XML 23 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2014
INVESTMENT SECURITIES [Abstract]  
Amortized cost, unrealized gains and losses and estimated fair values of investments in debt and other securities
The amortized cost, unrealized gains and losses and estimated fair values of investments in debt and other securities at September 30, 2014 are summarized as follows:
 
(in thousands)
 
Amortized cost
  
Unrealized gains
  
Unrealized losses
  
Estimated fair value
 
         
Investment securities available-for-sale:
        
Securities of U.S. government agencies and corporations
 
$
35,299
  
$
7
  
$
(530
)
 
$
34,776
 
Obligations of states and political subdivisions
  
20,993
   
520
   
(78
)
  
21,435
 
Collateralized mortgage obligations
  
10,096
   
42
   
(23
)
  
10,115
 
Mortgage-backed securities
  
76,716
   
944
   
(197
)
  
77,463
 
                 
Total debt securities
 
$
143,104
  
$
1,513
  
$
(828
)
 
$
143,789
 

The amortized cost, unrealized gains and losses and estimated fair values of investments in debt and other securities at December 31, 2013 are summarized as follows:
 
(in thousands)
 
Amortized cost
  
Unrealized gains
  
Unrealized losses
  
Estimated fair value
 
         
Investment securities available-for-sale:
        
Securities of U.S. government agencies and corporations
 
$
53,960
  
$
8
  
$
(1,283)­­­  
$
52,685
 
Obligations of states and political subdivisions
  
27,528
   
409
   
(550
)
  
27,387
 
Collateralized mortgage obligations
  
5,359
   
46
   
—
   
5,405
 
Mortgage-backed securities
  
87,486
   
718
   
(412
)
  
87,792
 
                 
Total debt securities
 
$
174,333
  
$
1,181
  
$
(2,245
)
 
$
173,269
 
Amortized cost and estimated fair value of debt and other securities by contractual maturity
The amortized cost and estimated market value of debt and other securities at September 30, 2014, by contractual and expected maturity, are shown in the following table:
 
(in thousands)
 
Amortized
cost
  
Estimated fair value
 
     
Due in one year or less
 
$
7,688
  
$
7,695
 
Due after one year through five years
  
109,683
   
110,167
 
Due after five years through ten years
  
23,796
   
23,893
 
Due after ten years
  
1,937
   
2,034
 
         
  
$
143,104
  
$
143,789
 
Analysis of gross unrealized losses of the available-for-sale investment securities portfolio
An analysis of gross unrealized losses of the available-for-sale investment securities portfolio as of September 30, 2014, follows:
 
  
Less than 12 months
  
12 months or more
  
Total
 
(in thousands)
 
Fair Value
  
Unrealized losses
  
Fair Value
  
Unrealized losses
  
Fair Value
  
Unrealized losses
 
             
Securities of U.S. government agencies and corporations
 
$
4,629
  
$
(6
)
 
$
21,574
  
$
(524
)
 
$
26,203
  
$
(530
)
Obligations of states and political subdivisions
  
1,588
   
(27
)
  
4,790
   
(51
)
  
6,378
   
(78
)
Collateralized Mortgage obligations
  
4,048
   
(23
)
  
—
   
—
   
4,048
   
(23
)
Mortgaged-backed securities
  
3,703
   
(12
)
  
11,130
   
(185
)
  
14,833
   
(197
)
                         
Total
 
$
13,968
  
$
(68
)
 
$
37,494
  
$
(760
)
 
$
51,462
  
$
(828
)
 
An analysis of gross unrealized losses of the available-for-sale investment securities portfolio as of December 31, 2013, follows:
 
             
  
Less than 12 months
  
12 months or more
  
Total
 
  
Fair Value
  
Unrealized losses
  
Fair Value
  
Unrealized losses
  
Fair Value
  
Unrealized losses
 
             
Securities of U.S. government agencies and corporations
 
$
46,654
  
$
(1,283
)
 
$
—
  
$
—
  
$
46,654
  
$
(1,283
)
Obligations of states and political subdivisions
  
11,871
   
(550
)
  
—
   
—
   
11,871
   
(550
)
Collateralized Mortgage obligations
  
—
   
—
   
—
   
—
   
—
   
—
 
Mortgage-backed securities
  
19,155
   
(243
)
  
6,932
   
(169
)
  
26,087
   
(412
)
                         
Total
 
$
77,680
  
$
(2,076
)
 
$
6,932
  
$
(169
)
 
$
84,612
  
$
(2,245
)