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Securities | 3 Months Ended
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Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract] |
Securities | NOTE 2 - SECURITIES The fair value of securities available for sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:
|  | March 31, 2015
(Dollars in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Government and federal agency |  | $ | 49,521 |  |  | $ | 240 |  |  | $ | (14 | ) |  | $ | 49,747 |
U.S. Treasury |  |  | 8,071 |  |  |  | 62 |  |  |  | (12 | ) |  |  | 8,121 |
State and municipal |  |  | 70,864 |  |  |  | 2,159 |  |  |  | (78 | ) |  |  | 72,945 |
Mortgage-backed |  |  | 8,470 |  |  |  | 89 |  |  |  | (5 | ) |  |  | 8,554 |
Corporate |  |  | 7,517 |  |  |  | 69 |  |  |  | (4 | ) |  |  | 7,582 |
Foreign debt |  |  | 1,000 |  |  |  | 1 |  |  |  | — |  |  |  | 1,001 |
Equity securities |  |  | 2,280 |  |  |  | 28 |  |  |  | — |  |  |  | 2,308 |
Asset-backed securities |  |  | 350 |  |  |  | — |  |  |  | (1 | ) |  |  | 349 |
Total |  | $ | 148,073 |  |  | $ | 2,648 |  |  | $ | (114 | ) |  | $ | 150,607 |
|  | December 31, 2014
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Government and federal agency |  | $ | 44,584 |  |  | $ | 77 |  |  | $ | (158 | ) |  | $ | 44,503 |
U.S. Treasury |  |  | 8,077 |  |  |  | 11 |  |  |  | (30 | ) |  |  | 8,058 |
State and municipal |  |  | 68,376 |  |  |  | 1,697 |  |  |  | (238 | ) |  |  | 69,835 |
Mortgage-backed |  |  | 8,896 |  |  |  | 68 |  |  |  | (22 | ) |  |  | 8,942 |
Corporate |  |  | 7,529 |  |  |  | 25 |  |  |  | (16 | ) |  |  | 7,538 |
Foreign debt |  |  | 1,000 |  |  |  | — |  |  |  | (6 | ) |  |  | 994 |
Equity securities |  |  | 2,280 |  |  |  | — |  |  |  | (5 | ) |  |  | 2,275 |
Asset-backed securities |  |  | 378 |  |  |  | — |  |  |  | (2 | ) |  |  | 376 |
Total |  | $ | 141,120 |  |  | $ | 1,878 |  |  | $ | (477 | ) |  | $ | 142,521 |
ChoiceOne reviews its securities portfolio on a quarterly basis to determine whether unrealized losses are considered to be temporary or other-than-temporary. No other-than-temporary impairment charges were recorded in the first quarter of 2015. ChoiceOne believed that unrealized losses on securities were temporary in nature and were due to changes in interest rates and reduced market liquidity and not as a result of credit quality issues.

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