INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2015

INVESTMENT SECURITIES

Schedule of amortized cost and fair values of investment securities held-to-maturity

Amortized cost and fair values of investment securities held-to-maturity at December 31, 2015, including gross unrealized gains and losses, are summarized as follows:

	Amortized		Unrealized		Unrealized		Fair
(in thousands)	Cost		Gain		Loss		Value
Municipal securities	$	52,859	$	1,699	$	(88)	$	54,470
Total investment securities held-to-maturity	$	52,859	$	1,699	$	(88)	$	54,470

Amortized cost and fair values of investment securities held-to-maturity at December 31, 2014, including gross unrealized gains and losses, are summarized as follows:

	Amortized		Unrealized		Unrealized		Fair
(in thousands)	Cost		Gain		Loss		Value
Municipal securities	$	54,538	$	1,600	$	(267)	$	55,871
Total investment securities held-to-maturity	$	54,538	$	1,600	$	(267)	$	55,871

Schedule of amortized cost and fair values of investment securities available-for-sale

Amortized cost and fair values of investment securities available-for-sale at December 31, 2015 are summarized as follows:

	Amortized		Unrealized		Unrealized		Fair
(in thousands)	Cost		Gain		Loss		Value
U. S. Agency securities	$	29,532	$	—	$	(181)	$	29,351
U.S. Sponsored Mortgage-backed securities		34,246		1		(533)		33,714
Municipal securities		1,775		23		—		1,798
Total debt securities		65,553		24		(714)		64,863
Equity and other securities		5,309		95		(11)		5,393
Total investment securities available-for-sale	$	70,862	$	119	$	(725)	$	70,256

Amortized cost and fair values of investment securities available-for-sale at December 31, 2014 are summarized as follows:

	Amortized		Unrealized		Unrealized		Fair
(in thousands)	Cost		Gain		Loss		Value
U. S. Agency securities	$	37,926	$	73	$	(465)	$	37,534
U.S. Sponsored Mortgage-backed securities		30,293		58		(419)		29,932
Total debt securities		68,219		131		(884)		67,466
Equity and other securities		670		77		—		747
Total investment securities available-for-sale	$	68,889	$	208	$	(884)	$	68,213

Schedule of amortized cost and fair values of debt securities by maturity

	December 31, 2015
	Held to Maturity				Available for sale
	Amortized		Fair		Amortized		Fair
(in thousands)	Cost		Value		Cost		Value
Within one year	$	400	$	402	$	—	$	—
After one year, but within five		5,918		6,082		28,466		28,290
After five years, but within ten		14,196		14,513		5,194		5,157
After ten Years		32,345		33,473		31,893		31,416
Total	$	52,859	$	54,470	$	65,553	$	64,863

Schedule of investments in an unrealized loss position

The following table discloses investments in an unrealized loss position at December 31, 2015:

(in thousands)	Less than 12 months				12 months or more
Description and			Unrealized				Unrealized
number of positions	Fair Value		Loss		Fair Value		Loss
U.S. Agency securities (9)	$	28,351	$	(181)	$	—	$	—
U.S. Sponsored Mortgage-backed securities (19)		20,647		(233)		11,862		(300)
Municipal securities (22)		3,827		(32)		5,559		(56)
Equity and other securities (1)		2,489		(11)		—		—
	$	55,314	$	(457)	$	17,421	$	(356)

The following table discloses investments in an unrealized loss position at December 31, 2014:

(in thousands)	Less than 12 months				12 months or more
Description and			Unrealized				Unrealized
number of positions	Fair Value		Loss		Fair Value		Loss
U.S. Agency securities (9)	$	996	$	(3)	$	26,900	$	(462)
U.S. Sponsored Mortgage-backed securities (8)		678		(3)		14,824		(416)
Municipal securities (42)		528		(3)		16,489		(264)
	$	2,202	$	(9)	$	58,213	$	(1,142)