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INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2016
INVESTMENT SECURITIES [Abstract]  
Summary of amortized cost and fair value of investment securities
The amortized cost, gross unrealized gains and losses, and fair value of investment securities at December 31, 2016 and 2015 were as follows (in thousands):
     
Gross
  
Gross
    
  
Amortized
  
Unrealized
  
Unrealized
  
Fair
 
2016
 
Cost
  
Gains
  
Losses
  
Value
 
Available-for-sale securities:
            
  U.S. Agency securities
 
$
170,276
  
$
407
  
$
(269
)
 
$
170,414
 
  U.S. Treasuries
  
2,999
   
1
   
-
   
3,000
 
  Obligations of state and
                
    political subdivisions
  
95,956
   
1,463
   
(493
)
  
96,926
 
  Corporate obligations
  
3,000
   
50
   
-
   
3,050
 
  Mortgage-backed securities in
                
    government sponsored entities
  
37,987
   
88
   
(347
)
  
37,728
 
  Equity securities in financial institutions
  
1,821
   
1,078
   
-
   
2,899
 
Total available-for-sale securities
 
$
312,039
  
$
3,087
  
$
(1,109
)
 
$
314,017
 
                 
2015
                
Available-for-sale securities:
                
  U.S. Agency securities
 
$
199,749
  
$
369
  
$
(527
)
 
$
199,591
 
  U.S. Treasuries
  
10,103
   
-
   
(21
)
  
10,082
 
  Obligations of state and
                
    political subdivisions
  
99,856
   
3,080
   
(73
)
  
102,863
 
  Corporate obligations
  
14,583
   
68
   
(86
)
  
14,565
 
  Mortgage-backed securities in
                
    government sponsored entities
  
30,107
   
186
   
(89
)
  
30,204
 
  Equity securities in financial institutions
  
2,001
   
436
   
(5
)
  
2,432
 
Total available-for-sale securities
 
$
356,399
  
$
4,139
  
$
(801
)
 
$
359,737
 
Unrealized losses and fair value of investments
The following table shows 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 December 31, 2016 and 2015 (in thousands).  As of December 31, 2016, the Company owned 88 securities whose fair value was less than their cost basis.
 
 
Less than Twelve Months
  
Twelve Months or Greater
  
Total
 
     
Gross
     
Gross
     
Gross
 
  
Fair
  
Unrealized
  
Fair
  
Unrealized
  
Fair
  
Unrealized
 
2016
 
Value
  
Losses
  
Value
  
Losses
  
Value
  
Losses
 
U.S. Agency securities
 
$
50,947
  
$
(269
)
 
$
-
  
$
-
  
$
50,947
  
$
(269
)
Obligations of states and
                        
     political subdivisions
  
28,398
   
(472
)
  
767
   
(21
)
  
29,165
   
(493
)
Mortgage-backed securities in
                        
     government sponsored entities
  
26,717
   
(330
)
  
753
   
(17
)
  
27,470
   
(347
)
    Total securities
 
$
106,062
  
$
(1,071
)
 
$
1,520
  
$
(38
)
 
$
107,582
  
$
(1,109
)
                         
2015
                        
U.S. Agency securities
 
$
123,591
  
$
(527
)
 
$
-
  
$
-
  
$
123,591
  
$
(527
)
U.S. Treasuries
  
10,082
   
(21
)
  
-
   
-
   
10,082
   
(21
)
Obligations of states and
                        
     political subdivisions
  
7,023
   
(57
)
  
2,914
   
(16
)
  
9,937
   
(73
)
Corporate obligations
  
5,822
   
(61
)
  
2,138
   
(25
)
  
7,960
   
(86
)
Mortgage-backed securities in
                        
     government sponsored entities
  
9,830
   
(77
)
  
227
   
(12
)
  
10,057
   
(89
)
  Equity securities in financial institutions
  
106
   
(5
)
  
-
   
-
   
106
   
(5
)
    Total securities
 
$
156,454
  
$
(748
)
 
$
5,279
  
$
(53
)
 
$
161,733
  
$
(801
)
Gross gains and losses on available-for-sale securities
Gross gains and gross losses were realized as follows (in thousands):
 
 
2016
  
2015
  
2014
 
Gross gains
 
$
312
  
$
440
  
$
647
 
Gross losses
  
(57
)
  
(11
)
  
(31
)
Net gains
 
$
255
  
$
429
  
$
616
 
Summary of amortized cost and fair value of debt securities by contractual maturity
The amortized cost and fair value of debt securities at December 31, 2016, by contractual maturity are shown below (in thousands). Municipal securities that have been refunded and will therefore pay-off on the call date are reflected in the table below utilizing the call date as the date of repayment as payment is guaranteed on that day:
  
Amortized
    
 
 
Cost
  
Fair Value
 
Available-for-sale securities:
      
  Due in one year or less
 
$
44,331
  
$
44,484
 
  Due after one year through five years
  
155,199
   
156,177
 
  Due after five years through ten years
  
38,363
   
38,305
 
  Due after ten years
  
72,325
   
72,152
 
Total
 
$
310,218
  
$
311,118