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Securities (Tables)
12 Months Ended
Dec. 31, 2015
Trading Securities [Abstract]  
Amortized Cost and Approximate Fair Values, Together with Gross Unrealized Gains and Losses of Securities
The amortized cost and approximate fair values, together with gross unrealized gains and losses of securities are as follows:
 
 
 
 
 
Gross
 
Gross
 
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Approximate
 
 
 
Cost
 
Gains
 
Losses
 
Fair Value
 
 
 
(In thousands)
 
Available-for-sale Securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2015:
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
$
32,000
 
$
11
 
$
(50)
 
$
31,961
 
State and political subdivisions
 
 
2,637
 
 
25
 
 
 
 
2,662
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
34,637
 
$
36
 
$
(50)
 
$
34,623
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale Securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014:
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agencies
 
$
14,443
 
$
4
 
$
(67)
 
$
14,380
 
State and political subdivisions
 
 
4,841
 
 
105
 
 
––
 
 
4,946
 
Equity securities
 
 
4
 
 
18
 
 
––
 
 
22
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
19,288
 
$
127
 
$
(67)
 
$
19,348
 
 
 
 
 
 
Gross
 
Gross
 
Approximate
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair Value
 
 
 
Cost
 
Gains
 
Losses
 
 
 
 
 
(In thousands)
 
Held-to-maturity Securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014:
 
 
 
 
 
 
 
 
 
 
 
 
 
State and political subdivisions
 
$
450
 
$
1
 
$
––
 
$
451
 
Amortized Cost and Fair Value of Available-for-Sale Securities and Held-to-Maturity Securities, by Contractual Maturity
The amortized cost and fair value of available-for-sale securities and held-to-maturity securities at December 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Maturities for mortgage-backed securities are presented in the table below based on their projected maturities.
 
 
 
Available-for-sale
 
 
 
Amortized
 
Fair
 
 
 
Cost
 
Value
 
 
 
(In thousands)
 
 
 
 
 
 
 
Within one year
 
$
624
 
$
632
 
One to five years
 
 
33,014
 
 
32,989
 
Five to ten years
 
 
999
 
 
1,002
 
 
 
 
 
 
 
 
 
Totals
 
$
34,637
 
$
34,623
 
Investments' Gross Unrealized Losses and Fair Value, Aggregated by Investment Category and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position
The following tables show the Company’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 December 31, 2015 and 2014:
 
 
 
 
 
December 31, 2015
 
 
 
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
Description of
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Securities
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
 
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
US Government agencies
 
$
23,950
 
$
(50)
 
$
 
$
 
$
23,950
 
$
(50)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
 
$
23,950
 
$
(50)
 
$
 
$
 
$
23,950
 
$
(50)
 
 
 
 
 
 
December 31, 2014
 
 
 
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
Description of
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Securities
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
 
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
US Government agencies
 
$
1,141
 
$
(2)
 
$
5,935
 
$
(65)
 
$
7,076
 
$
(67)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total temporarily impaired securities
 
$
1,141
 
$
(2)
 
$
5,935
 
$
(65)
 
$
7,076
 
$
(67)