INVESTMENT SECURITIES

9 Months Ended

Sep. 30, 2015

INVESTMENT SECURITIES

INVESTMENT SECURITIES

4.  INVESTMENT SECURITIES

The amortized cost and estimated fair value of investment securities available for sale as of September 30, 2015, December 31, 2014 and September 30, 2014 are as follows (dollars in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
	Cost		Gains		Losses			Fair Value
September 30, 2015
US Agencies - MBS	$	3,543	$	22	$	(8	)	$	3,557
US Agencies	25,321		277		—			25,598
Corporate Bonds	14,742		75		(2		)	14,815
Obligations of states and political subdivisions	9,929		536		(3		)	10,462
Total securities available for sale	$	53,535	$	910	$	(13	)	$	54,432
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
September 30, 2014
US Agencies - MBS	$	6,142	$	241	$	—		$	6,383
US Agencies	22,725		41		(273		)	22,493
Corporate Bonds	12,621		172		—			12,793
Obligations of states and political subdivisions	6,383		439		—			6,822
Other	251		—		—			251
Total securities available for sale	$	48,122	$	893	$	(273	)	$	48,742

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 $5.394 million and $5.460 million, respectively, at September 30, 2015.