5.	INVESTMENT SECURITIES

Details of investment securities available-for-sale and held-to-maturity as of September

30, 2016 and December 31, 2015 were as follows:

	Available-for-Sale
	September 30 , 201 6
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	96,845	$	1,534	$	(38	)	$	98,341
Commercial		69,430		280		(384	)		69,326
Obligations of states and political subdivisions		10,153		582		—			10,735
Obligations of U.S. government-sponsored agencies		2,000		6		—			2,006
Corporate notes		762		1		—			763
U.S. Treasury securities		80		—		—			80
Total	$	179,270	$	2,403	$	(422	)	$	181,251

	Held-to-Maturity
	September 30 , 201 6
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	16,052	$	81	$	—		$	16,133
Obligations of U.S. government-sponsored agencies		10,121		59		(2	)		10,178
Obligations of states and political subdivisions		2,142		33		(3	)		2,172
Total	$	28,315	$	173	$	(5	)	$	28,483

	Available-for-Sale
	December 31, 201 5
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	135,104	$	998	$	(608	)	$	135,494
Commercial		45,961		164		(616	)		45,509
Obligations of states and political subdivisions		14,071		931		(4	)		14,998
Obligations of U.S. government-sponsored agencies		1,999		—		(17	)		1,982
Corporate notes		780		—		—			780
U.S. Treasury securities		80		—		—			80
Total	$	197,995	$	2,093	$	(1,245	)	$	198,843

	Held-to-Maturity
	December 31, 201 5
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	16,321	$	33	$	(170	)	$	16,184
Obligations of U.S. government-sponsored agencies		13,766		19		(71	)		13,714
Obligations of states and political subdivisions		2,272		18		(4	)		2,286
Total	$	32,359	$	70	$	(245	)	$	32,184

The scheduled maturities of investment securities available-for-sale and held-to-maturity as of September 30

, 2016 are presented in the following table:

	Available-for-Sale				Held-to-Maturity
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(Dollars in Thousands)
Maturing within one year	$	2,007	$	2,016	$	—	$	—
Maturing after one to five years		5,400		5,501		2,064		2,109
Maturing after five to ten years		75,845		77,084		7,215		7,247
Maturing after ten years		96,018		96,650		19,036		19,127
Total	$	179,270	$	181,251	$	28,315	$	28,483

For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been allocated over maturity groupings based on the weighted-average contractual maturities of underlying collateral. The mortgage-backed securities generally mature earlier than their weighted-average contractual maturities because of principal prepayments.

The following table reflects 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, as of

September 30, 2016 and December 31, 2015.

	Available-for-Sale
	September 30 , 201 6
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	7,855	$	(15	)	$	1,954	$	(23	)
Commercial		28,829		(82	)		11,498		(302	)
U.S. Treasury securities		80		—			—		—
Total	$	36,764	$	(97	)	$	13,452	$	(325	)

	Held-to-Maturity
	September 30 , 201 6
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	1,948	$	—		$	—	$	—
Obligations of U.S. government-sponsored agencies		1,397		(2	)		—		—
Obligations of states and political subdivisions		563		(3	)		—		—
Total	$	3,908	$	(5	)	$	—	$	—

	Available-for-Sale
	December 31, 201 5
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	83,403	$	(458	)	$	9,061	$	(150	)
Commercial		24,337		(272	)		8,918		(344	)
Obligations of U.S. government-sponsored agencies		1,982		(17	)		—		—
Corporate notes		779		—			—		—
Obligations of states and political subdivisions		707		(4	)		—		—
Total	$	111,208	$	(751	)	$	17,979	$	(494	)

	Held-to-Maturity
	December 31, 201 5
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	14,143	$	(170	)	$	—	$	—
Obligations of U.S. government-sponsored agencies		11,163		(44	)		1,560		(27	)
Obligations of states and political subdivisions		572		(4	)		—		—
Total	$	25,878	$	(218	)	$	1,560	$	(27	)

Management evaluates securities for other-than-temporary impairment no less frequently than quarterly, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (i) the length of time and the extent to which fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, (iii) whether the Company intends to sell securities and (iv) whether it is more likely than not that the Company will be required to sell the securities before recovery of their amortized cost bases.

As of September

30, 2016, 12 debt securities had been in a loss position for more than 12 months, and 29 debt securities had been in a loss position for less than 12 months. As of December 31, 2015, 13 debt securities had been in a loss position for more than 12 months, and 102 debt securities had been in a loss position for less than 12 months. As of both September 30, 2016 and December 31, 2015, the losses for all securities were considered to be a direct result of the effect that the prevailing interest rate environment had on the value of debt securities and were not related to the creditworthiness of the issuers. Further, the Company has the current intent and ability to retain its investments in the issuers for a period of time that management believes to be sufficient to allow for any anticipated recovery in fair value. Therefore, the Company did not recognize any other-than-temporary impairments as of September 30, 2016 and December 31, 2015.

Investment securities available-for-sale with a carrying value of $83.3

million and $61.3 million as of September 30, 2016 and December 31, 2015, respectively, were pledged to secure public deposits and for other purposes.

Gains realized on sales of securities available-for-sale were approximately

$0.6 million for the nine months ended September 30, 2016 and $0.4 million for the nine months ended September 30, 2015. There were no losses on sales of securities during the nine months ended September 30, 2016 or the year ended December 31, 2015.