Investment Securities (Tables)

6 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Available-for-sale Securities

Amortized cost, carrying value, gross unrealized gains and losses, and the fair value by security type are as follows:

(Dollars in thousands)
June 30, 2016	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale
U. S. Treasury securities and obligations of U.S. Government sponsored corporations (“GSE”) and agencies	$	5,519	$	39	$	—		$	5,558
Residential collateralized mortgage obligations- GSE	17,685		181		(34		)	17,832
Residential mortgage backed securities – GSE	34,912		888		(21		)	35,779
Obligations of state and political subdivisions	20,966		706		—			21,672
Trust preferred debt securities – single issuer	2,476		—		(388		)	2,088
Corporate debt securities	27,334		288		(179		)	27,443
Other debt securities	975		—		(20		)	955
	$	109,867	$	2,102	$	(642	)	$	111,327

December 31, 2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
(Dollars in thousands)
Available for sale-
U. S. Treasury securities and obligations of U.S. Government sponsored corporations ("GSE") and agencies	$	5,523	$	—	$	(42	)	$	5,481
Residential collateralized mortgage obligations- GSE	8,255		68		(36		)	8,287
Residential mortgage backed securities - GSE	32,279		541		(185		)	32,635
Obligations of state and political subdivisions	21,125		365		(54		)	21,436
Trust preferred debt securities-single issuer	2,474		—		(338		)	2,136
Corporate debt securities	20,510		65		(153		)	20,422
Other debt securities	1,053		—		(28		)	1,025
	$	91,219	$	1,039	$	(836	)	$	91,422

Held-to-maturity Securities

December 31, 2015	Amortized Cost		Other-Than- Temporary Impairment Recognized In Accumulated Other Comprehensive Loss			Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Held to maturity-
Residential collateralized mortgage obligations-GSE	13,630		—			13,630		404		—			14,034
Residential mortgage backed securities - GSE	47,718		—			47,718		928		(46		)	48,600
Obligations of state and political subdivisions	61,135		—			61,135		2,294		(14		)	63,415
Trust preferred debt securities - pooled	657		(501		)	156		341		—			497
Other debt securities	622		—			622		—		(11		)	611
	$	123,762	$	(501	)	$	123,261	$	3,967	$	(71	)	$	127,157

June 30, 2016	Amortized Cost		Other-Than- Temporary Impairment Recognized In Accumulated Other Comprehensive Loss			Carrying Value		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Held to maturity-
U. S. Treasury securities and obligations of U.S. Government sponsored corporations (“GSE”) and agencies	4,082		—			4,082		31		—			4,113
Residential collateralized mortgage obligations – GSE	14,254		—			14,254		509		—			14,763
Residential mortgage backed securities – GSE	45,118		—			45,118		1,750		—			46,868
Obligations of state and political subdivisions	58,485		—			58,485		2,707		(1		)	61,191
Trust preferred debt securities-pooled	656		(501		)	155		272		—			427
Other debt securities	541		—			541		—		(4		)	537
	$	123,136	$	(501	)	$	122,635	$	5,269	$	(5	)	$	127,899

Investment Securities, Continuous Unrealized Loss Position, Fair Value

Gross unrealized losses on available for sale and held to maturity securities and the fair value of the related securities aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2016 and December 31, 2015 were as follows:

June 30, 2016		Less than 12 months					12 months or longer					Total
(Dollars in thousands)	Number of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury securities and obligations of U.S.       Government sponsored corporations (GSE) and    agencies	—	$	—	$	—		$	—	$	—		$	—	$	—
Residential collateralized mortgage obligations –GSE	2	5,407		(34		)	—		—			5,407		(34		)
Residential mortgage backed securities-GSE	3	—		—			3,593		(21		)	3,593		(21		)
Obligations of state and political subdivisions	4	1,396		(1		)	—		—			1,396		(1		)
Trust preferred debt securities- single issuer	4	—		—			2,088		(388		)	2,088		(388		)
Corporate debt securities	5	5,178		(87		)	6,967		(92		)	12,145		(179		)
Other debt securities	3	—		—			1,468		(24		)	1,468		(24		)
Total temporarily impaired securities	21	$	11,981	$	(122	)	$	14,116	$	(525	)	$	26,097	$	(647	)

December 31, 2015		Less than 12 months					12 months or longer					Total
(Dollars in thousands)	Number of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury securities and obligations of U.S.       Government sponsored corporations (GSE) and    agencies	3	$	5,481	$	(42	)	$	—	$	—		$	5,481	$	(42	)
Residential collateralized mortgage obligations –GSE	2	5,894		(36		)	—		—			5,894		(36		)
Residential mortgage backed securities - GSE	19	20,911		(175		)	3,980		(56		)	24,891		(231		)
Obligations of state and political subdivisions	32	2,760		(19		)	6,465		(49		)	9,225		(68		)
Trust preferred debt securities- single issuer	4	—		—			2,136		(338		)	2,136		(338		)
Corporate debt securities	4	9,214		(153		)	—		—			9,214		(153		)
Other debt securities	3	586		(11		)	1,025		(28		)	1,611		(39		)
Total temporarily impaired securities	67	$	44,846	$	(436	)	$	13,606	$	(471	)	$	58,452	$	(907	)

Investments Classified by Contractual Maturity Date

The following table sets forth certain information regarding the amortized cost, carrying value, fair value, weighted average yields and contractual maturities of the Company’s investment portfolio as of June 30, 2016.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  

(Dollars in thousands)	June 30, 2016
	Amortized Cost		Fair Value		Yield
Available for sale
Due in one year or less	$	8,817	$	8,855	2.57%
Due after one year through five years	16,106		16,239		1.75%
Due after five years through ten years	43,248		44,307		2.61%
Due after ten years	41,696		41,926		2.64%
Total	$	109,867	$	111,327	2.48%
	Carrying Value		Fair Value		Yield
Held to maturity
Due in one year or less	$	15,974	$	15,991	1.16%
Due after one year through five years	16,076		16,806		4.15%
Due after five years through ten years	27,633		29,203		3.58%
Due after ten years	62,952		65,899		3.29%
Total	$	122,635	$	127,899	3.21%