SECURITIES (Tables)
|
9 Months Ended |
Sep. 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):
| |
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
| |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
| |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
September 30, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
98,386 |
|
|
$ |
58 |
|
|
$ |
(709 |
) |
|
$ |
97,735 |
|
U.S. Agency MBS and CMOs |
|
|
20,281 |
|
|
|
13 |
|
|
|
(161 |
) |
|
|
20,133 |
|
Tax-exempt state and municipal bonds |
|
|
41,255 |
|
|
|
677 |
|
|
|
(133 |
) |
|
|
41,799 |
|
Taxable state and municipal bonds |
|
|
43,100 |
|
|
|
89 |
|
|
|
(315 |
) |
|
|
42,874 |
|
Corporate bonds and other debt securities |
|
|
10,165 |
|
|
|
16 |
|
|
|
(20 |
) |
|
|
10,161 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(20 |
) |
|
|
1,480 |
|
| |
|
$ |
214,687 |
|
|
$ |
853 |
|
|
$ |
(1,358 |
) |
|
$ |
214,182 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
61,927 |
|
|
$ |
927 |
|
|
$ |
--- |
|
|
$ |
62,854 |
|
| |
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
| |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
| |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
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 September 30, 2017 were as follows (dollars in thousands):
| |
|
Held–to-Maturity Securities |
|
|
Available-for-Sale Securities |
|
| |
|
Amortized |
|
|
Fair |
|
|
Amortized |
|
|
Fair |
|
| |
|
Cost |
|
|
Value |
|
|
Cost |
|
|
Value |
|
Due in one year or less |
|
$ |
14,012 |
|
|
$ |
14,019 |
|
|
$ |
18,486 |
|
|
$ |
18,493 |
|
Due from one to five years |
|
|
13,622 |
|
|
|
14,055 |
|
|
|
115,857 |
|
|
|
115,387 |
|
Due from five to ten years |
|
|
10,687 |
|
|
|
11,019 |
|
|
|
55,693 |
|
|
|
55,805 |
|
Due after ten years |
|
|
23,606 |
|
|
|
23,761 |
|
|
|
23,151 |
|
|
|
23,017 |
|
| |
|
$ |
61,927 |
|
|
$ |
62,854 |
|
|
$ |
213,187 |
|
|
$ |
212,702 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at September 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 |
|
| |
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
September 30, 2017 |
|
Value |
|
|
Loss |
|
|
Value |
|
|
Loss |
|
|
Value |
|
|
Loss |
|
U.S. Treasury and federal agency securities |
|
$ |
60,225 |
|
|
$ |
(472 |
) |
|
$ |
15,497 |
|
|
$ |
(237 |
) |
|
$ |
75,722 |
|
|
$ |
(709 |
) |
U.S. Agency MBS and CMOs |
|
|
16,883 |
|
|
|
(129 |
) |
|
|
1,087 |
|
|
|
(32 |
) |
|
|
17,970 |
|
|
|
(161 |
) |
Tax-exempt state and municipal bonds |
|
|
7,428 |
|
|
|
(79 |
) |
|
|
2,124 |
|
|
|
(54 |
) |
|
|
9,552 |
|
|
|
(133 |
) |
Taxable state and municipal bonds |
|
|
20,469 |
|
|
|
(239 |
) |
|
|
3,199 |
|
|
|
(76 |
) |
|
|
23,668 |
|
|
|
(315 |
) |
Corporate bonds and other debt securities |
|
|
4,269 |
|
|
|
(9 |
) |
|
|
1,507 |
|
|
|
(11 |
) |
|
|
5,776 |
|
|
|
(20 |
) |
Other equity securities |
|
|
1,480 |
|
|
|
(20 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,480 |
|
|
|
(20 |
) |
Total temporarily impaired |
|
$ |
110,754 |
|
|
$ |
(948 |
) |
|
$ |
23,414 |
|
|
$ |
(410 |
) |
|
$ |
134,168 |
|
|
$ |
(1,358 |
) |
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
| |
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
December 31, 2016 |
|
Value |
|
|
Loss |
|
|
Value |
|
|
Loss |
|
|
Value |
|
|
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 |
) |
|