Securities (Tables)

3 Months Ended

Mar. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of Classification of Available for Sale Securities Investment

The following table summarizes the Corporation’s securities as of March 31, 2017 and December 31, 2016:

(Dollar amounts in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale:
March 31, 2017:
U.S. Treasury and federal agency	$	4,547	$	—	$	(40	)	$	4,507
U.S. government sponsored entities and agencies	9,176		—		(156		)	9,020
U.S. agency mortgage-backed securities: residential	24,841		99		(192		)	24,748
U.S. agency collateralized mortgage obligations: residential	25,423		19		(656		)	24,786
State and political subdivisions	26,406		107		(76		)	26,437
Corporate debt securities	7,511		23		(79		)	7,455
Equity securities	1,829		337		(23		)	2,143
	$	99,733	$	585	$	(1,222	)	$	99,096
December 31, 2016:
U.S. Treasury and federal agency	4,550		—		(50		)	4,500
U.S. government sponsored entities and agencies	9,186		—		(188		)	8,998
U.S. agency mortgage-backed securities: residential	25,790		32		(196		)	25,626
U.S. agency collateralized mortgage obligations: residential	25,367		23		(684		)	24,706
State and political subdivisions	27,853		17		(262		)	27,608
Corporate debt securities	8,012		5		(85		)	7,932
Equity securities	1,829		373		(12		)	2,190
	$	102,587	$	450	$	(1,477	)	$	101,560

Schedule of Contractual Maturities of Available for Sale Securities Debt Maturities

The following table summarizes scheduled maturities of the Corporation’s debt securities as of March 31, 2017. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities and collateralized mortgage obligations are not due at a single maturity and are shown separately.

(Dollar amounts in thousands)	Available for sale
	Amortized Cost		Fair Value
Due in one year or less	$	2,002	$	1,999
Due after one year through five years	23,925		23,864
Due after five through ten years	20,701		20,568
Due after ten years	1,012		988
Mortgage-backed securities: residential	24,841		24,748
Collateralized mortgage obligations: residential	25,423		24,786
	$	97,904	$	96,953

Schedule of Unrealized Loss on Investments

Information pertaining to securities with gross unrealized losses at March 31, 2017 and December 31, 2016, aggregated by investment category and length of time that individual securities have been in a continuous loss position are included in the table below:

(Dollar amounts in thousands)	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
March 31, 2017:
U.S. Treasury and federal agency	$	4,507	$	(40	)	$	—	$	—		$	4,507	$	(40	)
U.S. government sponsored entities and agencies	9,020		(156		)	—		—			9,020		(156		)
U.S. agency mortgage-backed securities: residential	13,386		(192		)	—		—			13,386		(192		)
U.S. agency collateralized mortgage obligations: residential	9,888		(225		)	13,080		(431		)	22,968		(656		)
State and political subdivisions	7,815		(76		)	—		—			7,815		(76		)
Corporate debt securities	3,932		(79		)	—		—			3,932		(79		)
Equity securities	—		—			227		(23		)	227		(23		)
	$	48,548	$	(768	)	$	13,307	$	(454	)	$	61,855	$	(1,222	)
December 31, 2016:
U.S. Treasury and federal agency	$	4,500	$	(50	)	$	—	$	—		$	4,500	$	(50	)
U.S. government sponsored entities and agencies	8,998		(188		)	—		—			8,998		(188		)
U.S. agency mortgage-backed securities: residential	23,279		(196		)	—		—			23,279		(196		)
U.S. agency collateralized mortgage obligations: residential	13,568		(438		)	9,317		(246		)	22,885		(684		)
State and political subdivisions	21,924		(262		)	—		—			21,924		(262		)
Corporate debt securities	3,927		(85		)	—		—			3,927		(85		)
Equity securities	—		—			237		(12		)	237		(12		)
	$	76,196	$	(1,219	)	$	9,554	$	(258	)	$	85,750	$	(1,477	)

Available-for-sale Securities

Gains on sales of available for sale securities for the three months ended March 31 were as follows:

(Dollar amounts in thousands)	For the three months ended March 31,
	2017		2016
Proceeds	$	—	$	3,679
Gains	—		2
Tax provision related to gains	—		1