Securities (Tables)

9 Months Ended

Sep. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and fair value of securities

Amortized cost and fair value of securities at September 30, 2018, and December 31, 2017, were as follows:



In thousands	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

SECURITIES AVAILABLE FOR SALE

SEPTEMBER 30, 2018
U.S. Government and agencies	$	125,594	$	—	$	3,518	$	122,076
Mortgage-backed securities, residential	31,676		107		692		31,091
State and municipal	9,819		54		83		9,790
	$	167,089	$	161	$	4,293	$	162,957

DECEMBER 31, 2017
U.S. Government and agencies	$	105,899	$	2	$	1,818	$	104,083
Mortgage-backed securities, residential	34,473		461		101		34,833
State and municipal	13,227		109		42		13,294
Corporate bonds	5,000		57		—		5,057
CRA mutual fund	1,044		—		9		1,035
Stock in other banks	647		102		—		749
	$	160,290	$	731	$	1,970	$	159,051

SECURITIES HELD TO MATURITY

SEPTEMBER 30, 2018
U.S. Government and agencies	$	12,000	$	—	$	117	$	11,883
Mortgage-backed securities, residential	21,517		—		633		20,884
	$	33,517	$	—	$	750	$	32,767
DECEMBER 31, 2017
U.S. Government and agencies	$	19,000	$	2	$	99	$	18,903
Mortgage-backed securities, residential	25,829		55		238		25,646
	$	44,829	$	57	$	337	$	44,549

The required fair value disclosures are as follows:



In thousands	Fair Value at January 1, 2018		Unrealized Gains		Unrealized Losses		Fair Value at September 30, 2018
SEPTEMBER 30, 2018
Equity securities with a readily determinable fair value	$	1,793	$	31	$	81	$	1,743

Schedule of unrealized losses and fair value

The following table shows the Corporation’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2018, and December 31, 2017:



	Less than 12 Months				12 Months or More				Total
In thousands	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

SECURITIES AVAILABLE FOR SALE

SEPTEMBER 30, 2018
U.S. Government and agencies	$	44,842	$	771	$	76,734	$	2,747	$	121,576	$	3,518
Mortgage-backed securities, residential	20,998		493		4,517		199		25,515		692
State and municipal	1,397		19		1,911		64		3,308		83
	$	67,237	$	1,283	$	83,162	$	3,010	$	150,399	$	4,293

DECEMBER 31, 2017
U.S. Government and agencies	$	42,775	$	445	$	58,279	$	1,373	$	101,054	$	1,818
Mortgage-backed securities, residential	7,228		56		2,845		45		10,073		101
State and municipal	1,042		8		1,950		34		2,992		42
CRA Mutual Fund	—		—		1,035		9		1,035		9
	$	51,045	$	509	$	64,109	$	1,461	$	115,154	$	1,970

SECURITIES HELD TO MATURITY

SEPTEMBER 30, 2018
U.S. Government and agencies	$	2,955	$	45	$	8,928	$	72	$	11,883	$	117
Mortgage-backed securities, residential	11,386		243		9,498		390		20,884		633
	$	14,341	$	288	$	18,426	$	462	$	32,767	$	750

DECEMBER 31, 2017
U.S. Government and agencies	$	4,985	$	15	$	10,916	$	84	$	15,901	$	99
Mortgage-backed securities, residential	4,946		29		11,070		209		16,016		238
	$	9,931	$	44	$	21,986	$	293	$	31,917	$	337

Schedule of amortized cost and fair value by contractual maturity

Amortized cost and fair value at September 30, 2018, by contractual maturity, where applicable, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay with or without penalties.



	Available for Sale				Held to Maturity
In thousands	Amortized Cost		Fair Value		Amortized Cost		Fair Value

1 year or less	$	10,050	$	10,013	$	6,000	$	5,980
Over 1 year through 5 years	121,477		118,020		6,000		5,903
Over 5 years through 10 years	3,886		3,833		—		—
Over 10 years	—		—		—		—
Mortgage-backed securities, residential	31,676		31,091		21,517		20,884
	$	167,089	$	162,957	$	33,517	$	32,767