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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and fair values of investment securities
The amortized cost and fair values of investment securities at March 31, 2015 and December 31, 2014 are as follows:
 
 
March 31, 2015
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
(In Thousands)
 
Cost
 
Gains
 
Losses
 
Value
Available for sale (AFS)
 
 

 
 

 
 

 
 

U.S. Government and agency securities
 
$
3,707

 
$
—

 
$
(37
)
 
$
3,670

Mortgage-backed securities
 
11,509

 
465

 
(6
)
 
11,968

Asset-backed securities
 
2,346

 
25

 
(4
)
 
2,367

State and political securities
 
100,160

 
3,630

 
(556
)
 
103,234

Other debt securities
 
89,388

 
1,496

 
(772
)
 
90,112

Total debt securities
 
207,110

 
5,616

 
(1,375
)
 
211,351

Financial institution equity securities
 
8,776

 
886

 
(9
)
 
9,653

Other equity securities
 
4,429

 
52

 
(183
)
 
4,298

Total equity securities
 
13,205

 
938

 
(192
)
 
13,951

Total investment securities AFS
 
$
220,315

 
$
6,554

 
$
(1,567
)
 
$
225,302

 
 
 
December 31, 2014
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
(In Thousands)
 
Cost
 
Gains
 
Losses
 
Value
Available for sale (AFS)
 
 

 
 

 
 

 
 

U.S. Government and agency securities
 
$
3,953

 
$
—

 
$
(112
)
 
$
3,841

Mortgage-backed securities
 
12,240

 
485

 
(28
)
 
12,697

Asset-backed securities
 
2,468

 
27

 
(3
)
 
2,492

State and political securities
 
104,820

 
3,885

 
(589
)
 
108,116

Other debt securities
 
89,911

 
1,031

 
(1,299
)
 
89,643

Total debt securities
 
213,392

 
5,428

 
(2,031
)
 
216,789

Financial institution equity securities
 
8,823

 
1,110

 
(18
)
 
9,915

Other equity securities
 
5,558

 
79

 
(128
)
 
5,509

Total equity securities
 
14,381

 
1,189

 
(146
)
 
15,424

Total investment securities AFS
 
$
227,773

 
$
6,617

 
$
(2,177
)
 
$
232,213
Schedule of gross unrealized losses and fair value
The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time, that the individual securities have been in a continuous unrealized loss position, at March 31, 2015 and December 31, 2014.
 
 
March 31, 2015
 
 
Less than Twelve Months
 
Twelve Months or Greater
 
Total
 
 
 
 
Gross
 
 
 
Gross
 
 
 
Gross
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
(In Thousands)
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
U.S. Government and agency securities
 
$
—

 
$
—

 
$
3,670

 
$
(37
)
 
$
3,670

 
$
(37
)
Mortgage-backed securities
 
3,880

 
(6
)
 
—

 
—

 
3,880

 
(6
)
Asset-backed securities
 
—

 
—

 
470

 
(4
)
 
470

 
(4
)
State and political securities
 
4,586

 
(59
)
 
1,287

 
(497
)
 
5,873

 
(556
)
Other debt securities
 
13,637

 
(285
)
 
18,609

 
(487
)
 
32,246

 
(772
)
Total debt securities
 
22,103

 
(350
)
 
24,036

 
(1,025
)
 
46,139

 
(1,375
)
Financial institution equity securities
 
438

 
(9
)
 
—

 
—

 
438

 
(9
)
Other equity securities
 
2,178

 
(162
)
 
779

 
(21
)
 
2,957

 
(183
)
Total equity securities
 
2,616

 
(171
)
 
779

 
(21
)
 
3,395

 
(192
)
Total
 
$
24,719

 
$
(521
)
 
$
24,815

 
$
(1,046
)
 
$
49,534

 
$
(1,567
)
 
 
December 31, 2014
 
 
Less than Twelve Months
 
Twelve Months or Greater
 
Total
 
 
 
 
Gross
 
 
 
Gross
 
 
 
Gross
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
(In Thousands)
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
U.S. Government and agency securities
 
$
—

 
$
—

 
$
3,841

 
$
(112
)
 
$
3,841

 
$
(112
)
Mortgage-backed securities
 
6,741

 
(28
)
 
—

 
—

 
6,741

 
(28
)
Asset-backed securities
 
—

 
—

 
519

 
(3
)
 
519

 
(3
)
State and political securities
 
8,243

 
(14
)
 
6,382

 
(575
)
 
14,625

 
(589
)
Other debt securities
 
23,174

 
(718
)
 
29,266

 
(581
)
 
52,440

 
(1,299
)
Total debt securities
 
38,158

 
(760
)
 
40,008

 
(1,271
)
 
78,166

 
(2,031
)
Financial institution equity securities
 
407

 
(18
)
 
—

 
—

 
407

 
(18
)
Other equity securities
 
1,837

 
(100
)
 
773

 
(28
)
 
2,610

 
(128
)
Total equity securities
 
2,244

 
(118
)
 
773

 
(28
)
 
3,017

 
(146
)
Total
 
$
40,402

 
$
(878
)
 
$
40,781

 
$
(1,299
)
 
$
81,183

 
$
(2,177
)
Schedule of amortized cost and fair value of debt securities by contractual maturity
The amortized cost and fair value of debt securities at March 31, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

(In Thousands)
 
Amortized Cost
 
Fair Value
Due in one year or less
 
$
4,220

 
$
4,241

Due after one year to five years
 
40,569

 
41,108

Due after five years to ten years
 
96,622

 
97,529

Due after ten years
 
65,699

 
68,473

Total
 
$
207,110

 
$
211,351
Schedule of gross realized gains and losses
The following table represents gross realized gains and losses on those transactions:
 
 
Three Months Ended March 31,
(In Thousands)
2015
 
2014
Gross realized gains:
 

 
 

State and political securities
396

 
345

Other debt securities
74

 
307

Financial institution equity securities
155

 
112

Other equity securities
132

 
55

Total gross realized gains
$
757

 
$
819

 
 
 
 
Gross realized losses:
 

 
 

U.S. Government and agency securities
$
—

 
$
31

State and political securities
22

 
320

Other debt securities
32

 
75

Other equity securities
42

 
—

Total gross realized losses
$
96

 
$
426