SECURITIES (Tables)
|
6 Months Ended |
Jun. 30, 2016 |
|---|
| 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, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
82,677 |
|
|
|
443 |
|
|
|
(65 |
) |
|
$ |
83,055 |
|
U.S. Agency MBS and CMOs |
|
|
12,564 |
|
|
|
101 |
|
|
|
(2 |
) |
|
|
12,663 |
|
Tax-exempt state and municipal bonds |
|
|
34,114 |
|
|
|
1,082 |
|
|
|
(3 |
) |
|
|
35,193 |
|
Taxable state and municipal bonds |
|
|
27,850 |
|
|
|
431 |
|
|
|
(12 |
) |
|
|
28,269 |
|
Corporate bonds and other debt securities |
|
|
12,786 |
|
|
|
92 |
|
|
|
(3 |
) |
|
|
12,875 |
|
Other equity securities |
|
|
1,500 |
|
|
|
25 |
|
|
|
--- |
|
|
|
1,525 |
|
| |
|
$ |
171,491 |
|
|
$ |
2,174 |
|
|
$ |
(85 |
) |
|
$ |
173,580 |
|
Held to Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
49,373 |
|
|
$ |
1,430 |
|
|
$ |
--- |
|
|
$ |
50,803 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and federal agency securities |
|
$ |
74,618 |
|
|
|
48 |
|
|
|
(274 |
) |
|
$ |
74,392 |
|
U. S. Agency MBS and CMOs |
|
|
13,828 |
|
|
|
35 |
|
|
|
(108 |
) |
|
|
13,755 |
|
Tax-exempt state and municipal bonds |
|
|
32,943 |
|
|
|
692 |
|
|
|
(37 |
) |
|
|
33,598 |
|
Taxable state and municipal bonds |
|
|
28,554 |
|
|
|
246 |
|
|
|
(37 |
) |
|
|
28,763 |
|
Corporate bonds and other debt securities |
|
|
14,838 |
|
|
|
19 |
|
|
|
(44 |
) |
|
|
14,813 |
|
Other equity securities |
|
|
1,500 |
|
|
|
--- |
|
|
|
(6 |
) |
|
|
1,494 |
|
| |
|
$ |
166,281 |
|
|
$ |
1,040 |
|
|
$ |
(506 |
) |
|
$ |
166,815 |
|
Held to Maturity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-exempt state and municipal bonds |
|
$ |
51,856 |
|
|
$ |
986 |
|
|
$ |
(5 |
) |
|
$ |
52,837 |
|
|
| Contractual Maturities of Debt Securities |
Contractual maturities of debt securities at June 30, 2016 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 |
|
$ |
13,397 |
|
|
$ |
13,421 |
|
|
$ |
10,876 |
|
|
$ |
10,943 |
|
Due from one to five years |
|
|
9,221 |
|
|
|
9,444 |
|
|
|
94,834 |
|
|
|
95,745 |
|
Due from five to ten years |
|
|
14,555 |
|
|
|
15,497 |
|
|
|
51,059 |
|
|
|
52,040 |
|
Due after ten years |
|
|
12,200 |
|
|
|
12,441 |
|
|
|
13,222 |
|
|
|
13,327 |
|
| |
|
$ |
49,373 |
|
|
$ |
50,803 |
|
|
$ |
169,991 |
|
|
$ |
172,055 |
|
|
| Securities in Continuous Unrealized Loss Position |
Securities with unrealized losses at June 30, 2016 and December 31, 2015, 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, 2016 |
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
23,483 |
|
|
$ |
(61 |
) |
|
$ |
3,092 |
|
|
$ |
(4 |
) |
|
$ |
26,575 |
|
|
$ |
(65 |
) |
U.S. Agency MBS and CMOs |
|
|
2,301 |
|
|
|
(1 |
) |
|
|
1,097 |
|
|
|
(1 |
) |
|
|
3,398 |
|
|
|
(2 |
) |
Tax-exempt state and municipal bonds |
|
|
836 |
|
|
|
(3 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
836 |
|
|
|
(3 |
) |
Taxable state and municipal bonds |
|
|
1,488 |
|
|
|
(12 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,488 |
|
|
|
(12 |
) |
Corporate bonds and other debt securities |
|
|
1,416 |
|
|
|
(3 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
1,416 |
|
|
|
(3 |
) |
Other equity securities |
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
Total temporarily impaired |
|
$ |
29,524 |
|
|
$ |
(80 |
) |
|
$ |
4,189 |
|
|
$ |
(5 |
) |
|
$ |
33,713 |
|
|
$ |
(85 |
) |
| |
|
Less than 12 Months |
|
|
12 Months or More |
|
|
Total |
|
|
December 31, 2015
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
|
Fair
Value
|
|
|
Unrealized
Loss
|
|
U.S. Treasury and federal agency securities |
|
$ |
35,090 |
|
|
$ |
(187 |
) |
|
$ |
7,036 |
|
|
$ |
(82 |
) |
|
$ |
42,126 |
|
|
$ |
(269 |
) |
U.S. Agency MBS and CMOs |
|
|
8,842 |
|
|
|
(108 |
) |
|
|
--- |
|
|
|
--- |
|
|
|
8,842 |
|
|
|
(108 |
) |
Tax-exempt state and municipal bonds |
|
|
3,487 |
|
|
|
(9 |
) |
|
|
2,022 |
|
|
|
(33 |
) |
|
|
5,509 |
|
|
|
(42 |
) |
Taxable state and municipal bonds |
|
|
8,158 |
|
|
|
(29 |
) |
|
|
640 |
|
|
|
(8 |
) |
|
|
8,798 |
|
|
|
(37 |
) |
Corporate bonds and other debt securities |
|
|
9,330 |
|
|
|
(47 |
) |
|
|
499 |
|
|
|
(2 |
) |
|
|
9,829 |
|
|
|
(49 |
) |
Other equity securities |
|
|
1,494 |
|
|
|
(6 |
) |
|
|
--- |
|
|
|
|
|
|
|
1,494 |
|
|
|
(6 |
) |
Total temporarily impaired |
|
$ |
66,401 |
|
|
$ |
(386 |
) |
|
$ |
10,197 |
|
|
$ |
(125 |
) |
|
$ |
76,598 |
|
|
$ |
(511 |
) |
|