Investment Securities

3 Months Ended

Mar. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note 3 – Investment Securities

The following table provides information on the amortized cost and estimated fair values of investment securities.

			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
Available-for-sale securities:
March 31, 2016
U.S. Treasury	$	5,045	$	5	$	-	$	5,050
U.S. Government agencies		49,490		163		145		49,508
Mortgage-backed		150,090		1,713		278		151,525
Equity		641		11		-		652
Total	$	205,266	$	1,892	$	423	$	206,735

December 31, 2015
U.S. Treasury	$	5,078	$	1	$	-	$	5,079
U.S. Government agencies		49,630		89		190		49,529
Mortgage-backed		156,939		639		662		156,916
Equity		637		4		-		641
Total	$	212,284	$	733	$	852	$	212,165

Held-to-maturity securities:
March 31, 2016
U.S. Government agencies	$	2,380	$	-	$	9	$	2,371
States and political subdivisions		1,616		121		-		1,737
Total	$	3,996	$	121	$	9	$	4,108

December 31, 2015
U.S. Government agencies	$	2,575	$	-	$	60	$	2,515
States and political subdivisions		1,616		112		-		1,728
Total	$	4,191	$	112	$	60	$	4,243

The following tables provide information about gross unrealized losses and fair value by length of time that the individual securities have been in a continuous unrealized loss position at March 31, 2016 and December 31, 2015.

	Less than 12 Months				More than 12 Months				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
March 31, 2016
Available-for-sale securities:
U.S. Government agencies	$	13,998	$	19	$	-	$	126	$	13,998	$	145
Mortgage-backed		12,460		45		17,476		233		29,936		278
Total	$	26,458	$	64	$	17,476	$	359	$	43,934	$	423

Held-to-maturity securities:
U.S. Government agencies	$	2,371	$	9	$	-	$	-	$	2,371	$	9

	Less than 12 Months				More than 12 Months				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
December 31, 2015
Available-for-sale securities:
U.S. Government agencies	$	18,981	$	57	$	-	$	133	$	18,981	$	190
Mortgage-backed		43,881		328		21,263		334		65,144		662
Total	$	62,862	$	385	$	21,263	$	467	$	84,125	$	852

Held-to-maturity securities:
U.S. Government agencies	$	-	$	-	$	2,515	$	60	$	2,515	$	60

All of the securities with unrealized losses in the portfolio have modest duration risk, low credit risk, and minimal losses when compared to total amortized cost. The unrealized losses on debt securities that exist are the result of market changes in interest rates since original purchase. Because the Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost bases, which may be at maturity for debt securities, the Company considers the unrealized losses to be temporary.

The following table provides information on the amortized cost and estimated fair values of investment securities by maturity date at March 31, 2016.

	Available for sale				Held to maturity
	Amortized		Estimated		Amortized		Estimated
(Dollars in thousands)	Cost		Fair Value		Cost		Fair Value
Due in one year or less	$	17,665	$	17,694	$	-	$	-
Due after one year through five years		34,086		34,149		711		753
Due after five years through ten years		10,715		10,766		402		450
Due after ten years		142,159		143,474		2,883		2,905
		204,625		206,083		3,996		4,108
Equity securities		641		652		-		-
Total	$	205,266	$	206,735	$	3,996	$	4,108

The maturity dates for debt securities are determined using contractual maturity dates.

- Definition

The entire disclosure for investments in certain debt and equity securities.

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