INVESTMENT SECURITIES

3 Months Ended

Mar. 31, 2018

4.INVESTMENT SECURITIES

The Corporation has an investment security portfolio totaling $73.902 million, composed of $73.402 million of available for sale securities and $.500 million of equity securities. There is no unrealized gain or loss associated with the equity securities. The amortized cost and estimated fair value of investment securities available for sale as of March 31, 2018 and December 31, 2017 are as follows (dollars in thousands):


			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value

March 31, 2018

Corporate	$	24,289	$	101	$	(168)	$	24,222
US Agencies		16,898		5		(246)		16,657
US Agencies - MBS		11,893		34		(250)		11,677
Obligations of states and political subdivisions		20,948		228		(330)		20,846

Total securities available for sale	$	74,028	$	368	$	(994)	$	73,402

December 31, 2017

Corporate	$	24,352	$	82	$	(43)	$	24,391
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	$	75,487	$	441	$	(531)	$	75,397

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 $4.637 million and $4.536 million, respectively, at March 31, 2018.