securities with unrealized losses at June 30, 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):
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
June 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
28,741 |
|
|
$ |
(109 |
) |
|
$ |
17,751 |
|
|
$ |
(167 |
) |
|
$ |
46,492 |
|
|
$ |
(276 |
) |
U.S. Agency MBS and CMOs |
|
|
8,969 |
|
|
|
(83 |
) |
|
|
985 |
|
|
|
(6 |
) |
|
|
9,954 |
|
|
|
(89 |
) |
Tax-exempt state and municipal bonds |
|
|
14,656 |
|
|
|
(197 |
) |
|
|
1,977 |
|
|
|
(88 |
) |
|
|
16,633 |
|
|
|
(285 |
) |
Taxable state and municipal bonds |
|
|
5,480 |
|
|
|
(28 |
) |
|
|
1,195 |
|
|
|
(14 |
) |
|
|
6,675 |
|
|
|
(42 |
) |
Corporate bonds and other debt securities |
|
|
3,573 |
|
|
|
(13 |
) |
|
|
498 |
|
|
|
(4 |
) |
|
|
4,071 |
|
|
|
(17 |
) |
Other equity securities |
|
|
1,500 |
|
|
|
(3 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,500 |
|
|
|
(3 |
) |
Total temporarily impaired |
|
$ |
62,919 |
|
|
$ |
(433 |
) |
|
$ |
22,406 |
|
|
$ |
(279 |
) |
|
$ |
85,325 |
|
|
$ |
(712 |
) |
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
) |
|