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SECURITIES (Tables)

12 Months Ended

Dec. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Unrealized Gain (Loss) on Investments

Amortized cost and fair value at December 31, 2018 and 2017, were as follows:

In thousands	Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
SECURITIES AVAILABLE FOR SALE
December 31, 2018
U.S. Government and agencies	$	120,420			$	142			$	2,149			$	118,413
Mortgage-backed securities, residential	33,960				194				343				33,811
State and municipal	9,482				60				36				9,506
	$	163,862			$	396			$	2,528			$	161,730
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
	$	158,599			$	629			$	1,961			$	157,267
SECURITIES HELD TO MATURITY
December 31, 2018
U.S. Government and agencies	$	7,000			$	—			$	69			$	6,931
Mortgage-backed securities, residential	20,266				4				290				19,980
	$	27,266			$	4			$	359			$	26,911
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 December 31, 2018
DECEMBER 31, 2018
CRA Mutual Fund		$	1,044			$	—			$	32			$	1,012
Stock in other banks		749				247				169				827
		$	1,793			$	247			$	201			$	1,839

Amortized cost and fair value disclosures of equity securities prior to ASU 2016-01 implementation are as follows:

In thousands		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
DECEMBER 31, 2017
CRA Mutual Fund		$	1,044			$	—			$	9			$	1,035
Stock in other banks		647				102				—				749
		$	1,691			$	102			$	9			$	1,784

Schedule of Unrealized Loss on Investments

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 December 31, 2018 and 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
December 31, 2018
U.S. Government and agencies	$	1,997			$	5			$	87,216			$	2,144			$	89,213			$	2,149
Mortgage-backed securities, residential	9,410				134				8,586				209				17,996				343
State and municipal	—				—				2,696				36				2,696				36
	$	11,407			$	139			$	98,498			$	2,389			$	109,905			$	2,528
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
December 31, 2018
U.S. Government and agencies	$	2,975			$	25			$	3,956			$	44			$	6,931			$	69
Mortgage-backed securities, residential	5,408				59				12,636				231				18,044				290
	$	8,383			$	84			$	16,592			$	275			$	24,975			$	359
December 31, 2017
U.S. Government and agencies	$	4,985			$	15			$	10,916			$	84			$	15,901			$	99
Mortgage-backed security, residential	4,946				29				11,070				209				16,016				238
	$	9,931			$	44			$	21,986			$	293			$	31,917			$	337

Investments Classified by Contractual Maturity Date

Amortized cost and fair value at December 31, 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	$	8,483			$	8,439			$	3,000			$	2,970
Over 1 year through 5 years	121,220				119,284				4,000				3,961
Over 5 years through 10 years	199				196				—				—
Over 10 years	—				—				—				—
Mortgage-backed securities, residential	33,960				33,811				20,266				19,980
	$	163,862			$	161,730			$	27,266			$	26,911

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563

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Tabular disclosure of unrealized gains and losses on investments.

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