Investment Securities (Tables)

12 Months Ended

Dec. 31, 2015

Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-For-Sale

The amortized cost, fair values, and unrealized gains and losses of the securities available-for-sale are as follows:

(in thousands)

	Amortized		Gross Unrealized				Fair/Book
December 31, 2015	Cost		Gains		Losses		Value
Government Agency & Government-Sponsored Entities	$	33,536	$	134	$	419	$	33,251
US Treasury Notes		73,048		-		164		72,884
Mortgage Backed Securities⁽¹⁾		261,016		2,708		1,231		262,493
Other		509		-		-		509
Total	$	368,109	$	2,842	$	1,814	$	369,137

	Amortized		Gross Unrealized				Fair/Book
December 31, 2014	Cost		Gains		Losses		Value
Government Agency & Government-Sponsored Entities	$	78,051	$	61	$	3	$	78,109
Mortgage Backed Securities⁽¹⁾		283,636		4,969		657		287,948
Other		485		-		-		485
Total	$	362,172	$	5,030	$	660	$	366,542

⁽¹⁾All Mortgage Backed Securities were issued by an agency or government sponsored entity of the U.S. government.

Book Values, Estimated Fair Values and Unrealized Gains and Losses of Investments Classified as Held-To-Maturity

The book values, estimated fair values and unrealized gains and losses of investments classified as held-to-maturity are as follows: (in thousands)

	Book		Gross Unrealized				Fair
December 31, 2015	Value		Gains		Losses		Value
Obligations of States and Political Subdivisions	$	61,396	$	993	$	1	$	62,388
Total	$	61,396	$	993	$	1	$	62,388

	Book		Gross Unrealized				Fair
December 31, 2014	Value		Gains		Losses		Value
Obligations of States and Political Subdivisions	$	61,716	$	782	$	10	$	62,488
Other		2,147		-		-		2,147
Total	$	63,863	$	782	$	10	$	64,635

Amortized Cost and Estimated Fair Values of Investment Securities by Contractual Maturity

The amortized cost and estimated fair values of investment securities at December 31, 2015 by contractual maturity are shown in the following tables. (in thousands)

	Available-for-Sale				Held-to-Maturity
December 31, 2015	Amortized Cost		Fair/Book Value		Book Value		Fair Value
Within One Year	$	28,507	$	28,507	$	-	$	-
After One Year Through Five Years		78,586		78,137		12,793		12,853
After Five Years Through Ten Years		-		-		10,211		10,343
After Ten Years		-		-		38,392		39,192
		107,093		106,644		61,396		62,388

Investment Securities Not Due at a Single Maturity Date:
Mortgage Backed Securities		261,016		262,493		-		-
Total	$	368,109	$	369,137	$	61,396	$	62,388

Investments with Gross Unrealized Losses and Market Value Aggregated by Investment Category and Length of Time That Individual Securities Have Been In a Continuous Unrealized Loss Position

The following tables show those investments with gross unrealized losses and their market value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at the dates indicated. (in thousands)

	Less Than 12 Months				12 Months or More				Total
December 31, 2015	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss

Securities Available-for-Sale
Government Agency & Government-Sponsored Entities	$	29,944	$	419	$	-	$	-	$	29,944	$	419
US Treasury Notes		44,887		164		-		-		44,887		164
Mortgage Backed Securities		78,899		1,089		7,277		142		86,176		1,231
Total	$	153,730	$	1,672	$	7,277	$	142	$	161,007	$	1,814

Securities Held-to-Maturity
Obligations of States and Political Subdivisions	$	839	$	1	$	-	$	-	$	839	$	1
Total	$	839	$	1	$	-	$	-	$	839	$	1

	Less Than 12 Months				12 Months or More				Total
December 31, 2014	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss

Securities Available-for-Sale
Government Agency & Government-Sponsored Entities	$	66,980	$	3	$	-	$	-	$	66,980	$	3
Mortgage Backed Securities		14,487		151		33,574		506		48,061		657
Total	$	81,467	$	154	$	33,574	$	506	$	115,041	$	660

Securities Held-to-Maturity
Obligations of States and Political Subdivisions	$	849	$	5	$	876	$	5	$	1,725	$	10
Total	$	849	$	5	$	876	$	5	$	1,725	$	10

Proceeds from Sales and Calls of Securities

Proceeds from sales and calls of securities were as follows:

(in thousands)	Gross Proceeds		Gross Gains		Gross Losses
2015	$	61,335	$	275	$	-
2014	$	130,174	$	1,204	$	1,114
2013	$	81,390	$	1,208	$	1,437

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

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