XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Investment securities | 3 Months Ended
--- | ---
Mar. 31, 2016
Investment securities |
Investment securities | 4. Investment securities: The amortized cost and fair value of investment securities aggregated by investment category at March 31, 2016 and December 31, 2015 are summarized as follows:
|  |  |  |  | Gross |  | Gross |  |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair |
March 31, 2016 |  | Cost |  | Gains |  | Losses |  | Value |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government-sponsored enterprises |  | $ | 64,562 |  | $ | 499 |  | $ | 7 |  | $ | 65,054 |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  | 14,801 |  |  | 993 |  |  | 11 |  |  | 15,783 |
Tax-exempt |  |  | 120,232 |  |  | 3,815 |  |  | 33 |  |  | 124,014 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | 29,156 |  |  | 97 |  |  | 45 |  |  | 29,208 |
U.S. Government-sponsored enterprises |  |  | 30,078 |  |  | 145 |  |  | 107 |  |  | 30,116 |
Total |  | $ | 258,829 |  | $ | 5,549 |  | $ | 203 |  | $ | 264,175 |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt state and municipals |  | $ | 6,864 |  | $ | 333 |  | $ | 1 |  | $ | 7,196 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | 81 |  |  | 1 |  |  |  |  |  | 82 |
U.S. Government-sponsored enterprises |  |  | 4,736 |  |  | 308 |  |  |  |  |  | 5,044 |
Total |  | $ | 11,681 |  | $ | 642 |  | $ | 1 |  | $ | 12,322 |
|  |  |  |  | Gross |  | Gross |  |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair |
December 31, 2015 |  | Cost |  | Gains |  | Losses |  | Value |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 10,030 |  |  |  |  | $ | 31 |  | $ | 9,999 |
U.S. Government-sponsored enterprises |  |  | 68,831 |  | $ | 291 |  |  | 62 |  |  | 69,060 |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  | 15,842 |  |  | 735 |  |  | 32 |  |  | 16,545 |
Tax-exempt |  |  | 121,099 |  |  | 3,915 |  |  | 90 |  |  | 124,924 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | 31,612 |  |  | 73 |  |  | 117 |  |  | 31,568 |
U.S. Government-sponsored enterprises |  |  | 32,928 |  |  | 119 |  |  | 208 |  |  | 32,839 |
Total |  | $ | 280,342 |  | $ | 5,133 |  | $ | 540 |  | $ | 284,935 |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |
Tax-exempt state and municipals |  | $ | 6,865 |  | $ | 186 |  | $ | 16 |  | $ | 7,035 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | 84 |  |  | 1 |  |  |  |  |  | 85 |
U.S. Government-sponsored enterprises |  |  | 5,160 |  |  | 326 |  |  |  |  |  | 5,486 |
Total |  |  | 12,109 |  | $ | 513 |  | $ | 16 |  | $ | 12,606 |
The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale at March 31, 2016, is summarized as follows:
|  | Fair |
March 31, 2016 |  | Value |
Within one year |  | $ | 26,168 |
After one but within five years |  |  | 91,064 |
After five but within ten years |  |  | 49,258 |
After ten years |  |  | 38,361 |
|  |  | 204,851 |
Mortgage-backed securities |  |  | 59,324 |
Total |  | $ | 264,175 |
The maturity distribution of the amortized cost and fair value, of debt securities classified as held-to-maturity at March 31, 2016, is summarized as follows:
|  | Amortized |  | Fair |
March 31, 2016 |  | Cost |  | Value |
Within one year |  |  |  |  |  |  |
After one but within five years |  |  |  |  |  |  |
After five but within ten years |  |  |  |  |  |  |
After ten years |  | $ | 6,864 |  | $ | 7,196 |
|  |  | 6,864 |  |  | 7,196 |
Mortgage-backed securities |  |  | 4,817 |  |  | 5,126 |
Total |  | $ | 11,681 |  | $ | 12,322 |
Securities with a carrying value of $163,514 and $180,478 at March 31, 2016 and December 31, 2015, respectively, were pledged to secure public deposits and repurchase agreements as required or permitted by law. Securities and short-term investment activities are conducted with a diverse group of government entities, corporations and state and local municipalities. The counterparty’s creditworthiness and type of collateral is evaluated on a case-by-case basis. At March 31, 2016 and December 31, 2015, there were no significant concentrations of credit risk from any one issuer, with the exception of U.S. Government agencies and sponsored enterprises that exceeded 10.0 percent of stockholders’ equity. 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 March 31, 2016 and December 31, 2015, 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 |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
March 31, 2016 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses |
U.S. Government-sponsored enterprises |  | $ | 10,987 |  | $ | 7 |  |  |  |  |  |  |  | $ | 10,987 |  | $ | 7 |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  |  |  |  |  |  | $ | 551 |  | $ | 11 |  |  | 551 |  |  | 11 |
Tax-exempt |  |  | 14,675 |  |  | 29 |  |  | 1,366 |  |  | 5 |  |  | 16,041 |  |  | 34 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | 5,435 |  |  | 11 |  |  | 5,164 |  |  | 34 |  |  | 10,599 |  |  | 45 |
U.S. Government-sponsored enterprises |  |  | 13,479 |  |  | 27 |  |  | 2,902 |  |  | 80 |  |  | 16,381 |  |  | 107 |
Total |  | $ | 44,576 |  | $ | 74 |  | $ | 9,983 |  | $ | 130 |  | $ | 54,559 |  | $ | 204 |
|  | Less Than 12 Months |  | 12 Months or More |  | Total |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
December 31, 2015 |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses |
U.S. Treasury securities |  | $ | 9,999 |  | $ | 31 |  |  |  |  |  |  |  | $ | 9,999 |  | $ | 31 |
U.S. Government-sponsored enterprises |  |  | 34,159 |  |  | 62 |  |  |  |  |  |  |  |  | 34,159 |  |  | 62 |
State and municipals: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxable |  |  |  |  |  |  |  | $ | 532 |  | $ | 32 |  |  | 532 |  |  | 32 |
Tax-exempt |  |  | 21,341 |  |  | 87 |  |  | 1,952 |  |  | 19 |  |  | 23,293 |  |  | 106 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  |  | 15,114 |  |  | 56 |  |  | 5,477 |  |  | 61 |  |  | 20,591 |  |  | 117 |
U.S. Government-sponsored enterprises |  |  | 17,647 |  |  | 104 |  |  | 6,030 |  |  | 104 |  |  | 23,677 |  |  | 208 |
Total |  | $ | 98,260 |  | $ | 340 |  | $ | 13,991 |  | $ | 216 |  | $ | 112,251 |  | $ | 556 |
The Company had 60 investment securities, consisting of 31 tax-exempt state and municipal obligations, one taxable state and municipal obligation, three U.S. Government-sponsored enterprise securities, and 25 mortgage-backed securities that were in unrealized loss positions at March 31, 2016. Of these securities, one taxable state and municipal obligation, six mortgage-backed securities and three tax-exempt state and municipal securities were in a continuous unrealized loss position for twelve months or more. Management does not consider the unrealized losses on the debt securities, as a result of changes in interest rates, to be OTTI based on historical evidence that indicates the cost of these securities is recoverable within a reasonable period of time in relation to normal cyclical changes in the market rates of interest. Moreover, because there has been no material change in the credit quality of the issuers or other events or circumstances that may cause a significant adverse impact on the fair value of these securities, and management does not intend to sell these securities and it is unlikely that the Company will be required to sell these securities before recovery of their amortized cost basis, which may be maturity, the Company does not consider the unrealized losses to be OTTI at March 31, 2016. There was no OTTI recognized for the three months ended March 31, 2016 and 2015. The Company had 88 investment securities, consisting of 38 tax-exempt state and municipal obligations, one taxable state and municipal obligation, one U.S. Treasury security, 12 U.S. Government-sponsored enterprise securities and 36 mortgage-backed securities that were in unrealized loss positions at December 31, 2015. Of these securities, seven mortgage-backed securities, four tax-exempt state and municipal securities, and one taxable state and municipal obligation were in a continuous unrealized loss position for twelve months or more.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration