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Securities
 6 Months Ended
Jun. 30, 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:

 

   June 30, 2015
(Dollars in thousands)  Amortized
Cost		  Gross
Unrealized
Gains		  Gross
Unrealized
Losses		  Fair
Value
U.S. Government and federal agency  $52,238   $132   $(124)  $52,246 
U.S. Treasury   8,066    45    (14)   8,097 
State and municipal   70,117    1,455    (377)   71,195 
Mortgage-backed   7,948    48    (35)   7,961 
Corporate   7,463    22    (11)   7,474 
Foreign debt   1,000    —    —    1,000 
Equity securities   2,279    399    —    2,678 
Asset-backed securities   324    —    (1)   323 
Total  $149,435   $2,101   $(562)  $150,974 
      
   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 six months ended June 30, 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.