Securities Portfolio (Tables)

12 Months Ended

Dec. 31, 2015

Securities Portfolio [Abstract]

Amortized costs and fair value of securities held-to-maturity

The amortized cost and fair value, with gross unrealized gains and losses, of securities held-to-maturity were:

December 31, 2014	Carrying Value		Unamortized Unrealized Transfer Losses		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
Obligations of  U.S. Government agencies	$	100	$	0	$	100	$	0	$	(3	)	$	97
Obligations of state and political subdivisions		29,529		0		29,529		449		(18	)		29,960
Mortgage-backed securities		60,460		5,131		65,591		0		(1,242	)		64,349
Total	$	90,089	$	5,131	$	95,220	$	449	$	(1,263	)	$	94,406

The Company had no held-to-maturity-securities at December 31, 2015 due to a decision in February of 2016 to transfer the portfolio to available-for-sale to allow for greater liquidity and flexibility in the future. Although the decision was made after December 31, 2015, the transfer was effective dated back to year-end as the primary difference between held-to-maturity and available-for-sale is management's intent to hold the securities to maturity. The transfer in 2016 demonstrated a change in management's intent as of year-end.

Amortized costs and fair value of securities available-for-sale

The amortized cost and fair value, with gross unrealized gains and losses, of securities available-for-sale were:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
December 31, 2015
U.S. Treasury securities	$	0	$	0	$	0		$	0
Obligations of U.S. Government agencies		24,353		1		(114	)		24,240
Obligations of state and political subdivisions		77,223		1,323		(113	)		78,433
Mortgage-backed securities		109,360		0		(1,964	)		107,396
Money market investments		631		0		0			631
Corporate bonds and other securities		3,397		4		(8	)		3,393
Other marketable equity securities		100		0		(1	)		99
Total	$	215,064	$	1,328	$	(2,200	)	$	214,192
December 31, 2014
U.S. Treasury securities	$	20,000	$	0	$	0		$	20,000
Obligations of  U.S. Government agencies		4,768		2		(152	)		4,618
Obligations of state and political subdivisions		49,783		698		(235	)		50,246
Mortgage-backed securities		61,296		34		(442	)		60,888
Money market investments		719		0		0			719
Corporate bonds and other securities		2,798		3		(11	)		2,790
Other marketable equity securities		100		0		(15	)		85
Total	$	139,464	$	737	$	(855	)	$	139,346

Amortized cost and fair value of securities by contractual maturity

The amortized cost and fair value of securities by contractual maturity are shown below.

	December 31, 2015
	Available-for-Sale
	Amortized Cost			Fair Value
	(in thousands)
Due in one year or less		$	20,500		$	20,501
Due after one year through five years			17,853			18,074
Due after five years through ten years			23,505			23,936
Due after ten years			152,475			150,951
Total debt securities			214,333			213,462
Other securities without stated maturities			731			730
Total securities		$	215,064		$	214,192

Information about securities sold

The following table provides information about securities sold in the years ended December 31:

	2015			2014
	(in thousands)
Proceeds from sales		$	23,005		$	38,653
Gross realized gains		$	76		$	276
Gross realized losses		$	0		$	274

Available-for-sale securities and Held-to-maturity securities, continuous unrealized loss position

The following table shows the number of securities with unrealized losses, the gross unrealized losses and fair value of the Company's investments with unrealized losses that are deemed to be temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of the dates indicated:

	December 31, 2015
	Less Than Twelve Months						More Than Twelve Months						Total
	Gross Unrealized Losses			Fair Value			Gross Unrealized Losses			Fair Value			Gross Unrealized Losses			Fair Value			Number of Securities
	(dollars in thousands)
Securities Available-for-Sale
Obligations of U.S. Government agencies		$	0		$	0		$	114		$	3,940		$	114		$	3,940		2
Obligations of state and political subdivisions			42			4,177			71			3,545			113			7,722		13
Mortgage-backed securities			848			62,698			1,116			44,698			1,964			107,396		13
Corporate bonds and other securities			6			2,091			2			198			8			2,289		16
Other marketable equity securities			1			99			0			0			1			99		1
Total securities available-for-sale		$	897		$	69,065		$	1,303		$	52,381		$	2,200		$	121,446		45

	December 31, 2014
	Less Than Twelve Months				More Than Twelve Months				Total
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Number of Securities
	(dollars in thousands)
Securities Available-for-Sale
Obligations of U. S. Government agencies	$	0	$	0	$	152	$	4,316	$	152	$	4,316		1
Obligations of state and political subdivisions		2		604		233		11,951		235		12,555		24
Mortgage-backed securities		62		16,589		380		32,104		442		48,693		6
Corporate bonds and other securities		3		1,096		8		792		11		1,888		14
Other marketable equity securities		15		85		0		0		15		85		1
Total securities available-for-sale	$	82	$	18,374	$	773	$	49,163	$	855	$	67,537		46
Securities Held-to-Maturity
Obligations of U. S. Government agencies	$	0	$	0	$	3	$	97	$	3	$	97		1
Obligations of state and political subdivisions		2		1,261		16		1,203		18		2,464		6
Mortgage-backed securities		0		0		1,242		64,349		1,242		64,349		6
Total securities held-to-maturity	$	2	$	1,261	$	1,261	$	65,649	$	1,263	$	66,910		13
Total	$	84	$	19,635	$	2,034	$	114,812	$	2,118	$	134,447		59