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SECURITIES (Tables)
9 Months Ended
Sep. 30, 2016
Components of Available for Sale Portfolio

Components of the available for sale portfolio are as follows:

 

 

 

September 30, 2016

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

unrealized

 

 

unrealized

 

 

Fair

 

 

 

cost

 

 

gains

 

 

losses

 

 

value

 

 

 

(Dollars in thousands)

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and government sponsored entities' securities

 

$

188,311

 

 

$

7,416

 

 

$

 

 

$

195,727

 

States of the U.S. and political subdivisions

 

 

49,409

 

 

 

1,357

 

 

 

(1

)

 

 

50,765

 

Mortgage-backed GSE securities: residential

 

 

105,963

 

 

 

2,014

 

 

 

 

 

 

107,977

 

Total

 

$

343,683

 

 

$

10,787

 

 

$

(1

)

 

$

354,469

 

 

 

 

December 31, 2015

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

unrealized

 

 

unrealized

 

 

Fair

 

 

 

cost

 

 

gains

 

 

losses

 

 

value

 

 

 

(Dollars in thousands)

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and government sponsored entities' securities

 

$

221,500

 

 

$

159

 

 

$

(3,009

)

 

$

218,650

 

States of the U.S. and political subdivisions

 

 

10,848

 

 

 

192

 

 

 

 

 

 

11,040

 

Mortgage-backed GSE securities: residential

 

 

129,155

 

 

 

55

 

 

 

(1,230

)

 

 

127,980

 

Total

 

$

361,503

 

 

$

406

 

 

$

(4,239

)

 

$

357,670

 

 

Components of Held to Maturity Securities Portfolio

Components of held to maturity securities portfolio are as follows:

 

 

 

September 30, 2016

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

unrecognized

 

 

unrecognized

 

 

Fair

 

 

 

cost

 

 

gains

 

 

losses

 

 

value

 

 

 

(Dollars in thousands)

 

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed GSE securities: residential

 

$

89,642

 

 

$

1,646

 

 

$

 

 

$

91,288

 

States of the U.S. and political subdivisions

 

 

13,560

 

 

 

361

 

 

 

 

 

 

13,921

 

Total

 

$

103,202

 

 

$

2,007

 

 

$

 

 

$

105,209

 

 

 

 

December 31, 2015

 

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

 

Amortized

 

 

unrecognized

 

 

unrecognized

 

 

Fair

 

 

 

cost

 

 

gains

 

 

losses

 

 

value

 

 

 

(Dollars in thousands)

 

Held to maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed GSE securities: residential

 

$

100,322

 

 

$

 

 

$

(1,203

)

 

$

99,119

 

States of the U.S. and political subdivisions

 

 

10,377

 

 

 

148

 

 

 

 

 

 

10,525

 

Total

 

$

110,699

 

 

$

148

 

 

$

(1,203

)

 

$

109,644

 

 

Available For Sale Securities [Member]  
Debt Securities by Contractual Maturity

Debt securities available for sale by contractual maturity, repricing or expected call date are shown below:

 

 

 

September 30, 2016

 

 

 

Amortized cost

 

 

Fair value

 

 

 

(Dollars in thousands)

 

Due in one year or less

 

$

 

 

$

 

Due after one year through five years

 

 

 

 

 

 

Due after five years through ten years

 

 

173,563

 

 

 

180,115

 

Due after ten years

 

 

64,157

 

 

 

66,377

 

Mortgage-backed GSE securities: residential

 

 

105,963

 

 

 

107,977

 

Total

 

$

343,683

 

 

$

354,469

 

 

Securities Available for Sale and Held to Maturity in Unrealized and Unrecognized Loss Position

Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more at  September 30, 2016 are as follows:

 

 

 

September 30, 2016

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

 

 

Fair

 

 

Unrealized loss

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

value

 

 

Loss

 

 

value

 

 

Loss

 

 

value

 

 

Loss

 

 

 

(Dollars in thousands)

 

Description of securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and government sponsored entities

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

States of the U.S. and political subdivisions

 

 

1,615

 

 

 

(1

)

 

 

 

 

 

 

 

 

1,615

 

 

 

(1

)

Mortgage-backed GSE securities: residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total temporarily impaired securities

 

$

1,615

 

 

$

(1

)

 

$

 

 

$

 

 

$

1,615

 

 

$

(1

)

Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more at December 31, 2015 are as follows:

 

 

 

December 31, 2015

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

 

 

Fair

 

 

Unrealized loss

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

value

 

 

Loss

 

 

value

 

 

Loss

 

 

value

 

 

Loss

 

 

 

(Dollars in thousands)

 

Description of securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury and government sponsored entities

 

$

139,876

 

 

$

(1,654

)

 

$

55,055

 

 

$

(1,355

)

 

$

194,931

 

 

$

(3,009

)

Mortgage-backed GSE securities: residential

 

 

100,585

 

 

 

(842

)

 

 

14,278

 

 

 

(388

)

 

 

114,863

 

 

 

(1,230

)

Total temporarily impaired securities

 

$

240,461

 

 

$

(2,496

)

 

$

69,333

 

 

$

(1,743

)

 

$

309,794

 

 

$

(4,239

)

 

Held To Maturity Securities [Member]  
Debt Securities by Contractual Maturity

Debt securities held to maturity by contractual maturity, repricing or expected call date are shown below:

 

 

 

September 30, 2016

 

 

 

Amortized cost

 

 

Fair value

 

 

 

(Dollars in thousands)

 

Due in one year or less

 

$

4,300

 

 

$

4,318

 

Due after one year through five years

 

 

 

 

 

 

Due after five years through ten years

 

 

4,268

 

 

 

4,429

 

Due after ten years

 

 

4,992

 

 

 

5,174

 

Mortgage-backed GSE securities: residential

 

 

89,642

 

 

 

91,288

 

Total

 

$

103,202

 

 

$

105,209

 

 

Securities Available for Sale and Held to Maturity in Unrealized and Unrecognized Loss Position

Securities held to maturity that have been in an unrecognized loss position for less than twelve months or twelve months or more are as follows: 

 

 

 

September 30, 2016

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

 

 

Fair

 

 

Unrealized loss

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

value

 

 

Loss

 

 

value

 

 

Loss

 

 

value

 

 

Loss

 

 

 

(Dollars in thousands)

 

Description of securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed GSE securities: residential

 

$

 

 

$

 

 

$

28,626

 

 

$

(182

)

 

$

28,626

 

 

$

(182

)

States of the U.S. and political subdivisions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total temporarily impaired securities

 

$

 

 

$

 

 

$

28,626

 

 

$

(182

)

 

$

28,626

 

 

$

(182

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

 

 

Fair

 

 

Unrealized loss

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

value

 

 

Loss

 

 

value

 

 

Loss

 

 

value

 

 

Loss

 

 

 

(Dollars in thousands)

 

Description of securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed GSE securities: residential

 

 

22,723

 

 

 

(289

)

 

 

76,396

 

 

 

(2,390

)

 

 

99,119

 

 

 

(2,679

)

Total temporarily impaired securities

 

$

22,723

 

 

$

(289

)

 

$

76,396

 

 

$

(2,390

)

 

$

99,119

 

 

$

(2,679

)