Investment securities (Tables)

6 Months Ended

Jun. 30, 2015

Amortized Cost and Fair Value of Investment Securities Aggregated by Investment Category

The amortized cost and fair value of investment securities aggregated by investment category at June 30, 2015 and December 31, 2014 are summarized as follows:


June 30 2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
U.S. Treasury securities	$	30,631	$	84	$	30	$	30,685
U.S. Government-sponsored enterprises		85,377		490		5		85,862
State and municipals:
Taxable		15,930		804		22		16,712
Tax-exempt		109,241		3,886		613		112,514
Mortgage-backed securities:
U.S. Government agencies		32,995		156		62		33,089
U.S. Government-sponsored enterprises		39,848		250		170		39,928

Total	$	314,022	$	5,670	$	902	$	318,790

Held-to-maturity:
State and municipals Tax-exempt	$	7,369	$	103	$	53	$	7,419
Mortgage-backed securities:
U.S. Government agencies		93		1				94
U.S. Government-sponsored enterprises		6,164		427				6,591

Total	$	13,626	$	531	$	53	$	14,104


December 31, 2014	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
U.S. Treasury securities	$	48,393	$	157			$	48,550
U.S. Government-sponsored enterprises		95,990		337	$	82		96,245
State and municipals:
Taxable		16,490		943		26		17,407
Tax-exempt		87,954		4,971		24		92,901
Mortgage-backed securities:
U.S. Government agencies		37,511		132		167		37,476
U.S. Government-sponsored enterprises		46,956		277		226		47,007

Total	$	333,294	$	6,817	$	525	$	339,586

Held-to-maturity:
Tax-exempt state and municipals	$	7,370	$	105	$	38	$	7,437
Mortgage-backed securities:
U.S. Government agencies		100		2				102
U.S. Government-sponsored enterprises		7,195		481				7,676

Total	$	14,665	$	588	$	38	$	15,215

Fair Value and Unrealized Losses of Investment Securities in Continuous Unrealized Loss Position

The fair value and gross unrealized losses of investment securities with unrealized losses for which an other-than-temporary impairment (“OTTI”) has not been recognized at June 30, 2015 and December 31, 2014, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, are summarized as follows:


	Less Than 12 Months				12 Months or More				Total
June 30, 2015	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury securities	$	10,044	$	30					$	10,044	$	30
U.S. Government-sponsored enterprises		3,003		5						3,003		5
State and municipals:
Taxable					$	545	$	22		545		22
Tax-exempt		44,196		636		786		30		44,982		666
Mortgage-backed securities:
U.S. Government agencies		7,457		26		5,402		36		12,859		62
U.S. Government-sponsored enterprises		13,785		68		3,721		102		17,506		170

Total	$	78,485	$	765	$	10,454	$	190	$	88,939	$	955


	Less Than 12 Months				12 Months or More				Total
December 31, 2014	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Government-sponsored enterprises	$	21,228	$	33	$	7,954	$	49	$	29,182	$	82
State and municipals:
Taxable						544		26		544		26
Tax-exempt		4,702		23		2,423		39		7,125		62
Mortgage-backed securities:
U.S. Government agencies		20,148		167						20,148		167
U.S. Government-sponsored enterprises		22,870		226						22,870		226

Total	$	68,948	$	449	$	10,921	$	114	$	79,869	$	563

Available-for-Sale Securities [Member]

Maturity Distribution of Debt Securities

The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale at June 30, 2015, is summarized as follows:


June 30, 2015	Fair Value
Within one year	$	28,289
After one but within five years		108,675
After five but within ten years		54,059
After ten years		54,750

		245,773
Mortgage-backed securities		73,017

Total	$	318,790

Held-to-maturity Securities [Member]

Maturity Distribution of Debt Securities

The maturity distribution of the amortized cost and fair value, of debt securities classified as held-to-maturity at June 30, 2015, is summarized as follows:


June 30, 2015	Amortized Cost		Fair Value
Within one year
After one but within five years	$	326	$	330
After five but within ten years		176		180
After ten years		6,867		6,909

		7,369		7,419
Mortgage-backed securities		6,257		6,685

Total	$	13,626	$	14,104