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INVESTMENT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2018
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 March 31, 2018 are summarized as follows:

(in thousands)
 
Amortized
cost
  
Unrealized
gains
  
Unrealized
losses
  
Estimated
fair value
 
             
Investment securities available-for-sale:
            
U.S. Treasury Securities
 
$
25,444
  
$
—
  
$
(219
)
 
$
25,225
 
Securities of U.S. government agencies and corporations
  
35,326
   
—
   
(342
)
  
34,984
 
Obligations of states and political subdivisions
  
21,942
   
137
   
(181
)
  
21,898
 
Collateralized mortgage obligations
  
67,219
   
—
   
(2,338
)
  
64,881
 
Mortgage-backed securities
  
147,983
   
50
   
(3,855
)
  
144,178
 
Total debt securities
 
$
297,914
  
$
187
  
$
(6,935
)
 
$
291,166
 

The amortized cost, unrealized gains and losses and estimated fair values of investments in debt and other securities at December 31, 2017 are summarized as follows:

(in thousands)
 
Amortized
cost
  
Unrealized
gains
  
Unrealized
losses
  
Estimated
fair value
 
             
Investment securities available-for-sale:
            
U.S. Treasury Securities
 
$
18,589
  
$
—
  
$
(125
)
 
$
18,464
 
Securities of U.S. government agencies and corporations
  
21,353
   
—
   
(244
)
  
21,109
 
Obligations of states and political subdivisions
  
23,138
   
216
   
(146
)
  
23,208
 
Collateralized mortgage obligations
  
67,724
   
—
   
(1,641
)
  
66,083
 
Mortgage-backed securities
  
154,143
   
95
   
(2,361
)
  
151,877
 
Total debt securities
 
$
284,947
  
$
311
  
$
(4,517
)
 
$
280,741
 
Amortized Cost and Estimated Fair Value of Debt and Other Securities by Contractual and Expected Maturity
The amortized cost and estimated market value of debt and other securities at March 31, 2018, by contractual and expected maturity, are shown in the following table:

(in thousands)
 
Amortized
cost
  
Estimated
fair value
 
       
Maturity in years:
      
Due in one year or less
 
$
27,624
  
$
27,548
 
Due after one year through five years
  
51,047
   
50,402
 
Due after five years through ten years
  
4,041
   
4,157
 
Due after ten years
  
—
   
—
 
Subtotal
  
82,712
   
82,107
 
MBS & CMO
  
215,202
   
209,059
 
Total
 $
297,914
  $
291,166
 
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 March 31, 2018, follows:

  
Less than 12 months
  
12 months or more
  
Total
 
(in thousands)
 
Fair Value
  
Unrealized
losses
  
Fair Value
  
Unrealized
losses
  
Fair Value
  
Unrealized
losses
 
                   
U.S. Treasury securities
 
$
16,811
  
$
(59
)
 
$
8,414
  
$
(160
)
 
$
25,225
  
$
(219
)
Securities of U.S. government agencies and corporations
  
19,960
   
(119
)
  
15,024
   
(223
)
  
34,984
   
(342
)
Obligations of states and political subdivisions
  
5,610
   
(50
)
  
7,273
   
(131
)
  
12,883
   
(181
)
Collateralized Mortgage obligations
  
28,440
   
(776
)
  
36,441
   
(1,562
)
  
64,881
   
(2,338
)
Mortgage-backed securities
  
48,802
   
(915
)
  
89,836
   
(2,940
)
  
138,638
   
(3,855
)
Total
 
$
119,623
  
$
(1,919
)
 
$
156,988
  
$
(5,016
)
 
$
276,611
  
$
(6,935
)

An analysis of gross unrealized losses of the available-for-sale investment securities portfolio as of December 31, 2017, follows:

  
Less than 12 months
  
12 months or more
  
Total
 
(in thousands)
 
Fair Value
  
Unrealized
losses
  
Fair Value
  
Unrealized
losses
  
Fair Value
  
Unrealized
losses
 
                   
U.S. Treasury Securities
 
$
10,004
  
$
(2
)
 
$
8,460
  
$
(123
)
 
$
18,464
  
$
(125
)
Securities of U.S. government agencies and corporations
  
6,049
   
(50
)
  
15,060
   
(194
)
  
21,109
   
(244
)
Obligations of states and political subdivisions
  
7,677
   
(34
)
  
7,116
   
(112
)
  
14,793
   
(146
)
Collateralized Mortgage obligations
  
31,679
   
(576
)
  
34,404
   
(1,065
)
  
66,083
   
(1,641
)
Mortgage-backed securities
  
62,320
   
(650
)
  
76,478
   
(1,711
)
  
138,798
   
(2,361
)
Total
 
$
117,729
  
$
(1,312
)
 
$
141,518
  
$
(3,205
)
 
$
259,247
  
$
(4,517
)