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INVESTMENT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
The following table summarizes the amortized cost and fair value of the investment securities and the corresponding amounts of unrealized gains and losses therein as of March 31, 2015 and December 31, 2014:
 
 
 
Amortized
 
 
Unrealized 
 
 
Unrealized 
 
 
Fair
 
 
Carrying
 
 
 
Cost
 
 
Gains
 
 
Losses
 
 
Value
 
 
Amount
 
 
 
(Dollars in Thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government – sponsored enterprises
 
$
5,000
 
 
$
-
 
 
$
(118)
 
 
$
4,882
 
 
$
4,882
 
State and municipal
 
 
5,066
 
 
 
62
 
 
 
(1)
 
 
 
5,127
 
 
 
5,127
 
Mortgage-backed securities – residential
 
 
96,696
 
 
 
140
 
 
 
(900)
 
 
 
95,936
 
 
 
95,936
 
Collateralized mortgage obligations – U.S. Government
 
 
10,235
 
 
 
-
 
 
 
(289)
 
 
 
9,946
 
 
 
9,946
 
Total securities available-for-sale
 
 
116,997
 
 
 
202
 
 
 
(1,308)
 
 
 
115,891
 
 
 
115,891
 
Securities held-to-maturity (1):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities – residential
 
 
17,517
 
 
 
-
 
 
 
(39)
 
 
 
17,478
 
 
 
17,517
 
Total securities held-to-maturity
 
 
17,517
 
 
 
-
 
 
 
(39)
 
 
 
17,478
 
 
 
17,517
 
Total investment securities
 
$
134,514
 
 
$
202
 
 
$
(1,347)
 
 
$
133,369
 
 
$
133,408
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government – sponsored enterprises
 
$
5,000
 
 
$
-
 
 
$
(262)
 
 
$
4,738
 
 
$
4,738
 
State and municipal
 
 
5,071
 
 
 
20
 
 
 
(8)
 
 
 
5,083
 
 
 
5,083
 
Mortgage-backed securities – residential
 
 
99,861
 
 
 
28
 
 
 
(1,375)
 
 
 
98,514
 
 
 
98,514
 
Collateralized mortgage obligations – U.S. Government
 
 
10,776
 
 
 
-
 
 
 
(412)
 
 
 
10,364
 
 
 
10,364
 
Total securities available-for-sale
 
 
120,708
 
 
 
48
 
 
 
(2,057)
 
 
 
118,699
 
 
 
118,699
 
Securities held-to-maturity (1):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities – residential
 
 
17,919
 
 
 
-
 
 
 
(33)
 
 
 
17,886
 
 
 
17,919
 
Total securities held-to-maturity
 
 
17,919
 
 
 
-
 
 
 
(33)
 
 
 
17,886
 
 
 
17,919
 
Total investment securities
 
$
138,627
 
 
$
48
 
 
$
(2,090)
 
 
$
136,585
 
 
$
136,618
 
____________
(1)
Investment securities held-to-maturity are carried at amortized cost.
Investments Classified by Contractual Maturity Date [Table Text Block]
The amortized cost and fair value of investment securities, both available-for-sale and held-to-maturity, segregated by contractual maturity as of March 31, 2015, are shown below:
 
 
 
Amortized Cost
 
 
Fair Value
 
 
 
(Dollars in Thousands)
 
Due in one year or less
 
$
-
 
 
$
-
 
Due from more than one to five years
 
 
-
 
 
 
-
 
Due from more than five to ten years
 
 
3,240
 
 
 
3,277
 
Due after ten years
 
 
1,826
 
 
 
1,850
 
U.S. Government-sponsored enterprises
 
 
5,000
 
 
 
4,882
 
Mortgage-backed securities – residential (1)
 
 
114,213
 
 
 
113,414
 
Collateralized mortgage obligations – U.S. Government
 
 
10,235
 
 
 
9,946
 
 
 
$
134,514
 
 
$
133,369
 
____________
(1)
Investment securities held-to-maturity, included in Mortgage-backed securities – residential, are carried at amortized cost.
Schedule of Unrealized Loss on Investments [Table Text Block]
The following table summarizes the investment securities, both available-for-sale and held-to-maturity with unrealized losses as of March 31, 2015 and December 31, 2014, aggregated by investment category and length of time in a continuous unrealized loss position:
 
 
 
Less Than 12 Months
 
 
12 Months or More
 
 
Total
 
 
 
Fair Value
 
 
Unrealized 
Losses
 
 
Fair Value
 
 
Unrealized 
Losses
 
 
Fair Value
 
 
Unrealized 
Losses
 
 
 
(Dollars in Thousands)
 
March 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government-sponsored enterprises
 
$
-
 
 
$
-
 
 
$
4,882
 
 
$
(118)
 
 
$
4,882
 
 
$
(118)
 
State and municipal
 
 
430
 
 
 
(1)
 
 
 
-
 
 
 
-
 
 
 
430
 
 
 
(1)
 
Mortgage-backed securities – residential (1)
 
 
-
 
 
 
-
 
 
 
79,323
 
 
 
(939)
 
 
 
79,323
 
 
 
(939)
 
Collateralized mortgage obligations – U.S. Government
 
 
-
 
 
 
-
 
 
 
9,946
 
 
 
(289)
 
 
 
9,946
 
 
 
(289)
 
 
 
$
430
 
 
$
(1)
 
 
$
94,151
 
 
$
(1,346)
 
 
$
94,581
 
 
$
(1,347)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government – sponsored enterprises
 
$
-
 
 
$
-
 
 
$
4,738
 
 
$
(262)
 
 
$
4,738
 
 
$
(262)
 
State and municipal
 
 
1,836
 
 
 
(8)
 
 
 
-
 
 
 
-
 
 
 
1,836
 
 
 
(8)
 
Mortgage-backed securities – residential (1)
 
 
14,230
 
 
 
(172)
 
 
 
93,779
 
 
 
(1,236)
 
 
 
108,009
 
 
 
(1,408)
 
Collateralized mortgage obligations – U.S. Government
 
 
-
 
 
 
-
 
 
 
10,364
 
 
 
(412)
 
 
 
10,364
 
 
 
(412)
 
 
 
$
16,066
 
 
$
(180)
 
 
$
108,881
 
 
$
(1,910)
 
 
$
124,947
 
 
$
(2,090)
 
____________
(1)
Investment securities held-to-maturity, included in Mortgage-backed securities – residential, are carried at amortized cost.