INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2016

INVESTMENTS

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

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 March 31, 2016 are summarized as follows:

	Amortized		Unrealized		Unrealized		Fair
(in thousands)	Cost		Gain		Loss		Value
U.S. Agency securities	$	34,480	$	47	$	(77)	$	34,450
U.S. Sponsored Mortgage-backed securities		33,655		34		(356)		33,333
Municipal securities		59,739		1,638		(110)		61,267
Total debt securities		127,874		1,719		(543)		129,050
Equity and other securities		5,693		87		(5)		5,775
Total investment securities available-for-sale	$	133,567	$	1,806	$	(548)	$	134,825

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

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

The following tables summarize amortized cost and fair values of debt securities by maturity at March 31, 2016:

	Available for sale
	Amortized		Fair
	Cost		Value
Within one year	$	1,507	$	1,513
After one year, but within five		27,204		27,345
After five years, but within ten		15,112		15,401
After ten years		84,051		84,791
Total	$	127,874	$	129,050

Schedule of investments in an unrealized loss position

The following table discloses investments in an unrealized loss position at March 31, 2016:

Description and number of positions	Less than 12 months				12 months or more
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Agency securities (9)	$	23,224	$	(77)	$	—	$	—
U.S. Sponsored Mortgage-backed securities (14)		6,019		(11)		20,355		(345)
Municipal securities (21)		11,439		(110)		—		—
Equity and other securities (1)		995		(5)		—		—
	$	41,677	$	(203)	$	20,355	$	(345)

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

Description and number of positions	Less than 12 months				12 months or more
(in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized 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)