Investment Securities (Tables)

3 Months Ended

Mar. 31, 2016

Amortized Cost and Estimated Fair Values of Investment Securities



		March 31, 2016
		Amortized		Unrealized		Unrealized
(Dollars in thousands)		Cost		Gains		Losses		Fair Value
Held To Maturity
US Government agency obligations	$	8,035	$	482	$	-	$	8,517
Government Sponsored Entities (GSE) mortgage-backed securities		2,615		105		-		2,720
Corporate bonds		11,420		304		(70)		11,654
Collateralized mortgage obligations GSE		2,455		25		(2)		2,478
State and municipal tax-exempt		41,125		376		(73)		41,428
Total	$	65,650	$	1,292	$	(145)	$	66,797

Available For Sale
US Government agency obligations	$	58,950	$	169	$	(3)	$	59,116
GSE mortgage-backed securities		34,055		173		-		34,228
Collateralized mortgage obligations GSE		15,518		28		(157)		15,389
Corporate bonds		19,951		69		(148)		19,872
State and municipal tax-exempt		12,641		136		(9)		12,768
Total	$	141,115	$	575	$	(317)	$	141,373



		December 31, 2015
		Amortized		Unrealized		Unrealized
(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

Aggregate Unrealized Losses and Aggregate Fair Value of Underlying Securities



		March 31, 2016
						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	$	3,423	$	(70)	$	3,423	$	(70)	$	-	$	-
Collateralized mortgage obligations GSE		368		(2)		368		(2)		-		-
State and municipal tax-exempt		4,144		(73)		563		(7)		3,581		(66)
Total	$	7,935	$	(145)	$	4,354	$	(79)	$	3,581	$	(66)
Available For Sale
US Government agency obligations	$	9,997	$	(3)	$	9,997	$	(3)	$	-	$	-
Collateralized mortgage obligations GSE		12,321		(157)		1,507		(15)		10,814		(142)
Corporate bonds		10,975		(148)		4,487		(53)		6,488		(95)
State and municipal tax-exempt		6,644		(9)		6,644		(9)		-		-
Total	$	39,937	$	(317)	$	22,635	$	(80)	$	17,302	$	(237)



		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)

Investments Classified by Contractual Maturity Date



		Held to Maturity				Available for Sale
		Amortized				Amortized
(Dollars in thousands)		Cost		Fair Value		Cost		Fair Value
Due in one year or less	$	-	$	-	$	18,669	$	18,657
Due after one year through five years		20,021		20,802		62,804		62,906
Due after five years through ten years		27,530		27,778		34,738		34,935
Due after ten years		18,099		18,217		24,904		24,875
Total investment securities	$	65,650	$	66,797	$	141,115	$	141,373

Gains and Losses Resulting from Investment Sales, Redemptions or Calls



		Three Months Ended
		March 31,
(Dollars in thousands)		2016		2015
Gross realized gains-AFS	$	61	$	53
Gross realized losses-AFS		(30)		-
Net realized gain	$	31	$	53

- 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.

+ References + Details