Securities (Tables)

6 Months Ended

Jun. 30, 2017

Cash and Cash Equivalents [Abstract]

Securities available for sale at June 30, 2017 and December 31, 2016 are as follows:


	June 30, 2017									December 31, 2016
	Amortized		Unrealized					Fair		Amortized		Unrealized					Fair
	Cost		Gains		Losses			Value		Cost		Gains		Losses			Value
U.S. Gov’t sponsored entities	$	127,616	$	1,034	$	(174	)	$	128,476	$	139,823	$	1,107	$	(579	)	$	140,351
State & political subdivisions		143,886		5,444		(279	)		149,051		153,492		4,194		(649	)		157,037
Residential & multi-family mortgage		117,039		774		(1,032	)		116,781		136,807		551		(2,382	)		134,976
Corporate notes & bonds		18,612		108		(500	)		18,220		18,299		77		(962	)		17,414
Pooled trust preferred		0		0		0			0		800		1,249		0			2,049
Pooled SBA		39,736		424		(595	)		39,565		43,450		505		(918	)		43,037
Other equity securities		1,020		0		(48	)		972		1,020		0		(49	)		971

Total	$	447,909	$	7,784	$	(2,628	)	$	453,065	$	493,691	$	7,683	$	(5,539	)	$	495,835

Trading Securities

Trading securities at June 30, 2017 and December 31, 2016 are as follows:


	June 30, 2017		December 31, 2016
Corporate equity securities	$	3,987	$	3,312
Mutual funds		1,244		1,037
Certificates of deposit		211		202
Corporate notes and bonds		256		254
U.S. Government sponsored entities		53		53

Total	$	5,751	$	4,858

Securities with Unrealized Losses Aggregated by Investment Category and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position

Securities with 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 unrealized loss position, are as follows (in thousands):

June 30, 2017


	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. Gov’t sponsored entities	$	59,087	$	(174	)	$	0	$	(0	)	$	59,087	$	(174	)
State & political subdivisions		5,866		(86	)		272		(193	)		6,138		(279	)
Residential & multi-family mortgage		41,306		(376	)		33,844		(656	)		75,150		(1,032	)
Corporate notes & bonds		0		(0	)		8,993		(500	)		8,993		(500	)
Pooled SBA		4,991		(69	)		19,146		(526	)		24,137		(595	)
Other equity securities		0		(0	)		972		(48	)		972		(48	)

	$	111,250	$	(705	)	$	63,227	$	(1,923	)	$	174,477	$	(2,628	)

December 31, 2016


	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. Gov’t sponsored entities	$	90,380	$	(579	)	$	0	$	(0	)	$	90,380	$	(579	)
State & political subdivisions		32,353		(448	)		264		(201	)		32,617		(649	)
Residential and multi-family mortgage		65,598		(1,255	)		34,611		(1,127	)		100,209		(2,382	)
Corporate notes & bonds		2,089		(11	)		8,476		(951	)		10,565		(962	)
Pooled SBA		6,481		(126	)		20,560		(792	)		27,041		(918	)
Other equity securities		0		(0	)		971		(49	)		971		(49	)

	$	196,901	$	(2,419	)	$	64,882	$	(3,120	)	$	261,783	$	(5,539	)

Roll-Forward of Other-Than-Temporary Impairment Amount Related to Credit Losses

A roll-forward of the other-than-temporary impairment amount related to credit losses for the three and six months ended June 30, 2017 and 2016 is as follows:


	2017			2016
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, beginning of period	$	2,071		$	4,054
Credit losses previously recognized on securities sold during the period		(2,071	)		(1,983	)
Additional credit loss for which other-than-temporary impairment was not previously recognized		0			0
Additional credit loss for which other-than-temporary impairment was previously recognized		0			0

Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, end of period	$	0		$	2,071

Information Pertaining to Security Sales

Information pertaining to security sales on available for sale securities is as follows:


	Proceeds		Gross Gains		Gross Losses
Three months ended June 30, 2017	$	5,434	$	155	$	0
Three months ended June 30, 2016	$	4,420	$	1,005	$	0
Six months ended June 30, 2017	$	7,618	$	1,538	$	0
Six months ended June 30, 2016	$	4,420	$	1,005	$	0

Schedule of Contractual Maturity of Securities Available for Sale, Excluding Equity Securities

The following is a schedule of the contractual maturity of securities available for sale, excluding equity securities, at June 30, 2017:


	Amortized		Fair
	Cost		Value
1 year or less	$	47,977	$	47,728
1 year – 5 years		170,873		174,756
5 years – 10 years		63,058		64,999
After 10 years		8,206		8,264

		290,114		295,747
Residential and multi-family mortgage		117,039		116,781
Pooled SBA		39,736		39,565

Total debt securities	$	446,889	$	452,093

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details