XML 38 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2016
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 June 30, 2016 are summarized as follows:

(in thousands)
 
Amortized cost
  
Unrealized gains
  
Unrealized losses
  
Estimated fair value
 
 
            
Investment securities available-for-sale:
            
U.S. Treasury Securities
 
$
26,274
  
$
194
  
$
—
  
$
26,468
 
Securities of U.S. government agencies and corporations
  
30,634
   
99
   
—
   
30,733
 
Obligations of states and political subdivisions
  
23,466
   
720
   
(5
)
  
24,181
 
Collateralized mortgage obligations
  
18,796
   
154
   
(1
)
  
18,949
 
Mortgage-backed securities
  
134,295
   
856
   
(249
)
  
134,902
 
 
                
Total debt securities
 
$
233,465
  
$
2,023
  
$
(255
)
 
$
235,233
 

The amortized cost, unrealized gains and losses and estimated fair values of investments in debt and other securities at December 31, 2015 are summarized as follows:
 
(in thousands)
 
Amortized
cost
  
Unrealized
gains
  
Unrealized
losses
  
Estimated fair
value
 
 
            
Investment securities available-for-sale:
            
U.S. Treasury Securities
 
$
20,240
  
$
5
  
$
(59
)
 
$
20,186
 
Securities of U.S. government agencies and corporations
  
34,079
   
6
   
(88
)
  
33,997
 
Obligations of states and political subdivisions
  
25,323
   
436
   
(50
)
  
25,709
 
Collateralized mortgage obligations
  
10,994
   
7
   
(69
)
  
10,932
 
Mortgage-backed securities
  
92,465
   
546
   
(484
)
  
92,527
 
 
                
Total debt securities
 
$
183,101
  
$
1,000
  
$
(750
)
 
$
183,351
 
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 June 30, 2016, by contractual and expected maturity, are shown in the following table:

(in thousands)
 
Amortized cost
  
Estimated fair value
 
 
      
Due in one year or less
 
$
29,506
  
$
29,545
 
Due after one year through five years
  
185,786
   
186,977
 
Due after five years through ten years
  
16,951
   
17,372
 
Due after ten years
  
1,222
   
1,339
 
 
        
 
 
$
233,465
  
$
235,233
 
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 June 30, 2016, follows:

 
Less than 12 months
 
12 months or more
 
Total
 
(in thousands)
Fair Value
 
Unrealized
losses
 
Fair Value
 
Unrealized
losses
 
Fair Value
 
Unrealized
losses
 
             
Obligations of states and political subdivisions
 
$
3,400
  
$
(5
)
 
$
—
  
$
—
  
$
3,400
  
$
(5
)
Collateralized Mortgage obligations
  
490
   
(1
)
  
—
   
—
   
490
   
(1
)
Mortgage-backed securities
  
32,802
   
(165
)
  
7,114
   
(84
)
  
39,916
   
(249
)
 
                        
Total
 
$
36,692
  
$
(171
)
 
$
7,114
  
$
(84
)
 
$
43,806
  
$
(255
)

An analysis of gross unrealized losses of the available-for-sale investment securities portfolio as of December 31, 2015, follows:

 
            
 
Less than 12 months
 
12 months or more
 
Total
 
 
Fair Value
 
Unrealized
losses
 
Fair Value
 
Unrealized
losses
 
Fair Value
 
Unrealized
losses
 
 
            
U.S. Treasury Securities
 
$
15,014
  
$
(59
)
 
$
-
  
$
-
  
$
15,014
  
$
(59
)
Securities of U.S. government agencies and corporations
  
7,005
   
(32
)
  
4,047
   
(56
)
  
11,052
   
(88
)
Obligations of states and political subdivisions
  
7,107
   
(50
)
  
—
   
—
   
7,107
   
(50
)
Collateralized Mortgage obligations
  
9,982
   
(69
)
  
—
   
—
   
9,982
   
(69
)
Mortgage-backed securities
  
44,933
   
(372
)
  
5,838
   
(112
)
  
50,771
   
(484
)
 
                        
Total
 
$
84,041
  
$
(582
)
 
$
9,885
  
$
(168
)
 
$
93,926
  
$
(750
)