Annual report pursuant to Section 13 and 15(d)

SECURITIES (Tables)

v3.10.0.1
SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2018
SECURITIES [Abstract]  
Amortized Cost and Fair Value of Securities
The amortized cost and fair value of securities were as follows (dollars in thousands):

   
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair
Value
  
December 31, 2018
                        
Available for Sale:
                        
U.S. Treasury and federal agency securities
  
$
97,102
    
$
6
    
$
(1,710
)
  
$
95,398
  
U.S. Agency MBS and CMOs
    
33,287
      
97
      
(494
)
    
32,890
  
Tax-exempt state and municipal bonds
    
45,212
      
246
      
(331
)
    
45,127
  
Taxable state and municipal bonds
    
46,565
      
59
      
(690
)
    
45,934
  
Corporate bonds and other debt securities
    
7,703
      
2
      
(68
)
    
7,637
  
   
$
229,869
    
$
410
    
$
(3,293
)
  
$
226,986
  
Held to Maturity
                                
Tax-exempt state and municipal bonds
  
$
70,334
    
$
1,488
    
$
(317
)
  
$
71,505
  
                                 
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 December 31, 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
  
$
8,337
    
$
8,363
    
$
24,685
    
$
24,549
  
Due from one to five years
    
28,588
      
29,008
      
134,460
      
132,314
  
Due from five to ten years
    
13,769
      
13,789
      
38,390
      
38,188
  
Due after ten years
    
19,640
      
20,345
      
32,334
      
31,935
  
   
$
70,334
    
$
71,505
    
$
229,869
    
$
226,986
  
Securities in Continuous Unrealized Loss Position
Securities with unrealized losses at December 31, 2018 and 2017, 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
  
December 31, 2018
  
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
Available for Sale:
                                                
U.S. Treasury and federal agency securities
  
$
1,974
    
$
(26
)
  
$
82,895
    
$
(1,622
)
  
$
84,869
    
$
(1,648
)
U.S. Agency MBS and CMOs
    
1,728
      
(13
)
    
18,712
      
(481
)
    
20,440
      
(494
)
Tax-exempt state and municipal bonds
    
8,987
      
(69
)
    
10,785
      
(262
)
    
19,772
      
(331
)
Taxable state and municipal bonds
    
4,035
      
(19
)
    
37,021
      
(671
)
    
41,056
      
(690
)
Corporate bonds and other debt securities
    
2,698
      
(12
)
    
8,170
      
(118
)
    
10,868
      
(130
)
Total
  
$
19,422
    
$
(135
)
  
$
157,583
    
$
(3,154
)
  
$
177,005
    
$
(3,293
)
                                                 
Held to Maturity:
                                                
Tax-exempt state and municipal bonds
   $ 8,533
    $
 (76
 )
  $
4,683
     $ (241
 )
  $ 13,216
     $ (317
 )

   
Less than 12 Months
    
12 Months or More
    
Total
  
December 31, 2017
  
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
    
Fair
Value
    
Unrealized
Loss
  
Available for Sale:
                                                
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
    
27,576
      
(62
)
    
4,208
      
(82
)
    
11,784
      
(144
)
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
  
$
113,261
    
$
(1,071
)
  
$
67,724
    
$
(1,452
)
  
$
180,985
    
$
(2,523
)
                                                 
Held to Maturity:                                                
Tax-exempt state and municipal bonds
   $ 12,548
    $ (181
 )
  $ —     $ —     $ 12,548     $ (181
 )