SECURITIES AVAILABLE FOR SALE (Tables)

12 Months Ended

Dec. 31, 2017

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, 2017

Corporate	$	24,352	$	82	$	(43)	$	24,391
Equity		500		—		—		500
US Agencies		16,935		10		(99)		16,846
US Agencies - MBS		12,830		42		(156)		12,716
Obligations of states and political subdivisions		21,370		307		(233)		21,444

Total securities available for sale	$	75,987	$	441	$	(531)	$	75,897

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

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, 2017 and 2016 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, 2017

Corporate	$	(43)	$	14,204	$	—	$	—
Equity		—		—		—		—
US Agencies		(87)		14,799		(12)		745
US Agencies - MBS		(67)		4,400		(89)		5,218
Obligations of states and political subdivisions		(99)		10,245		(134)		1,589

Total securities available for sale	$	(296)	$	43,648	$	(235)	$	7,552

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

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):


	2017		2016		2015

Proceeds from sales and calls	$	11,651	$	19,719	$	25,628
Gross gains on sales and calls		253		190		455
Gross (losses) on sales and calls		(22)		(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, 2017, by contractual maturity, are shown below (dollars in thousands):


	Amortized		Estimated
	Cost		Fair Value

Due in one year or less	$	8,908	$	9,262
Due after one year through five years		37,544		40,665
Due after five years through ten years		13,780		10,984
Due after ten years		2,925		2,270
Subtotal		63,157		63,181
US Agencies - MBS		12,830		12,716

Total	$	75,987	$	75,897