Investment Securities (Tables)

9 Months Ended

Sep. 30, 2016

Amortized Cost and Estimated Fair Values of Investment Securities



			September 30, 2016
	Amortized			Unrealized		Unrealized
(Dollars in thousands)	Cost			Gains		Losses		Fair Value
Held To Maturity
US Government agency obligations	$	8,161		$	480	$	-	$	8,641
Government Sponsored Entities (GSE) mortgage-backed securities		1,545			65		-		1,610
Corporate bonds		12,854			414		(6)		13,262
Collateralized mortgage obligations GSE		2,148			30		-		2,178
State and municipal taxable		1,009			40		-		1,049
State and municipal tax-exempt		48,072			313		(14)		48,371
Total	$	73,789		$	1,342	$	(20)	$	75,111

Available For Sale
US Government agency obligations	$	52,436		$	121	$	(15)	$	52,542
GSE mortgage-backed securities		32,605			236		-		32,841
Collateralized mortgage obligations GSE		13,834			28		(107)		13,755
Corporate bonds		17,522			69		(140)		17,451
State and municipal tax-exempt		5,095			8		(4)		5,099
Total	$	121,492		$	462	$	(266)	$	121,688



			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



		September 30, 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	$	1,988	$	(6)	$	-	$	-	$	1,988	$	(6)
Collateralized mortgage obligations GSE		325		-		325		-		-		-
State and municipal tax-exempt		6,202		(14)		6,202		(14)		-		-
Total	$	8,515	$	(20)	$	6,527	$	(14)	$	1,988	$	(6)
Available For Sale
US Government agency obligations	$	20,185	$	(15)	$	20,185	$	(15)	$	-	$	-
Collateralized mortgage obligations GSE		9,078		(107)		1,734		(14)		7,344		(93)
Corporate bonds		10,752		(140)		5,315		(56)		5,437		(84)
State and municipal tax-exempt		3,087		(4)		3,087		(4)		-		-
Total	$	43,102	$	(266)	$	30,321	$	(89)	$	12,781	$	(177)



		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	$	-	$	-	$	12,751	$	12,732
Due after one year through five years		22,695		23,572		58,429		58,504
Due after five years through ten years		30,108		30,460		7,295		7,336
Due after ten years		20,986		21,079		43,017		43,116
Total investment securities	$	73,789	$	75,111	$	121,492	$	121,688

Gains and Losses Resulting from Investment Sales, Redemptions or Calls



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2016		2015		2016		2015
Gross realized gains-AFS	$	176	$	13	$	440	$	77
Gross realized gains-HTM		21		-		21		-
Gross realized losses-AFS		-		(3)		(30)		(3)
Net realized gain	$	197	$	10	$	431	$	74

- 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