SECURITIES (Tables)
|
6 Months Ended |
Jun. 30, 2017 |
|---|
| 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, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
85,385 |
|
|
$ |
47 |
|
|
$ |
(694 |
) |
|
$ |
84,738 |
|
U.S. Agency MBS and CMOs |
|
|
11,941 |
|
|
|
15 |
|
|
|
(113 |
) |
|
|
11,843 |
|
Tax-exempt state and municipal bonds |
|
|
39,097 |
|
|
|
696 |
|
|
|
(134 |
) |
|
|
39,659 |
|
Taxable state and municipal bonds |
|
|
35,306 |
|
|
|
78 |
|
|
|
(316 |
) |
|
|
35,068 |
|
Corporate bonds and other debt securities |
|
|
11,983 |
|
|
|
16 |
|
|
|
(25 |
) |
|
|
11,974 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(21 |
) |
|
|
1,479 |
|
| |
|
$ |
185,212 |
|
|
$ |
852 |
|
|
$ |
(1,303 |
) |
|
$ |
184,761 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
68,818 |
|
|
$ |
1,003 |
|
|
$ |
(5 |
) |
|
$ |
69,816 |
|
| |
|
Amortized
Cost
|
|
|
Gross
Unrealized
Gains
|
|
|
Gross
Unrealized
Losses
|
|
|
Fair
Value
|
|
December 31, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
85,582 |
|
|
$ |
49 |
|
|
$ |
(1,281 |
) |
|
$ |
84,350 |
|
U. S. Agency MBS and CMOs |
|
|
12,037 |
|
|
|
11 |
|
|
|
(231 |
) |
|
|
11,817 |
|
Tax-exempt state and municipal bonds |
|
|
39,578 |
|
|
|
212 |
|
|
|
(603 |
) |
|
|
39,187 |
|
Taxable state and municipal bonds |
|
|
34,255 |
|
|
|
65 |
|
|
|
(437 |
) |
|
|
33,883 |
|
Corporate bonds and other debt securities |
|
|
13,765 |
|
|
|
16 |
|
|
|
(55 |
) |
|
|
13,726 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(30 |
) |
|
|
1,470 |
|
| |
|
$ |
186,717 |
|
|
$ |
353 |
|
|
$ |
(2,637 |
) |
|
$ |
184,433 |
|
Held to Maturity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
69,378 |
|
|
$ |
573 |
|
|
$ |
(102 |
) |
|
$ |
69,849 |
|
|
| Contractual Maturities of Debt Securities |
Contractual maturities of debt securities at June 30, 2017 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 |
|
$ |
23,770 |
|
|
$ |
23,820 |
|
|
$ |
19,067 |
|
|
$ |
19,062 |
|
Due from one to five years |
|
|
13,837 |
|
|
|
14,310 |
|
|
|
100,966 |
|
|
|
100,532 |
|
Due from five to ten years |
|
|
10,342 |
|
|
|
10,659 |
|
|
|
49,141 |
|
|
|
49,266 |
|
Due after ten years |
|
|
20,869 |
|
|
|
21,027 |
|
|
|
14,538 |
|
|
|
14,422 |
|
| |
|
$ |
68,818 |
|
|
$ |
69,816 |
|
|
$ |
183,712 |
|
|
$ |
183,282 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at June 30, 2017 and December 31, 2016, 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, 2017 |
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
60,556 |
|
|
$ |
(684 |
) |
|
$ |
3,025 |
|
|
$ |
(9 |
) |
|
$ |
63,581 |
|
|
$ |
(693 |
) |
U.S. Agency MBS and CMOs |
|
|
10,874 |
|
|
|
(113 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
10,874 |
|
|
|
(113 |
) |
Tax-exempt state and municipal bonds |
|
|
8,560 |
|
|
|
(134 |
) |
|
|
385 |
|
|
|
(5 |
) |
|
|
8,945 |
|
|
|
(139 |
) |
Taxable state and municipal bonds |
|
|
20,420 |
|
|
|
(308 |
) |
|
|
237 |
|
|
|
(9 |
) |
|
|
20,657 |
|
|
|
(317 |
) |
Corporate bonds and other debt securities |
|
|
4,264 |
|
|
|
(21 |
) |
|
|
1,000 |
|
|
|
(4 |
) |
|
|
5,264 |
|
|
|
(25 |
) |
Other equity securities |
|
|
1,479 |
|
|
|
(21 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,479 |
|
|
|
(21 |
) |
Total temporarily impaired |
|
$ |
106,153 |
|
|
$ |
(1,281 |
) |
|
$ |
4,647 |
|
|
$ |
(27 |
) |
|
$ |
110,800 |
|
|
$ |
(1,308 |
) |
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
| December 31, 2016 |
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
59,129 |
|
|
$ |
(1,271 |
) |
|
$ |
3,053 |
|
|
$ |
(10 |
) |
|
$ |
62,182 |
|
|
$ |
(1,281 |
) |
U.S. Agency MBS and CMOs |
|
|
10,702 |
|
|
|
(231 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
10,702 |
|
|
|
(231 |
) |
Tax-exempt state and municipal bonds |
|
|
49,508 |
|
|
|
(698 |
) |
|
|
1,672 |
|
|
|
(7 |
) |
|
|
51,180 |
|
|
|
(705 |
) |
Taxable state and municipal bonds |
|
|
22,633 |
|
|
|
(437 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
22,633 |
|
|
|
(437 |
) |
Corporate bonds and other debt securities |
|
|
5,745 |
|
|
|
(50 |
) |
|
|
500 |
|
|
|
(5 |
) |
|
|
6,245 |
|
|
|
(55 |
) |
Other equity securities |
|
|
1,470 |
|
|
|
(30 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,470 |
|
|
|
(30 |
) |
Total temporarily impaired |
|
$ |
149,187 |
|
|
$ |
(2,717 |
) |
|
$ |
5,225 |
|
|
$ |
(22 |
) |
|
$ |
154,412 |
|
|
$ |
(2,739 |
) |
|