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Securities (Tables)
3 Months Ended
Mar. 31, 2016
Securities  
Summary of available for sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2016

 

 

    

 

 

    

Gross

    

Gross

    

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

 

 

(Dollars in thousands)

 

Cost

 

Gains

 

Losses

 

Fair Value

 

U.S. government agencies and corporations

 

$

16,159

 

$

22

 

$

(5)

 

$

16,176

 

Mortgage-backed securities

 

 

75,044

 

 

1,245

 

 

(11)

 

 

76,278

 

Obligations of states and political subdivisions

 

 

117,999

 

 

5,898

 

 

(95)

 

 

123,802

 

 

 

$

209,202

 

$

7,165

 

$

(111)

 

$

216,256

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

 

    

 

 

    

Gross

    

Gross

    

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

 

 

(Dollars in thousands)

 

Cost

 

Gains

 

Losses

 

Fair Value

 

U.S. government agencies and corporations

 

$

18,759

 

$

 —

 

$

(258)

 

$

18,501

 

Mortgage-backed securities

 

 

76,957

 

 

513

 

 

(443)

 

 

77,027

 

Obligations of states and political subdivisions

 

 

118,389

 

 

5,640

 

 

(81)

 

 

123,948

 

 

 

$

214,105

 

$

6,153

 

$

(782)

 

$

219,476

 

 

Schedule of amortized cost and estimated fair value of securities, by contractual maturity date

 

 

 

 

 

 

 

 

 

 

March 31, 2016

 

 

    

Amortized

    

 

 

(Dollars in thousands)

 

Cost

 

Fair Value

 

Due in one year or less

 

$

26,642

 

$

26,943

 

Due after one year through five years

 

 

133,804

 

 

138,273

 

Due after five years through ten years

 

 

35,801

 

 

37,102

 

Due after ten years

 

 

12,955

 

 

13,938

 

 

 

$

209,202

 

$

216,256

 

 

Schedule of securities in an unrealized loss position

Securities in an unrealized loss position at March 31, 2016, by duration of the period of the unrealized loss, are shown below.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less Than 12 Months

 

12 Months or More

 

Total

 

 

   

Fair

   

Unrealized

   

Fair

   

Unrealized

   

Fair

   

Unrealized

 

(Dollars in thousands)

 

Value

 

Loss

 

Value

 

Loss

 

   Value   

 

Loss

 

U.S. government agencies and corporations

 

$

 —

 

$

 —

 

$

994

 

$

5

 

$

994

 

$

5

 

Mortgage-backed securities

 

 

1,969

 

 

3

 

 

2,223

 

 

8

 

 

4,192

 

 

11

 

Obligations of states and political subdivisions

 

 

2,882

 

 

17

 

 

3,816

 

 

78

 

 

6,698

 

 

95

 

Total temporarily impaired securities

 

$

4,851

 

$

20

 

$

7,033

 

$

91

 

$

11,884

 

$

111

 

 

Securities in an unrealized loss position at December 31, 2015, by duration of the period of the unrealized loss, are shown below.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less Than 12 Months

 

12 Months or More

 

Total

 

 

   

Fair

   

Unrealized

   

Fair

   

Unrealized

   

Fair

   

Unrealized

 

(Dollars in thousands)

 

Value

 

Loss

 

Value

 

Loss

 

Value

 

Loss

 

U.S. government agencies and corporations

 

$

9,530

 

$

69

 

$

8,971

 

$

189

 

$

18,501

 

$

258

 

Mortgage-backed securities

 

 

27,085

 

 

397

 

 

2,252

 

 

46

 

 

29,337

 

 

443

 

Obligations of states and political subdivisions

 

 

5,157

 

 

32

 

 

4,666

 

 

49

 

 

9,823

 

 

81

 

Total temporarily impaired securities

 

$

41,772

 

$

498

 

$

15,889

 

$

284

 

$

57,661

 

$

782