XML 70 R12.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Securities | 9 Months Ended
--- | ---
Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract] |
Securities | (4) Securities The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:
September 30, 2015 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 39,271 |  |  | $ | 234 |  |  | $ | (13 | ) |  | $ | 39,492 |
Obligations of states and political subdivisions |  |  | 87,971 |  |  |  | 4,551 |  |  |  | (143 | ) |  |  | 92,379 |
Mortgage-backed securities in government sponsored entities |  |  | 65,192 |  |  |  | 1,079 |  |  |  | (74 | ) |  |  | 66,197 |
Total debt securities |  |  | 192,434 |  |  |  | 5,864 |  |  |  | (230 | ) |  |  | 198,068 |
Equity securities in financial institutions |  |  | 481 |  |  |  | 106 |  |  |  | — |  |  |  | 587 |
Total |  | $ | 192,915 |  |  | $ | 5,970 |  |  | $ | (230 | ) |  | $ | 198,655 |
December 31, 2014 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 42,910 |  |  | $ | 115 |  |  | $ | (123 | ) |  | $ | 42,902 |
Obligations of states and political subdivisions |  |  | 83,215 |  |  |  | 5,112 |  |  |  | (306 | ) |  |  | 88,021 |
Mortgage-backed securities in government sponsored entities |  |  | 65,646 |  |  |  | 976 |  |  |  | (180 | ) |  |  | 66,442 |
Total debt securities |  |  | 191,771 |  |  |  | 6,203 |  |  |  | (609 | ) |  |  | 197,365 |
Equity securities in financial institutions |  |  | 481 |  |  |  | 59 |  |  |  | — |  |  |  | 540 |
Total |  | $ | 192,252 |  |  | $ | 6,262 |  |  | $ | (609 | ) |  | $ | 197,905 |
The amortized cost and fair value of securities at September 30, 2015, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities and equity securities are shown separately.
Available for sale |  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 4,716 |  |  | $ | 4,731 |
Due after one year through five years |  |  | 26,519 |  |  |  | 26,734 |
Due after five years through ten years |  |  | 30,616 |  |  |  | 32,110 |
Due after ten years |  |  | 65,391 |  |  |  | 68,296 |
Mortgage-backed securities |  |  | 65,192 |  |  |  | 66,197 |
Equity securities |  |  | 481 |  |  |  | 587 |
Total securities available for sale |  | $ | 192,915 |  |  | $ | 198,655 |
Proceeds from sales of securities, gross realized gains and gross realized losses were as follows.
|  | Three months ended |  |  | Nine months ended |
|  | September 30, |  |  | September 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Sale proceeds |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 18,088 |
Gross realized gains |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 113 |
Gross realized losses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Gains (losses) from securities called or settled by the issuer |  |  | (5 | ) |  |  | 1 |  |  |  | (5 | ) |  |  | 1 |
Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $148,557 and $137,898 as of September 30, 2015 and December 31, 2014, respectively. Securities with unrealized losses at September 30, 2015 and December 31, 2014 not recognized in income are as follows:
September 30, 2015 |  | 12 Months or less |  |  | More than 12 months |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
Description of Securities |  | Value |  |  | Loss |  |  | Value |  |  | Loss |  |  | Value |  |  | Loss |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 2,037 |  |  | $ | — |  |  | $ | 1,192 |  |  | $ | (13 | ) |  | $ | 3,229 |  |  | $ | (13 | )
Obligations of states and political subdivisions |  |  | 7,866 |  |  |  | (93 | ) |  |  | 1,466 |  |  |  | (50 | ) |  |  | 9,332 |  |  |  | (143 | )
Mortgage-backed securities in gov’t sponsored entities |  |  | 6,156 |  |  |  | (37 | ) |  |  | 7,649 |  |  |  | (37 | ) |  |  | 13,805 |  |  |  | (74 | )
Total temporarily impaired |  | $ | 16,059 |  |  | $ | (130 | ) |  | $ | 10,307 |  |  | $ | (100 | ) |  | $ | 26,366 |  |  | $ | (230 | )
December 31, 2014 |  | 12 Months or less |  |  | More than 12 months |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
Description of Securities |  | Value |  |  | Loss |  |  | Value |  |  | Loss |  |  | Value |  |  | Loss |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 7,664 |  |  | $ | (17 | ) |  | $ | 11,888 |  |  | $ | (106 | ) |  | $ | 19,552 |  |  | $ | (123 | )
Obligations of states and political subdivisions |  |  | 853 |  |  |  | (11 | ) |  |  | 5,647 |  |  |  | (295 | ) |  |  | 6,500 |  |  |  | (306 | )
Mortgage-backed securities in gov’t sponsored entities |  |  | 12,289 |  |  |  | (29 | ) |  |  | 11,492 |  |  |  | (151 | ) |  |  | 23,781 |  |  |  | (180 | )
Total temporarily impaired |  | $ | 20,806 |  |  | $ | (57 | ) |  | $ | 29,027 |  |  | $ | (552 | ) |  | $ | 49,833 |  |  | $ | (609 | )
At September 30, 2015, there were thirty securities in the portfolio with unrealized losses mainly due to higher market rates when compared to the time of purchase. Unrealized losses on securities have not been recognized into income because the issuers’ securities are of high credit quality, management has the intent and ability to hold these securities for the foreseeable future, and the decline in fair value is largely due to market yields increasing across the municipal sector. The fair value is expected to recover as the securities approach their maturity date or reset date. The Company does not intend to sell until recovery and does not believe selling will be required before recovery.

X
- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27198-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration