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SECURITIES (Tables)

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of fair value of securities available for sale

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, 2018
			Gross		Gross
(Dollars in thousands)	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
U.S. Government and federal agency	$	36,509	$	—	$	(855	)	$	35,654
U.S. Treasury		1,991		—		(62	)		1,929
State and municipal		106,761		416		(1,584	)		105,593
Mortgage-backed		15,636		10		(292	)		15,354
Corporate		5,673		—		(83	)		5,590
Asset-backed securities		75		—		—			75
Total	$	166,645	$	426	$	(2,876	)	$	164,195

	December 31, 2017
				Gross		Gross
		Amortized		Unrealized		Unrealized			Fair
		Cost		Gains		Losses			Value
U.S. Government and federal agency	$	35,518	$	—	$	(392	)	$	35,126
U.S. Treasury		1,991		—		(31	)		1,960
State and municipal		99,609		910		(471	)		100,048
Mortgage-backed		9,943		8		(131	)		9,820
Corporate		5,184		2		(35	)		5,151
Equity securities		3,083		309		—			3,392
Asset-backed securities		95		—		(1	)		94
Total	$	155,423	$	1,229	$	(1,061	)	$	155,591

Schedule of contractual maturities of available for sale securities

Presented below is a schedule of maturities of securities as of March 31, 2018, the fair value of securities as of March 31, 2018 and December 31, 2017, and the weighted average yields of securities as of March 31, 2018:

	Securities maturing within:
									Fair Value		Fair Value
	Less than		1 Year -		5 Years -		More than		at March 31,		at Dec. 31,
(Dollars in thousands)	1 Year		5 Years		10 Years		10 Years		2018		2017

U.S. Government and federal agency	$	18,923	$	9,924	$	6,807	$	—	$	35,654	$	35,126
U.S. Treasury notes and bonds		—		1,929		—		—		1,929		1,960
State and municipal		10,164		50,834		41,794		2,801		105,593		100,048
Corporate		—		5,099		491		—		5,590		5,151
Asset-backed securities		75		—		—		—		75		94
Total debt securities		29,162		67,786		49,092		2,801		148,841		142,379

Mortgage-backed securities		—		11,700		3,654		—		15,354		9,820
Equity securities (1)		—		—		1,000		2,305		3,305		3,392
Total	$	29,162	$	79,486	$	53,746	$	5,106	$	167,500	$	155,591

	Weighted average yields:
	Less than			1 Year -			5 Years -			More than
	1 Year			5 Years			10 Years			10 Years			Total
U.S. Government and federal agency		2.10	%		1.78	%		2.67	%		—	%		2.12	%
U.S. Treasury notes and bonds		—			1.85			—			—			1.85
State and municipal (2)		3.35			3.07			3.51			2.16			3.25
Corporate		—			2.25			3.21			—			2.33
Asset-backed securities		1.92			—			—			—			1.92
Mortgage-backed securities		—			2.90			2.90			—			2.90
Equity securities (1)		—			—			4.78			1.08			2.20

(1) The yield is computed for tax-exempt securities on a fully tax-equivalent basis at an incremental tax rate of 21%.

(2) Equity securities are preferred and common stock that may or may not have a stated maturity.