Securities (Tables)

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and fair value of securities

Amortized cost and fair value of securities at March 31, 2018, and December 31, 2017, were as follows:

In thousands	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
SECURITIES AVAILABLE FOR SALE
MARCH 31, 2018
U.S. Government and agencies	$	108,790	$	2	$	2,841	$	105,951
Mortgage-backed securities, residential	32,338		267		433		32,172
State and municipal	12,497		81		71		12,507
Corporate bonds	5,000		—		10		4,990
	$	158,625	$	350	$	3,355	$	155,620
DECEMBER 31, 2017
U.S. Government and agencies	$	105,899	$	2	$	1,818	$	104,083
Mortgage-backed securities, residential	34,473		461		101		34,833
State and municipal	13,227		109		42		13,294
Corporate bonds	5,000		57		—		5,057
CRA mutual fund	1,044		—		9		1,035
Stock in other banks	647		102		—		749
	$	160,290	$	731	$	1,970	$	159,051
SECURITIES HELD TO MATURITY
MARCH 31, 2018
U.S. Government and agencies	$	17,000	$	—	$	132	$	16,868
Mortgage-backed securities, residential	24,378		2		490		23,890
	$	41,378	$	2	$	622	$	40,758
DECEMBER 31, 2017
U.S. Government and agencies	$	19,000	$	2	$	99	$	18,903
Mortgage-backed securities, residential	25,829		55		238		25,646
	$	44,829	$	57	$	337	$	44,549

The required fair value disclosures are as follows:

In thousands	Fair Value		Unrealized Gains		Unrealized Losses		Fair Value
MARCH 31, 2018
Equity securities with a readily determinable fair value	$	1,793	$	7	$	40	$	1,760

Schedule of unrealized losses and fair value

The following table shows the Corporation’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2018, and December 31, 2017:

	Less than 12 Months				12 Months or More				Total
In thousands	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
SECURITIES AVAILABLE FOR SALE
MARCH 31, 2018
U.S. Government and agencies	$	39,388	$	817	$	62,553	$	2,024	$	101,941	$	2,841
Mortgage-backed securities, residential	18,712		342		2,675		91		21,387		433
State and municipal	1,725		11		1,921		60		3,646		71
Corporate bond	4,990		10		—		—		4,990		10
	$	64,815	$	1,180	$	67,149	$	2,175	$	131,964	$	3,355
DECEMBER 31, 2017
U.S. Government and agencies	$	42,775	$	445	$	58,279	$	1,373	$	101,054	$	1,818
Mortgage-backed securities, residential	7,228		56		2,845		45		10,073		101
State and municipal	1,042		8		1,950		34		2,992		42
CRA Mutual Fund	—		—		1,035		9		1,035		9
	$	51,045	$	509	$	64,109	$	1,461	$	115,154	$	1,970
SECURITIES HELD TO MATURITY
MARCH 31, 2018
U.S. Government and agencies	$	6,969	$	31	$	9,899	$	101	$	16,868	$	132
Mortgage-backed securities, residential	12,856		139		10,491		351		23,347		490
	$	19,825	$	170	$	20,390	$	452	$	40,215	$	622
DECEMBER 31, 2017
U.S. Government and agencies	$	4,985	$	15	$	10,916	$	84	$	15,901	$	99
Mortgage-backed securities, residential	4,946		29		11,070		209		16,016		238
	$	9,931	$	44	$	21,986	$	293	$	31,917	$	337

Schedule of amortized cost and fair value by contractual maturity

Amortized cost and fair value at March 31, 2018, by contractual maturity, where applicable, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay with or without penalties.

	Available for Sale				Held to Maturity
In thousands	Amortized Cost		Fair Value		Amortized Cost		Fair Value
1 year or less	$	8,002	$	7,981	$	10,000	$	9,954
Over 1 year through 5 years	107,334		104,738		7,000		6,914
Over 5 years through 10 years	10,881		10,660		—		—
Over 10 years	70		69		—		—
Mortgage-backed securities, residential	32,338		32,172		24,378		23,890
	$	158,625	$	155,620	$	41,378	$	40,758