SECURITIES (Tables)
|
9 Months Ended |
Sep. 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
|
|
September 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
71,594 |
|
|
|
231 |
|
|
|
(42 |
) |
|
$ |
71,783 |
|
U.S. Agency MBS and CMOs |
|
|
13,874 |
|
|
|
88 |
|
|
|
(27 |
) |
|
|
13,935 |
|
Tax-exempt state and municipal bonds |
|
|
34,698 |
|
|
|
423 |
|
|
|
(117 |
) |
|
|
35,004 |
|
Taxable state and municipal bonds |
|
|
25,015 |
|
|
|
374 |
|
|
|
(3 |
) |
|
|
25,386 |
|
Corporate bonds and other debt securities |
|
|
13,868 |
|
|
|
40 |
|
|
|
(12 |
) |
|
|
13,896 |
|
Other equity securities |
|
|
1,500 |
|
|
|
11 |
|
|
|
--- |
|
|
|
1,511 |
|
| |
|
$ |
160,549 |
|
|
$ |
1,167 |
|
|
$ |
(201 |
) |
|
$ |
161,515 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
40,434 |
|
|
$ |
1,190 |
|
|
$ |
--- |
|
|
$ |
41,624 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 September 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 |
|
$ |
13,156 |
|
|
$ |
13,221 |
|
|
$ |
7,195 |
|
|
$ |
7,235 |
|
Due from one to five years |
|
|
9,769 |
|
|
|
9,982 |
|
|
|
98,012 |
|
|
|
98,565 |
|
Due from five to ten years |
|
|
15,319 |
|
|
|
16,098 |
|
|
|
38,039 |
|
|
|
38,308 |
|
Due after ten years |
|
|
2,190 |
|
|
|
2,323 |
|
|
|
15,803 |
|
|
|
15,896 |
|
| |
|
$ |
40,434 |
|
|
$ |
41,624 |
|
|
$ |
159,049 |
|
|
$ |
160,004 |
|
|
| Securities in continuous unrealized loss position |
Securities with unrealized losses at September 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 |
|
|
September 30, 2015
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
12,994 |
|
|
$ |
(6 |
) |
|
$ |
9,795 |
|
|
$ |
(36 |
) |
|
$ |
22,789 |
|
|
$ |
(42 |
) |
U.S. Agency MBS and CMOs |
|
|
5,837 |
|
|
|
(27 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
5,837 |
|
|
|
(27 |
) |
Tax-exempt state and municipal bonds |
|
|
7,271 |
|
|
|
(50 |
) |
|
|
1,993 |
|
|
|
(67 |
) |
|
|
9,264 |
|
|
|
(117 |
) |
Taxable state and municipal bonds |
|
|
--- |
|
|
|
--- |
|
|
|
648 |
|
|
|
(3 |
) |
|
|
648 |
|
|
|
(3 |
) |
Corporate bonds and other debt securities |
|
|
3,851 |
|
|
|
(8 |
) |
|
|
498 |
|
|
|
(4 |
) |
|
|
4,349 |
|
|
|
(12 |
) |
Other equity securities |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Total temporarily impaired |
|
$ |
29,953 |
|
|
$ |
(91 |
) |
|
$ |
12,934 |
|
|
$ |
(110 |
) |
|
$ |
42,887 |
|
|
$ |
(201 |
) |
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
|
December 31, 2014
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
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 |
) |
|