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INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2015
INVESTMENT SECURITIES [Abstract]  
Available-For-Sale Securities
The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolio as of September 30, 2015 and December 31, 2014 and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income (loss):

(dollars in thousands)
 
Amortized
Cost
  
Unrealized
Gains
  
Unrealized
 Losses
  
Fair Value
 
September 30, 2015
        
Available-for-sale:
        
U.S. government-sponsored entities and agencies
 
$
6,878
  
$
146
  
$
(10
)
 
$
7,014
 
State and political subdivisions
  
5,267
   
341
   
-
   
5,608
 
Mortgage-backed securities - residential
  
26,197
   
874
   
(34
)
  
27,037
 
Collateralized mortgage obligations
  
25,233
   
115
   
(200
)
  
25,148
 
Corporate bonds
  
2,516
   
52
   
-
   
2,568
 
Total
 
$
66,091
  
$
1,528
  
$
(244
)
 
$
67,375
 

  
Amortized
Cost
  
Unrealized
 Gains
  
Unrealized
Losses
  
Fair Value
 
December 31, 2014
        
Available-for-sale:
        
U.S. government-sponsored entities and agencies
 
$
7,019
  
$
161
  
$
(23
)
 
$
7,157
 
State and political subdivisions
  
6,535
   
525
   
-
   
7,060
 
Mortgage-backed securities - residential
  
30,454
   
928
   
(22
)
  
31,360
 
Collateralized mortgage obligations
  
29,306
   
94
   
(438
)
  
28,962
 
Corporate bonds
  
3,025
   
69
   
-
   
3,094
 
Total
 
$
76,339
  
$
1,777
  
$
(483
)
 
$
77,633
 
Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Maturity
The amortized cost and fair value of the investment securities portfolio are presented below in order of contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities – residential and collateralized mortgage obligations, are shown separately.
 
(dollars in thousands)
September 30, 2015
 
Amortized
Cost
  
Fair
Value
 
Available-for-sale:
    
Within one year
 
$
503
  
$
509
 
One to five years
  
1,988
   
2,027
 
Five to ten years
  
4,253
   
4,330
 
Beyond ten years
  
7,917
   
8,324
 
Mortgage-backed securities – residential
  
26,197
   
27,037
 
Collateralized mortgage obligations
  
25,233
   
25,148
 
Total
 
$
66,091
  
$
67,375
 
Summary of Investment Securities with Unrealized Losses
The following table summarizes the investment securities with unrealized losses as of September 30, 2015 and December 31, 2014 listed by aggregated major security type and length of time in a continuous unrealized loss position:
 
  
Less Than 12 Months
  
12 Months or Longer
  
Total
 
(dollars in thousands)
September 30, 2015
 
Fair
Value
  
Unrealized
losses
  
Fair
Value
  
Unrealized
 losses
  
Fair
Value
  
Unrealized
losses
 
Available-for-sale:
            
U.S. government-sponsored entities and agencies
 
$
595
  
$
(5
)
 
$
996
  
$
(5
)
 
$
1,591
  
$
(10
)
State and political subdivisions
  
-
   
-
   
-
   
-
   
-
   
-
 
Mortgage backed securities – residential
  
1,424
   
(22
)
  
1,172
   
(12
)
  
2,596
   
(34
)
Collateralized mortgage obligations
  
4,140
   
(17
)
  
6,802
   
(184
)
  
10,942
   
(201
)
Corporate bonds
  
-
   
-
   
-
   
-
   
-
   
-
 
Total available-for-sale securities
 
$
6,159
  
$
(44
)
 
$
8,970
  
$
(201
)
 
$
15,129
  
$
(245
)

  
Less Than 12 Months
  
12 Months or Longer
  
Total
 
December 31, 2014
 
Fair
Value
  
Unrealized
losses
  
Fair
Value
  
Unrealized
 losses
  
Fair
Value
  
Unrealized
 losses
 
Available-for-sale:
            
U.S. government-sponsored entities and agencies
 
$
-
  
$
-
  
$
977
  
$
(23
)
 
$
977
  
$
(23
)
State and political subdivisions
  
-
   
-
   
-
   
-
   
-
   
-
 
Mortgage backed securities – residential
  
1,849
   
(1
)
  
1,192
   
(21
)
  
3,041
   
(22
)
Collateralized mortgage obligations
  
6,599
   
(40
)
  
11,258
   
(398
)
  
17,857
   
(438
)
Corporate bonds
  
-
   
-
   
-
   
-
   
-
   
-
 
Total available-for-sale securities
 
$
8,448
  
$
(41
)
 
$
13,427
  
$
(442
)
 
$
21,875
  
$
(483
)