SECURITIES AVAILABLE FOR SALE (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of carrying value and estimated fair value of securities available for sale

The carrying value and estimated fair value of securities available for sale are as follows (dollars in thousands):


	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
December 31, 2016

Corporate	$	19,899	$	49	$	(38)	$	19,910
Equity		500		—		—		500
US Agencies		23,991		47		(86)		23,952
US Agencies - MBS		16,980		48		(195)		16,833
Obligations of states and political subdivisions		25,057		447		(426)		25,078

Total securities available for sale	$	86,427	$	591	$	(745)	$	86,273

December 31, 2015

Corporate		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

Schedule of securities with gross unrealized losses aggregated by investment category and length of time these individual securities have been in a loss position

Following is information pertaining to securities with gross unrealized losses at December 31, 2016 and 2015 aggregated by investment category and length of time these individual securities have been in a loss position (dollars in thousands):


	Less Than Twelve Months				Over Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
December 31, 2016

Corporate	$	(38)	$	12,085	$	—	$	—
Equity		—		—		—		—
US Agencies		(86)		19,153		—		—
US Agencies - MBS		(192)		11,589		(3)		932
Obligations of states and political subdivisions		(426)		13,328		—		—

Total securities available for sale	$	(742)	$	56,155	$	(3)	$	932

December 31, 2015
Corporate		(64)		11,299		—		—
US Agencies		(43)		15,957		—		—
US Agencies - MBS		(10)		1,651		—		—
Obligations of states and political subdivisions		(118)		573		—		—

Total securities available for sale	$	(235)	$	29,480	$	—	$	—

Summary of the proceeds from sales and calls of securities available for sale, as well as gross gains and losses

Following is a summary of the proceeds from sales and calls of securities available for sale, as well as gross gains and losses for the years ended December 31 (dollars in thousands):


	2016		2015		2014

Proceeds from sales and calls	$	19,719	$	25,628	$	5,200
Gross gains on sales and calls		190		455		54
Gross (losses) on sales and calls		(40)		—		—

Schedule of carrying value and estimated fair value of securities available for sale by contractual maturity

The carrying value and estimated fair value of securities available for sale at December 31, 2016, by contractual maturity, are shown below (dollars in thousands):


	Amortized		Estimated
	Cost		Fair Value

Due in one year or less	$	1,010	$	902
Due after one year through five years		48,665		48,587
Due after five years through ten years		13,469		13,633
Due after ten years		6,303		6,318
Subtotal		69,447		69,440
US Agencies - MBS		16,980		16,833

Total	$	86,427	$	86,273