Securities (Tables)

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of Classification of Available for Sale Securities Investment

The following table summarizes the Corporation’s debt securities as of March 31, 2018 and December 31, 2017:

(Dollar amounts in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2018:
U.S. Treasury and federal agency	$	4,538	$	—	$	(111	)	$	4,427
U.S. government sponsored entities and agencies	14,126		—		(387		)	13,739
U.S. agency mortgage-backed securities: residential	23,957		4		(495		)	23,466
U.S. agency collateralized mortgage obligations: residential	22,204		33		(904		)	21,333
State and political subdivisions	25,265		10		(480		)	24,795
Corporate debt securities	8,508		15		(67		)	8,456
	$	98,598	$	62	$	(2,444	)	$	96,216
December 31, 2017:
U.S. Treasury and federal agency	4,541		—		(69		)	4,472
U.S. government sponsored entities and agencies	14,136		2		(212		)	13,926
U.S. agency mortgage-backed securities: residential	20,904		7		(153		)	20,758
U.S. agency collateralized mortgage obligations: residential	22,607		25		(708		)	21,924
State and political subdivisions	29,249		87		(96		)	29,240
Corporate debt securities	9,009		38		(17		)	9,030
	$	100,446	$	159	$	(1,255	)	$	99,350

The following table summarizes scheduled maturities of the Corporation’s debt securities as of March 31, 2018. 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	$	3,350	$	3,336
Due after one year through five years	26,768		26,231
Due after five through ten years	18,825		18,454
Due after ten years	3,494		3,396
Mortgage-backed securities: residential	23,957		23,466
Collateralized mortgage obligations: residential	22,204		21,333
	$	98,598	$	96,216

Schedule of Unrealized Loss on Investments

Information pertaining to debt securities with gross unrealized losses at March 31, 2018 and December 31, 2017, 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, 2018:
U.S. Treasury and federal agency	$	—	$	—		$	4,427	$	(111	)	$	4,427	$	(111	)
U.S. government sponsored entities and agencies	4,866		(125		)	8,873		(262		)	13,739		(387		)
U.S. agency mortgage-backed securities: residential	13,565		(289		)	6,256		(206		)	19,821		(495		)
U.S. agency collateralized mortgage obligations: residential	1,935		(7		)	17,567		(897		)	19,502		(904		)
State and political subdivisions	18,824		(412		)	2,387		(68		)	21,211		(480		)
Corporate debt securities	2,942		(65		)	500		(2		)	3,442		(67		)
	$	42,132	$	(898	)	$	40,010	$	(1,546	)	$	82,142	$	(2,444	)
December 31, 2017:
U.S. Treasury and federal agency	$	—	$	—		$	4,472	$	(69	)	$	4,472	$	(69	)
U.S. government sponsored entities and agencies	3,447		(42		)	8,975		(170		)	12,422		(212		)
U.S. agency mortgage-backed securities: residential	9,659		(48		)	6,581		(105		)	16,240		(153		)
U.S. agency collateralized mortgage obligations: residential	954		(16		)	19,147		(692		)	20,101		(708		)
State and political subdivisions	10,510		(60		)	3,487		(36		)	13,997		(96		)
Corporate debt securities	2,992		(16		)	999		(1		)	3,991		(17		)
	$	27,562	$	(182	)	$	43,661	$	(1,073	)	$	71,223	$	(1,255	)

Available-for-sale Securities

Losses on sales of securities for the three months ended March 31 were as follows:

(Dollar amounts in thousands)	For the three months ended March 31,
	2018			2017
Proceeds	$	6,531		$	—
Losses	(29		)	—
Tax provision related to losses	(6		)	—