INVESTMENT SECURITIES

3 Months Ended

Mar. 31, 2015

INVESTMENT SECURITIES

INVESTMENT SECURITIES

3.INVESTMENT SECURITIES

The amortized cost and estimated fair value of investment securities available for sale as of March 31, 2015, December 31, 2014 and March 31, 2014 are as follows (dollars in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
	Cost		Gains		Losses			Fair Value
March 31, 2015
US Treasury	$	4,301	$	57	$	—		$	4,358
US Agencies	21,173		338		(2		)	21,509
Corporate Bonds	12,496		115		—			12,611
US Agencies - MBS	12,815		278		(3		)	13,090
Obligations of states and political subdivisions	11,066		819		(140		)	11,745
Total securities available for sale	$	61,851	$	1,607	$	(145	)	$	63,313
December 31, 2014
US Treasury	$	5,287	$	3	$	(10	)	$	5,280
US Agencies	22,667		144		(94		)	22,717
Corporate Bonds	12,558		116		—			12,674
US Agencies - MBS	13,461		262		(35		)	13,688
Obligations of states and political subdivisions	10,930		685		(142		)	11,473
Total securities available for sale	$	64,903	$	1,210	$	(281	)	$	65,832
March 31, 2014
US Agencies	$	17,745	$	40	$	(287	)	$	17,498
Corporate Bonds	15,776		201		—			15,977
US Agencies - MBS	6,938		278		—			7,216
Obligations of states and political subdivisions	6,431		292		(3		)	6,720
Total securities available for sale	$	46,890	$	811	$	(290	)	$	47,411

The Corporation has evaluated gross unrealized losses that exist within the portfolio and considers them temporary in nature.  The Corporation has both the ability and the intent to hold the investment securities until their respective maturities and therefore does not anticipate the realization of the temporary losses.

The amortized cost and estimated fair value of investment securities pledged to secure FHLB borrowings and customer relationships were $3.891 million and $4.126 million, respectively, at March 31, 2015.