Securities (Tables)

12 Months Ended

Dec. 31, 2016

Available-for-sale Securities [Abstract]

Available-for-sale Securities

The amortized cost, unrealized gains, unrealized losses and estimated fair values of securities at December 31, 2016 and 2015, are summarized as follows:

	December 31, 2016
	Amortized		Unrealized
Dollars in thousands	Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities
U.S. Government and agencies and corporations	$	14,580	$	642	$	48	$	15,174
Residential mortgage-backed securities:
Government-sponsored agencies	138,451		1,554		1,159		138,846
Nongovernment-sponsored entities	4,631		44		22		4,653
Corporate debt securities	18,295		23		148		18,170
Total taxable debt securities	175,957		2,263		1,377		176,843
Tax-exempt debt securities
State and political subdivisions
General obligations	49,449		569		1,388		48,630
Water and sewer revenues	9,087		63		149		9,001
Lease revenues	9,037		7		201		8,843
Electric revenues	3,247		10		48		3,209
Sales tax revenues	2,870		—		34		2,836
Other revenues	17,321		93		371		17,043
Total tax-exempt debt securities	91,011		742		2,191		89,562
Equity securities	137		—		—		137
Total available for sale securities	$	267,105	$	3,005	$	3,568	$	266,542

	December 31, 2015
	Amortized		Unrealized
Dollars in thousands	Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities
U.S. Government and agencies and corporations	$	20,461	$	1,063	$	49	$	21,475
Residential mortgage-backed securities:
Government-sponsored agencies	145,586		1,943		795		146,734
Nongovernment-sponsored entities	7,836		82		33		7,885
State and political subdivisions
Water and sewer revenues	250		—		—		250
Other revenues	1,729		—		26		1,703
Corporate debt securities	14,494		—		268		14,226
Total taxable debt securities	190,356		3,088		1,171		192,273
Tax-exempt debt securities
State and political subdivisions
General obligations	52,490		1,767		41		54,216
Water and sewer revenues	7,614		172		—		7,786
Lease revenues	8,671		187		1		8,857
Special tax revenues	4,532		72		—		4,604
Other revenues	12,703		290		14		12,979
Total tax-exempt debt securities	86,010		2,488		56		88,442
Equity securities	77		—		—		77
Total available for sale securities	$	276,443	$	5,576	$	1,227	$	280,792

Summary Of Volume of State and Political Subdivision Securities Held in Portfolio

We own no such securities of any single issuer which we deem to be a concentration.

	December 31, 2016
	Amortized		Unrealized
Dollars in thousands	Cost		Gains		Losses		Fair Value
Michigan	$	15,100	$	7	$	520	$	14,587
Illinois	9,316		181		112		9,385
Texas	8,710		14		257		8,467
West Virginia	8,413		17		64		8,366
California	8,248		115		264		8,099

Schedule of Realized Gain (Loss)

The proceeds from sales, calls and maturities of available for sale securities, including principal payments received on mortgage-backed obligations, and the related gross gains and losses realized are as follows:

Dollars in thousands	Proceeds from						Gross realized
			Calls and		Principal
Years ended December 31,	Sales		Maturities		Payments		Gains		Losses
2016	$	72,453	$	3,235	$	35,881	$	1,422	$	295
2015	69,632		2,043		38,502		1,732		288
2014	80,914		4,051		34,390		1,037		824

Investments Classified by Contractual Maturity Date

The maturities, amortized cost and estimated fair values of securities at December 31, 2016, are summarized as follows:

Dollars in thousands	Amortized Cost		Fair Value
Due in one year or less	$	53,236	$	53,659
Due from one to five years	91,067		91,536
Due from five to ten years	16,049		15,992
Due after ten years	106,616		105,218
Equity securities	137		137
Total	$	267,105	$	266,542

Schedule of Unrealized Loss on Investments

Provided below is a summary of securities available for sale which were in an unrealized loss position at December 31, 2016 and 2015.

	2016
	Less than 12 months					12 months or more					Total
Dollars in thousands	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Temporarily impaired securities
Taxable debt securities
U.S. Government agencies and corporations	$	763	$	(5	)	$	2,575	$	(43	)	$	3,338	$	(48	)
Residential mortgage-backed securities:
Government-sponsored agencies	55,388		(985		)	8,389		(174		)	63,777		(1,159		)
Nongovernment-sponsored entities	97		—			3,013		(22		)	3,110		(22		)
Corporate debt securities	968		(31		)	3,136		(117		)	4,104		(148		)
Tax-exempt debt securities
State and political subdivisions:
General obligations	33,115		(1,388		)	—		—			33,115		(1,388		)
Water and sewer revenues	4,761		(149		)	—		—			4,761		(149		)
Lease revenues	7,011		(201		)	—		—			7,011		(201		)
Electric revenues	1,973		(48		)	—		—			1,973		(48		)
Sales tax revenues	2,836		(34		)	—		—			2,836		(34		)
Other revenues	8,445		(371		)	—		—			8,445		(371		)
Total temporarily impaired securities	115,357		(3,212		)	17,113		(356		)	132,470		(3,568		)
Total	$	115,357	$	(3,212	)	$	17,113	$	(356	)	$	132,470	$	(3,568	)

	2015
	Less than 12 months					12 months or more					Total
Dollars in thousands	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Temporarily impaired securities
Taxable debt securities
U.S. Government agencies and corporations	$	2,104	$	(2	)	$	3,151	$	(47	)	$	5,255	$	(49	)
Residential mortgage-backed securities:
Government-sponsored agencies	52,970		(569		)	8,672		(226		)	61,642		(795		)
Nongovernment-sponsored entities	2,298		—			2,819		(33		)	5,117		(33		)
State and political subdivisions:
Other revenues	1,702		(26		)	—		—			1,702		(26		)
Corporate debt securities	8,367		(268		)	—		—			8,367		(268		)
Tax-exempt debt securities
State and political subdivisions:
General obligations	5,977		(41		)	—		—			5,977		(41		)
Lease revenues	576		(1		)	—		—			576		(1		)
Other revenues	1,218		(14		)	—		—			1,218		(14		)
Total temporarily impaired securities	75,212		(921		)	14,642		(306		)	89,854		(1,227		)
Total	$	75,212	$	(921	)	$	14,642	$	(306	)	$	89,854	$	(1,227	)