XML 55 R35.htm IDEA: XBRL DOCUMENT v3.6.0.2
INVESTMENT SECURITIES (Tables)
12 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Portfolio of Available-for-Sale Investment Securities
The portfolio of securities consisted of the following (in thousands):
 
 
December 31, 2016
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Available-for-sale:
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
29,935

 
$
226

 
$
1,020

 
$
29,141

GSE mortgage-backed securities
 
72,144

 
1,736

 
302

 
73,578

Collateralized mortgage obligations: residential
 
223,602

 
206

 
3,606

 
220,202

Collateralized mortgage obligations: commercial
 
3,135

 

 
53

 
3,082

Mutual funds
 
2,100

 

 
41

 
2,059

Corporate debt securities
 
13,500

 
311

 

 
13,811

 
 
$
344,416

 
$
2,479

 
$
5,022

 
$
341,873


 
 
December 31, 2015
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Available-for-sale:
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
30,750

 
$
770

 
$
27

 
$
31,493

GSE mortgage-backed securities
 
84,946

 
2,321

 
229

 
87,038

Collateralized mortgage obligations: residential
 
194,067

 
297

 
2,276

 
192,088

Collateralized mortgage obligations: commercial
 
5,512

 
1

 
65

 
5,448

Mutual funds
 
2,100

 

 
8

 
2,092

 
 
$
317,375

 
$
3,389

 
$
2,605

 
$
318,159

Portfolio of Held-to-Maturity Securities
 
 
December 31, 2016
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Held-to-maturity:
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
40,515

 
$
309

 
$
39

 
$
40,785

GSE mortgage-backed securities
 
44,375

 
426

 
311

 
44,490

Collateralized mortgage obligations: residential
 
8,969

 

 
323

 
8,646

Collateralized mortgage obligations: commercial
 
4,352

 

 
12

 
4,340

 
 
$
98,211

 
$
735

 
$
685

 
$
98,261

 
 
December 31, 2015
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Held-to-maturity:
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
43,737

 
$
697

 
$
6

 
$
44,428

GSE mortgage-backed securities
 
55,696

 
705

 
131

 
56,270

Collateralized mortgage obligations: residential
 
10,803

 

 
361

 
10,442

Collateralized mortgage obligations: commercial
 
6,556

 
2

 

 
6,558

 
 
$
116,792

 
$
1,404

 
$
498

 
$
117,698

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).  Actual maturities may differ from contractual maturities because of rights to call or repay obligations with or without penalties and scheduled and unscheduled principal payments on mortgage-backed securities and collateralized mortgage obligations.
 
 
Amortized Cost
 
Fair Value
Available-for-sale:
 
 
 
 
Due in one year or less
 
$
2,166

 
$
2,179

Due after one year through five years
 
11,341

 
11,540

Due after five years through ten years
 
49,661

 
51,053

Due after ten years
 
279,148

 
275,042

 
 
$
342,316

 
$
339,814


 
 
Amortized Cost
 
Fair Value
Held-to-maturity:
 
 
 
 
Due in one year or less
 
$
347

 
$
347

Due after one year through five years
 
6,427

 
6,445

Due after five years through ten years
 
32,837

 
33,310

Due after ten years
 
58,600

 
58,159

 
 
$
98,211

 
$
98,261

Schedule of Investment Securities with Unrealized Losses
Details concerning investment securities with unrealized losses are as follows (in thousands):
 
 
December 31, 2016
 
 
Securities with losses
under 12 months
 
Securities with losses
over 12 months
 
Total
 
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
13,402

 
$
1,020

 
$

 
$

 
$
13,402

 
$
1,020

GSE mortgage-backed securities
 
29,119

 
302

 

 

 
29,119

 
302

Collateralized mortgage  obligations: residential
 
187,235

 
3,099

 
14,194

 
507

 
201,429

 
3,606

Collateralized mortgage  obligations: commercial
 
961

 
4

 
2,121

 
49

 
3,082

 
53

Mutual funds
 
2,059

 
41

 

 

 
2,059

 
41

 
 
$
232,776

 
$
4,466

 
$
16,315

 
$
556

 
$
249,091

 
$
5,022


 
 
December 31, 2015
 
 
Securities with losses
under 12 months
 
Securities with losses
over 12 months
 
Total
 
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
Available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
1,192

 
$
27

 
$

 
$

 
$
1,192

 
$
27

GSE mortgage-backed securities
 
21,607

 
229

 

 

 
21,607

 
229

Collateralized mortgage  obligations: residential
 
140,999

 
1,207

 
30,029

 
1,069

 
171,028

 
2,276

Collateralized mortgage  obligations: commercial
 

 

 
2,946

 
65

 
2,946

 
65

Mutual funds
 
2,092

 
8

 

 

 
2,092

 
8

 
 
$
165,890

 
$
1,471

 
$
32,975

 
$
1,134

 
$
198,865

 
$
2,605

 
 
December 31, 2016
 
 
Securities with losses
under 12 months
 
Securities with losses
over 12 months
 
Total
 
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
8,054

 
$
39

 
$

 
$

 
$
8,054

 
$
39

GSE mortgage-backed securities
 
19,408

 
311

 

 

 
19,408

 
311

Collateralized mortgage obligations: residential
 

 

 
8,645

 
323

 
8,645

 
323

Collateralized mortgage obligations: commercial
 
$
4,340

 
$
12

 

 

 
4,340

 
12

 
 
$
31,802

 
$
362

 
$
8,645

 
$
323

 
$
40,447

 
$
685


 
 
December 31, 2015
 
 
Securities with losses
under 12 months
 
Securities with losses
over 12 months
 
Total
 
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
 
Fair
Value
 
Gross
Unrealized
Loss
Held-to-maturity:
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
541

 
$
1

 
$
505

 
$
5

 
$
1,046

 
$
6

GSE mortgage-backed securities
 

 

 
7,021

 
131

 
7,021

 
131

Collateralized mortgage obligations: residential
 

 

 
10,442

 
361

 
10,442

 
361

 
 
$
541

 
$
1

 
$
17,968

 
$
497

 
$
18,509

 
$
498