INVESTMENT SECURITIES

3 Months Ended

Mar. 31, 2016

INVESTMENT SECURITIES

SECURITIES AVAILABLE FOR SALE

4.INVESTMENT SECURITIES

The amortized cost and estimated fair value of investment securities available for sale as of March 31, 2016, December 31, 2015 and March 31, 2015 are as follows (dollars in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
March 31, 2016
US Agencies - MBS	$	3,081	$	1	$	(25)	$	3,057
US Agencies		22,786		235		—		23,021
Corporate Bonds		17,890		51		(8)		17,933
Obligations of states and political subdivisions		9,486		641		(117)		10,010
Total securities available for sale	$	53,243	$	928	$	(150)	$	54,021
December 31, 2015
US Treasury	$	12,710	$	—	$	(64)	$	12,646
US Agencies		27,358		62		(43)		27,377
US Agencies - MBS		3,738		31		(10)		3,759
Obligations of states and political subdivisions		9,472		592		(118)		9,946
Total securities available for sale	$	53,278	$	685	$	(235)	$	53,728
March 31, 2015
US Treasury		4,301		57		—		4,358
US Agencies - MBS	$	12,815		278		(3)		13,090
US Agencies		21,173		338		(2)		21,509
Corporate Bonds		12,496		115		—		12,611
Obligations of states and political subdivisions		11,066		819		(140)		11,745
Total securities available for sale	$	61,851	$	1,607	$	(145)	$	63,313

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 $7.895 million and $7.987 million, respectively, at March 31, 2016.