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Securities (Tables)
 3 Months Ended
Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair values of securities at March 31, 2015 and December 31, 2014 was as follows:
 
At March 31, 2015
 
Amortized 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government agencies and corporations
$
46,265

 
$
92

 
$
(163
)
 
$
46,194

Mortgage backed securities: residential
90,474

 
1,162

 
(324
)
 
91,312

Residential collateralized mortgage obligations
31,883

 
242

 
—

 
32,125

State and political subdivisions
32,728

 
1,526

 
(37
)
 
34,217

Total Securities
$
201,350

 
$
3,022

 
$
(524
)
 
$
203,848

 
 
 
 
 
 
 
 
 
At December 31, 2014
 
Amortized 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government agencies and corporations
$
61,333

 
$
63

 
$
(634
)
 
$
60,762

Mortgage backed securities: residential
92,456

 
1,243

 
(479
)
 
93,220

Residential collateralized mortgage obligations
28,617

 
138

 
(220
)
 
28,535

State and political subdivisions
33,629

 
1,557

 
(131
)
 
35,055

Total Securities
$
216,035

 
$
3,001

 
$
(1,464
)
 
$
217,572
Amortized Cost and Fair Value of the Debt Securities Portfolio are Shown by Expected Maturity
Mortgage backed securities and collateralized mortgage obligations are not due at a single maturity date and are therefore shown separately.
 
At March 31, 2015
  
Amortized Cost
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
Due in one year or less
$
24,239

 
$
24,240

Due from one year to five years
36,918

 
37,611

Due from five years to ten years
11,741

 
12,233

Due after ten years
6,095

 
6,327

Mortgage backed securities and Residential collateralized mortgage obligations
122,357

 
123,437

 
$
201,350

 
$
203,848
Realized Gains and Losses Related to Securities Available-for-Sale
Gains or losses on the sales of available-for-sale securities are recognized upon sale and are determined using the specific identification method.
 
Three months ended March 31,
 
2015
 
2014
 
(Dollars in thousands)
Gross realized gains
$
192

 
$
—

Gross realized losses
—

 
—

Net Securities Gains
$
192

 
$
—

Proceeds from the sale of available for sale securities
$
1,920

 
$
—
Summary of Securities that had Unrealized Losses
The Corporation has the intent and the ability to hold these securities until their value recovers, which may be until maturity.
 
 
At March 31, 2015
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
(Dollars in thousands)
U.S. Government agencies and corporations
$
19,410

 
$
(90
)
 
$
4,926

 
$
(73
)
 
$
24,336

 
$
(163
)
Mortgage backed securities: residential
8,719

 
(28
)
 
18,279

 
(296
)
 
26,998

 
(324
)
State and political subdivisions
1,925

 
(5
)
 
2,270

 
(32
)
 
4,195

 
(37
)
Total
$
30,054

 
$
(123
)
 
$
25,475

 
$
(401
)
 
$
55,529

 
$
(524
)
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2014
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
(Dollars in thousands)
U.S. Government agencies and corporations
$
—

 
$
—

 
$
43,865

 
$
(634
)
 
$
43,865

 
$
(634
)
Mortgage backed securities: residential
9,472

 
(30
)
 
26,493

 
(449
)
 
35,965

 
(479
)
Residential collateralized mortgage obligations
18,414

 
(81
)
 
3,899

 
(139
)
 
22,313

 
(220
)
State and political subdivisions
1,377

 
(8
)
 
4,095

 
(123
)
 
5,472

 
(131
)
Total
$
29,263

 
$
(119
)
 
$
78,352

 
$
(1,345
)
 
$
107,615

 
$
(1,464
)