Securities (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2017 and December 31, 2016:

(Dollar amounts in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale:
June 30, 2017:
U.S. Treasury and federal agency	$	4,545	$	—	$	(27	)	$	4,518
U.S. government sponsored entities and agencies	12,151		3		(111		)	12,043
U.S. agency mortgage-backed securities: residential	22,303		33		(94		)	22,242
U.S. agency collateralized mortgage obligations: residential	24,538		28		(564		)	24,002
State and political subdivisions	25,662		150		(31		)	25,781
Corporate debt securities	9,512		28		(20		)	9,520
Equity securities	1,580		160		(18		)	1,722
	$	100,291	$	402	$	(865	)	$	99,828
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 June 30, 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	$	3,158	$	3,155
Due after one year through five years	27,945		27,873
Due after five through ten years	19,756		19,835
Due after ten years	1,011		999
Mortgage-backed securities: residential	22,303		22,242
Collateralized mortgage obligations: residential	24,538		24,002
	$	98,711	$	98,106

Schedule of Unrealized Loss on Investments

Information pertaining to securities with gross unrealized losses at June 30, 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
June 30, 2017:
U.S. Treasury and federal agency	$	4,518	$	(27	)	$	—	$	—		$	4,518	$	(27	)
U.S. government sponsored entities and agencies	9,054		(111		)	—		—			9,054		(111		)
U.S. agency mortgage-backed securities: residential	11,446		(94		)	—		—			11,446		(94		)
U.S. agency collateralized mortgage obligations: residential	9,481		(184		)	12,694		(380		)	22,175		(564		)
State and political subdivisions	3,863		(28		)	347		(3		)	4,210		(31		)
Corporate debt securities	4,995		(20		)	—		—			4,995		(20		)
Equity securities	—		—			231		(18		)	231		(18		)
	$	43,357	$	(464	)	$	13,272	$	(401	)	$	56,629	$	(865	)
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 and six months ended June 30 were as follows:

(Dollar amounts in thousands)	For the three months ended June 30,				For the six months ended June 30,
	2017		2016		2017		2016
Proceeds	$	18,195	$	2,439	$	18,195	$	6,118
Gains	350		81		350		83
Tax provision related to gains	119		28		119		28