Investment Securities (Tables)

12 Months Ended

Dec. 31, 2015

Amortized Cost and Estimated Fair Values of Investment Securities



		December 31, 2015
		Amortized		Unrealized		Unrealized		Estimated
(Dollars in thousands)		Cost		Gains		Losses		Fair Value
Held To Maturity
US Government agency obligations	$	7,973	$	320	$	-	$	8,293
Government Sponsored Entities (GSE) mortgage-backed securities		2,759		83		-		2,842
Corporate bonds		11,518		234		(42)		11,710
Collateralized mortgage obligations GSE		2,623		9		(26)		2,606
State and municipal tax-exempt		42,956		300		(276)		42,980
Total	$	67,829	$	946	$	(344)	$	68,431

Available For Sale
US Government agency obligations	$	58,460	$	-	$	(252)	$	58,208
GSE mortgage-backed securities		40,663		13		(325)		40,351
Collateralized mortgage obligations GSE		16,241		3		(438)		15,806
Corporate bonds		20,921		-		(350)		20,571
State and municipal tax-exempt		17,274		180		(11)		17,443
Total	$	153,559	$	196	$	(1,376)	$	152,379


		December 31, 2014
		Amortized		Unrealized		Unrealized		Estimated
(Dollars in thousands)		Cost		Gains		Losses		Fair Value
Held To Maturity
US Government agency obligations	$	7,730	$	343	$	-	$	8,073
Government Sponsored Entities (GSE) mortgage-backed securities		3,579		133		-		3,712
Corporate bonds		3,951		324		-		4,275
Collateralized mortgage obligations GSE		3,605		3		(29)		3,579
State and municipal tax-exempt		40,589		418		(547)		40,460
Total	$	59,454	$	1,221	$	(576)	$	60,099

Available For Sale
US Government agency obligations	$	61,547	$	4	$	(197)	$	61,354
GSE mortgage-backed securities		66,669		189		(135)		66,723
Collateralized mortgage obligations GSE		20,499		8		(496)		20,011
Corporate bonds		13,208		-		(106)		13,102
State and municipal tax-exempt		10,917		87		(10)		10,994
Equity securities		27		2		(11)		18
Total	$	172,867	$	290	$	(955)	$	172,202

Aggregate Unrealized Losses and Aggregate Fair Value of Underlying Securities



		December 31, 2015
						Fair Value		Unrealized		Fair Value		Unrealized
				Total		Impaired		Loss		Impaired		Loss
		Total		Unrealized		Less Than		Less Than		More Than		More Than
(Dollars in thousands)		Fair Value		Loss		12 Months		12 Months		12 Months		12 Months
Held To Maturity
Corporate bonds	$	7,597	$	(42)	$	7,597	$	(42)	$	-	$	-
Collateralized mortgage obligations GSE		1,482		(26)		388		(10)		1,094		(16)
State and municipal tax-exempt		13,161		(276)		4,380		(34)		8,781		(242)
Total	$	22,240	$	(344)	$	12,365	$	(86)	$	9,875	$	(258)
Available For Sale
US Government agency obligations	$	58,208	$	(252)	$	58,208	$	(252)	$	-	$	-
GSE mortgage-backed securities		38,307		(325)		33,984		(238)		4,323		(87)
Collateralized mortgage obligations GSE		15,231		(438)		4,187		(41)		11,044		(397)
Corporate bonds		20,571		(350)		16,157		(264)		4,414		(86)
State and municipal tax-exempt		6,660		(11)		6,660		(11)		-		-
Total	$	138,977	$	(1,376)	$	119,196	$	(806)	$	19,781	$	(570)



	December 31, 2014
					Fair value		Unrealized		Fair value		Unrealized
			Total		Impaired		Loss		Impaired		Loss
	Total		Unrealized		Less Than		Less Than		More Than		More Than
(Dollars in thousands)	Fair Value		Loss		12 Months		12 Months		12 Months		12 Months
Held To Maturity
Collateralized mortgage obligations GSE	$	3,043	$	(29)	$	3,043	$	(29)	$	-	$	-
State and municipal tax-exempt		19,054		(547)		2,138		(7)		16,916		(540)
Total	$	22,097	$	(576)	$	5,181	$	(36)	$	16,916	$	(540)
Available For Sale
US Government agency obligations	$	56,342	$	(197)	$	49,222	$	(97)	$	7,120	$	(100)
GSE mortgage-backed securities		22,157		(135)		14,996		(38)		7,161		(97)
Collateralized mortgage obligations GSE		18,133		(496)		3,669		(5)		14,464		(491)
Corporate bonds		13,102		(106)		9,531		(31)		3,571		(75)
State and municipal tax-exempt		2,967		(10)		2,360		(9)		607		(1)
Equity securities		12		(11)		-		-		12		(11)
Total	$	112,713	$	(955)	$	79,778	$	(180)	$	32,935	$	(775)

Investments Classified by Contractual Maturity Date



		Held to Maturity				Available for Sale
		Amortized		Estimated		Amortized		Estimated
(Dollars in thousands)		Cost		Fair Value		Cost		Fair Value
Due in one year or less	$	-	$	-	$	18,694	$	18,668
Due after one year through five years		19,677		20,250		63,770		63,265
Due after five years through ten years		28,870		28,972		41,423		41,195
Due after ten years		19,282		19,209		29,672		29,251
No stated maturity		-		-		-		-
Total investment securities	$	67,829	$	68,431	$	153,559	$	152,379

Principal Value of Investments Securities Sold



	Year Ended
	December 31
(Dollars in thousands)	2015		2014
Available for sale securities sold	$	17,988	$	39,333
Held to maturity securities sold		-		1,612
Total sold securities	$	17,988	$	40,945

Gains and Losses Resulting from Investment Sales, Redemptions or Calls



	Year Ended
	December 31
(Dollars in thousands)	2015		2014
Gross realized gains-AFS	$	90	$	474
Gross realized gains-HTM		-		415
Gross realized losses-AFS		(12)		(31)
Gross realized losses-HTM		-		-
Net realized gain	$	78	$	858

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

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