INVESTMENT SECURITIES

6 Months Ended

Jun. 30, 2018

INVESTMENT SECURITIES

INVESTMENT SECURITIES

4.INVESTMENT SECURITIES

At June 30, 2018 the Corporation has an investment security portfolio totaling $114.682 million, composed of $114.182 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 June 30, 2018 and December 31, 2017 are as follows (dollars in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
June 30, 2018
Corporate	$	19,466	$	32	$	(191)	$	19,307
US Agencies		14,948		444		(290)		15,102
US Agencies - MBS		33,770		596		(273)		34,093
Obligations of states and political subdivisions		45,231		656		(207)		45,680
Total securities available for sale	$	113,415	$	1,728	$	(961)	$	114,182
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 $44.646 million and $43.280 million, respectively, at June 30, 2018.