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Securities (Tables)
 12 Months Ended
Dec. 31, 2016
SECURITIES  
Schedule of amortized cost and fair value of securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

Amortized Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

Obligations of the U.S. Treasury and other U.S. government agencies or sponsored enterprises

    

$
118,272

    

$
17

    

$
(403)

    

$
117,886

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

 
99,876

 

 
452

 

 
(430)

 

 
99,898

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 
42,379

 

 
96

 

 
(563)

 

 
41,912

Corporate debt securities

 

 
3,788

 

 
1

 

 
(14)

 

 
3,775

Obligations of municipal subdivisions

 

 
236

 

 

 -

 

 
(1)

 

 
235

CRA qualified investment fund

 

 
11,183

 

 

 -

 

 
(270)

 

 
10,913

Total

 

$
275,734

 

$
566

 

$
(1,681)

 

$
274,619

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

$
14,358

 

$
140

 

$
(267)

 

$
14,231

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 
21,147

 

 
2

 

 
(536)

 

 
20,613

Total

 

$
35,505

 

$
142

 

$
(803)

 

$
34,844

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

 

Amortized Cost

 

Gross Unrealized Gains

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

Obligations of the U.S. Treasury and other U.S. government agencies or sponsored enterprises

    

$
90,032

    

$
3

    

$
(85)

    

$
89,950

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

 
129,752

 

 
1,137

 

 
(184)

 

 
130,705

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 
51,569

 

 
74

 

 
(314)

 

 
51,329

Corporate debt securities

 

 
3,790

 

 
4

 

 
(1)

 

 
3,793

Obligations of municipal subdivisions

 

 
236

 

 
8

 

 

 -

 

 
244

Total

 

$
275,379

 

$
1,226

 

$
(584)

 

$
276,021

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

$
15,002

 

$
320

 

$
(143)

 

$
15,179

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 
27,128

 

 
54

 

 
(365)

 

 
26,817

Total

 

$
42,130

 

$
374

 

$
(508)

 

$
41,996

 

Schedule of contractual maturities of securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

Available-for-sale

 

Held-to-maturity

 

 

Amortized Cost

 

Fair Value

 

Amortized Cost

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Due in one year or less

    

$
42,074

    

$
42,056

    

$

 -

    

$

 -

Due after one year through five years

 

 
79,986

 

 
79,605

 

 

 -

 

 

 -

Due after  five years through ten years

 

 
236

 

 
235

 

 

 

 

 

 

 

 

 
122,296

 

 
121,896

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities and collateralized mortgage obligations

 

 
142,255

 

 
141,810

 

 
35,505

 

 
34,844

CRA qualified investment fund

 

 
11,183

 

 
10,913

 

 

 -

 

 

 -

Total

 

$
275,734

 

$
274,619

 

$
35,505

 

$
34,844

 

Schedule of investments in a continuous unrealized loss position

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

Less than 12 Months

 

12 Months or More

 

 

Amortized Cost

 

Gross Unrealized Losses

 

Fair Value

 

Amortized Cost

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Obligations of the U.S. Treasury and other U.S. government agencies or sponsored enterprises

    

$
100,517

 

$
(403)

    

$
100,114

    

$

 -

    

$

 -

    

$

 -

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

 
60,233

 

 
(405)

 

 
59,828

 

 
4,121

 

 
(25)

 

 
4,096

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 
29,916

 

 
(492)

 

 
29,424

 

 
2,874

 

 
(71)

 

 
2,803

Corporate debt securities

 

 
1,785

 

 
(14)

 

 
1,771

 

 

 -

 

 

 -

 

 

 -

Obligations of municipal subdivisions

 

 
236

 

 
(1)

 

 
235

 

 

 -

 

 

 -

 

 

 -

CRA qualified investment fund

 

 
11,183

 

 
(270)

 

 
10,913

 

 

 -

 

 

 -

 

 

 -

Total

 

$
203,870

 

$
(1,585)

 

$
202,285

 

$
6,995

 

$
(96)

 

$
6,899

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

$
8,551

 

$
(234)

 

$
8,317

 

$
860

 

$
(33)

 

$
827

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 
12,141

 

 
(191)

 

 
11,950

 

 
7,644

 

 
(345)

 

 
7,299

Total

 

$
20,692

 

$
(425)

 

$
20,267

 

$
8,504

 

$
(378)

 

$
8,126

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

 

Less than 12 Months

 

12 Months or More

 

 

Amortized Cost

 

Gross Unrealized Losses

 

Fair Value

 

Amortized Cost

 

Gross Unrealized Losses

 

Fair Value

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

 

 

            

Obligations of the U.S. Treasury and other U.S. government agencies or sponsored enterprises

    

$
85,028

  

$
(85)

    

$
84,943

    

$

 -

    

$

 -

    

$

 -

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

 
48,830

 

 
(184)

 

 
48,646

 

 

 -

 

 

 -

 

 

 -

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 
33,299

 

 
(314)

 

 
32,985

 

 

 -

 

 

 -

 

 

 -

Corporate debt securities

 

 
2,009

 

 
(1)

 

 
2,008

 

 

 -

 

 

 -

 

 

 -

Total

 

$
169,166

 

$
(584)

 

$
168,582

 

$

 -

 

$

 -

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities issued by U.S. government agencies or sponsored enterprises

 

$
3,220

 

$
(48)

 

$
3,172

 

$
2,571

 

$
(95)

 

$
2,476

Collateralized mortgage obligations issued by U.S. government agencies or sponsored enterprises

 

 
9,945

 

 
(73)

 

 
9,872

 

 
12,871

 

 
(292)

 

 
12,579

Total

 

$
13,165

 

$
(121)

 

$
13,044

 

$
15,442

 

$
(387)

 

$
15,055

The average loss on securities in an unrealized loss position was 1.04% and 0.55% of the amortized cost basis at December 31, 2016 and 2015, respectively. There were nine and six securities in an unrealized loss position of greater than 12 months at December 31, 2016 and 2015, respectively.