SECURITIES (Tables)

9 Months Ended

Sep. 30, 2017

SECURITIES [Abstract]

Amortized Cost and Fair Value of Investment Securities, by Category

Amortized cost and fair value of investment securities, by category, at September 30, 2017 are summarized as follows:

2017	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Available for sale
Mortgage-backed securities
U. S. sponsored agency MBS - residential	$	199,483	$	1,028	$	(578	)	$	199,933
U. S. sponsored agency CMO's - residential		56,330		553		(369	)		56,514
Total mortgage-backed securities of government sponsored agencies		255,813		1,581		(947	)		256,447
U. S. government sponsored agency securities		19,344		5		(74	)		19,275
Obligations of states and political subdivisions		13,346		140		(5	)		13,481
Total available for sale	$	288,503	$	1,726	$	(1,026	)	$	289,203

Amortized cost and fair value of investment securities, by category, at December 31, 2016 are summarized as follows:

2016	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Available for sale
Mortgage-backed securities
U. S. sponsored agency MBS - residential	$	177,105	$	245	$	(3,173	)	$	174,177
U. S. sponsored agency CMO's - residential		73,163		761		(657	)		73,267
Total mortgage-backed securities of government sponsored agencies		250,268		1,006		(3,830	)		247,444
U. S. government sponsored agency securities		24,652		23		(174	)		24,501
Obligations of states and political subdivisions		16,645		111		(94	)		16,662
Total available for sale	$	291,565	$	1,140	$	(4,098	)	$	288,607

Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at September 30, 2017 by contractual maturity are shown below.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
Available for sale
Due in one year or less	$	9,687	$	9,701
Due after one year through five years		17,073		17,070
Due after five years through ten years		5,375		5,430
Due after ten years		555		555
Mortgage-backed securities of government sponsored agencies		255,813		256,447
Total available for sale	$	288,503	$	289,203

Securities with Unrealized Losses in Continuous Unrealized Loss Position

Securities with unrealized losses at September 30, 2017 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:

	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S government sponsored agency securities	$	17,242	$	(74	)	$	-	$	-		$	17,242	$	(74	)
U.S government sponsored agency MBS – residential		56,820		(429	)		5,234		(149	)		62,054		(578	)
U.S government sponsored agency CMO's – residential		11,256		(129	)		11,184		(240	)		22,440		(369	)
Obligations of states and political subdivisions		619		(4	)		775		(1	)		1,394		(5	)
Total temporarily impaired	$	85,937	$	(636	)	$	17,193	$	(390	)	$	103,130	$	(1,026	)

Securities with unrealized losses at December 31, 2016 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:

	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S government sponsored agency securities	$	17,207	$	(174	)	$	-	$	-		$	17,207	$	(174	)
U.S government sponsored agency MBS – residential		157,022		(3,173	)		-		-			157,022		(3,173	)
U.S government sponsored agency CMO's – residential		18,374		(373	)		8,750		(284	)		27,124		(657	)
Obligations of states and political subdivisions		7,961		(94	)		-		-			7,961		(94	)
Total temporarily impaired	$	200,564	$	(3,814	)	$	8,750	$	(284	)	$	209,314	$	(4,098	)