INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Value of Available-for-Sale Investment Securities

The amortized cost and fair value of available-for-sale investment securities at December 31 are summarized as follows (in thousands):

	Amortized Cost		Unrealized Gains	Unrealized Losses	Fair Value
2014
Investment Securities Available-for-Sale:
U.S. Treasury notes	$	62,406	290	136	62,560
U.S. Agency notes	84,661		188	1,212	83,637
U.S. Agency mortgage-backed securities	37,838		413	219	38,032
Certificates of deposit	3,076		10	—	3,086
Municipal securities:
Non-taxable	75,727		1,972	304	77,395
Taxable	16,005		465	75	16,395
Mutual funds	2,483		—	22	2,461
Trust preferred securities	50		—	—	50
Equity securities	1,415		372	38	1,749
	$	283,661	3,710	2,006	285,365
Investment Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	22,525	108	695	21,938
Taxable	200		—	—	200
	$	22,725	108	695	22,138
2013
Investment Securities Available-for-Sale:
U.S. Treasury notes	$	13,184	—	290	12,894
U.S. Agency notes	110,248		141	3,714	106,675
U.S. Agency mortgage-backed securities	40,602		555	848	40,309
Certificates of deposit	1,492		9	—	1,501
Municipal securities:
Non-taxable	74,185		2,116	968	75,333
Taxable	17,020		503	214	17,309
Mutual funds	2,419		—	39	2,380
Trust preferred securities	149		4	6	147
Equity securities	1,429		329	65	1,693
	$	260,728	3,657	6,144	258,241
Investment Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	15,923	159	285	15,797
Taxable	400		—	1	399
	$	16,323	159	286	16,196

Securities in a Continuous Loss Position

Information concerning securities with gross unrealized losses at December 31, 2014 and 2013, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (in thousands):

	Less Than Twelve Months			Twelve Months or More
	Fair Value		Unrealized Losses	Fair Value	Unrealized Losses
2014
Investment Securities Available-for-Sale:
U.S. Treasury notes	$	9,141	7	8,774	129
U.S. Agency notes	—		—	65,971	1,212
U.S. Agency mortgage-backed securities	3,795		2	11,456	217
Municipal securities:
Non-taxable	7,211		58	11,419	246
Taxable	3,117		15	3,668	60
Mutual funds	281		12	1,190	10
Trust preferred securities	50		—	—	—
Equity securities	197		29	123	9
	$	23,792	123	102,601	1,883
Investment Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	8,152	540	4,200	155
Taxable	—		—	—	—
	$	8,152	540	4,200	155
2013
Investment Securities Available-for-Sale:
U.S. Treasury notes	$	12,894	290	—	—
U.S. Agency notes	89,080		2,880	9,636	834
U.S. Agency mortgage-backed securities	17,557		575	5,130	273
Municipal securities:
Non-taxable	15,641		398	10,751	570
Taxable	4,903		202	1,252	12
Mutual funds	1,380		39	—	—
Trust preferred securities	—		—	93	6
Equity securities	300		44	93	21
	$	141,755	4,428	26,955	1,716
Investment Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	4,890	285	—	—
Taxable	399		1	—	—
	$	5,289	286	—	—

Investments Classified by Contractual Maturity Date

Contractual maturities of investment securities at December 31, 2014 were as follows (in thousands).  Actual maturities may differ from contractual maturities when issuers have the right to call or prepay obligations.

	Available-for-Sale			Held-to-Maturity
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Due within one year	$	10,961	11,071	2,649	2,661
Due from one to five years	133,901		134,894	3,669	3,665
Due from five to ten years	92,453		92,493	4,175	4,063
Due after ten years	4,560		4,615	12,232	11,749
	241,875		243,073	22,725	22,138
U.S. Agency mortgage-backed securities	37,838		38,032	—	—
Mutual funds	2,483		2,461	—	—
Trust preferred securities	50		50	—	—
Equity securities	1,415		1,749	—	—
	$	283,661	285,365	22,725	22,138

Realized Gain (Loss) on Investment Securities Available-for-Sale

Certain information concerning the sale of investment securities available-for-sale for the years ended December 31 was as follows (in thousands):

	2014		2013	2012
Proceeds from sales	$	67,296	59,284	90,573
Gross realized gains	252		1,234	1,860
Gross realized losses	103		174	7