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INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 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
 
$
30,433
  
$
—
  
$
(242
)
 
$
30,191
 
Securities of U.S. government agencies and corporations
  
38,318
   
—
   
(360
)
  
37,958
 
Obligations of states and political subdivisions
  
18,414
   
124
   
(167
)
  
18,371
 
Collateralized mortgage obligations
  
66,296
   
—
   
(2,659
)
  
63,637
 
Mortgage-backed securities
  
140,052
   
33
   
(4,333
)
  
135,752
 
 
                
Total debt securities
 
$
293,513
  
$
157
  
$
(7,761
)
 
$
285,909
 

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 June 30, 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
 
$
36,120
  
$
36,000
 
Due after one year through five years
  
47,010
   
46,380
 
Due after five years through ten years
  
4,035
   
4,140
 
Subtotal 
  
87,165
   
86,520
 
MBS & CMO
  
206,348
   
199,389
 
Total
 
$
293,513
  
$
285,909
 
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, 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
 
$
21,788
  
$
(80
)
 
$
8,403
  
$
(162
)
 
$
30,191
  
$
(242
)
Securities of U.S. government agencies and corporations
  
20,841
   
(132
)
  
17,117
   
(228
)
  
37,958
   
(360
)
Obligations of states and political subdivisions
  
6,179
   
(54
)
  
6,075
   
(113
)
  
12,254
   
(167
)
Collateralized mortgage obligations
  
19,502
   
(576
)
  
44,135
   
(2,083
)
  
63,637
   
(2,659
)
Mortgage-backed securities
  
45,840
   
(1,120
)
  
84,797
   
(3,213
)
  
130,637
   
(4,333
)
 
                        
Total
 
$
114,150
  
$
(1,962
)
 
$
160,527
  
$
(5,799
)
 
$
274,677
  
$
(7,761
)

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
 
 
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
)