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Securities (Tables)
12 Months Ended
Dec. 31, 2014
Securities [Abstract]  
Book values and approximate fair values of investment securities

The book values and approximate fair values of investment securities at December 31, 2014 and 2013 are summarized as follows:

 

 

2014 

 

2013  

 

Amortized

 

Fair

 

Unrealized

 

Amortized

 

Fair

 

Unrealized

($ in thousands)

 

Cost

 

Value

 

Gains

 

(Losses)

 

Cost

 

Value

 

Gains

 

(Losses)

                     

Securities available for sale:

                               

  Government-sponsored enterprise securities

  $ 27,546   27,521   33   (58)   18,432   18,245   32   (219)

  Mortgage-backed securities

  130,073   129,510   751   (1,314)   148,646   147,187   1,415   (2,874)

  Corporate bonds

  1,000   865  

-

  (135)   3,999   3,598   44   (445)

  Equity securities

  6,105   6,138   46   (13)   3,984   4,011   40   (13)

Total available for sale

  $ 164,724   164,034   830   (1,520)   175,061   173,041   1,531   (3,551)
               

Securities held to maturity:

               

  Mortgage-backed securities

  $ 124,924   124,861   45   (108)  

-

 

-

 

-

 

-

  State and local governments

  53,763   57,550   3,787  

-

  53,995   56,700   2,709   (4)

Total held to maturity

  $ 178,687   182,411   3,832   (108)   53,995   56,700   2,709   (4)
Schedule of information regarding securities with unrealized losses

The following table presents information regarding securities with unrealized losses at December 31, 2014:

 


($ in thousands)

 

Securities in an Unrealized

Loss Position for
Less than 12 Months

 

Securities in an Unrealized

Loss Position for
More than 12 Months

 

    Total

 


Fair Value

 

Unrealized
Losses

 

  Fair Value

 

Unrealized

Losses

 

Fair Value

 

Unrealized

Losses

Government-sponsored enterprise securities

  $ 5,489   11   2,953   47   8,442   58

Mortgage-backed securities

  69,985   318   33,557   1,104   103,542   1,422

Corporate bonds

 

 

  865   135   865   135

Equity securities

 

 

  17   13   17   13

State and local governments

 

 

 

 

 

 

Total temporarily impaired securities

  $ 75,474   329   37,392   1,299   112,866   1,628

 

The following table presents information regarding securities with unrealized losses at December 31, 2013:

 


($ in thousands)

 

Securities in an Unrealized

Loss Position for
Less than 12 Months

 

Securities in an Unrealized

Loss Position for
More than 12 Months

 

    Total

 


Fair Value

 

Unrealized
Losses

 

  Fair Value

 

Unrealized

Losses

 

Fair Value

 

Unrealized

Losses

Government-sponsored enterprise securities

  $ 12,212   219  

 

 

 

  12,212   219

Mortgage-backed securities

  64,937   1,675   17,979   1,199   82,916   2,874

Corporate bonds

 

 

  555   445   555   445

Equity securities

 

 

  22   13   22   13

State and local governments

  992   4  

 

  992   4

Total temporarily impaired securities

  $ 78,141   1,898   18,556   1,657   96,697   3,555
           
Schedule of book values and approximate fair values of investment securities by contractual maturity
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.

 

 

Securities Available for Sale

 

Securities Held to Maturity

 

Amortized

 

Fair

 

Amortized

 

Fair

($ in thousands)

 

Cost

 

Value

 

Cost

 

Value

       

Debt securities

               

Due within one year

  $  

  $ 100   103

Due after one year but within five years

  27,546   27,521   10,829   11,539

Due after five years but within ten years

 

 

  38,385   41,190

Due after ten years

  1,000   865   4,449   4,718

Mortgage-backed securities

  130,073   129,510   124,924   124,861

Total debt securities

  158,619   157,896   178,687   182,411
       

Equity securities

  6,105   6,138  

-

 

-

Total securities

  $ 164,724   164,034   $ 178,687   182,411