XML 31 R11.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Securities | 12 Months Ended
--- | ---
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract] |
Securities | NOTE 3 - SECURITIES The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive loss were as follows:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 40,992 |  |  | $ | 74 |  |  | $ | (129 | ) |  | $ | 40,937 |
Obligations of states and political subdivisions |  |  | 87,255 |  |  |  | 4,959 |  |  |  | (62 | ) |  |  | 92,152 |
Mortgage-back securities in government sponsored entities |  |  | 62,135 |  |  |  | 681 |  |  |  | (243 | ) |  |  | 62,573 |
Total debt securities |  |  | 190,382 |  |  |  | 5,714 |  |  |  | (434 | ) |  |  | 195,662 |
Equity securities in financial institutions |  |  | 481 |  |  |  | 106 |  |  |  | — |  |  |  | 587 |
Total |  | $ | 190,863 |  |  | $ | 5,820 |  |  | $ | (434 | ) |  | $ | 196,249 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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-back 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 year end 2015 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.
|  | Available for sale |
|  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 5,075 |  |  | $ | 5,078 |
Due from one to five years |  |  | 31,433 |  |  |  | 31,442 |
Due from five to ten years |  |  | 31,754 |  |  |  | 33,606 |
Due after ten years |  |  | 59,985 |  |  |  | 62,963 |
Mortgage-backed securities in government sponsored entities |  |  | 62,135 |  |  |  | 62,573 |
Equity securities in financial institutions |  |  | 481 |  |  |  | 587 |
Total |  | $ | 190,863 |  |  | $ | 196,249 |
Securities with a carrying value of $142,888 and $137,898 were pledged as of December 31, 2015 and 2014, respectively, to secure public deposits, other deposits and liabilities as required or permitted by law. Proceeds from sales of securities, gross realized gains and gross realized losses were as follows:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Sale proceeds |  | $ | — |  |  | $ | 18,088 |  |  | $ | 8,686 |
Gross realized gains |  |  | — |  |  |  | 113 |  |  |  | 144 |
Gross realized losses |  |  | — |  |  |  | (1 | ) |  |  | (89 | )
Gains (losses) from securities called or settled by the issuer |  |  | (18 | ) |  |  | 1 |  |  |  | 149 |
Debt securities with unrealized losses at year end 2015 and 2014 not recognized in income are as follows:
|  | 12 Months or less |  |  | More than 12 months |  |  | Total |
2015 |  | 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 |  | $ | 25,464 |  |  | $ | (112 | ) |  | $ | 1,132 |  |  | $ | (17 | ) |  | $ | 26,596 |  |  | $ | (129 | )
Obligations of states and political subdivisions |  |  | 2,932 |  |  |  | (20 | ) |  |  | 1,469 |  |  |  | (42 | ) |  |  | 4,401 |  |  |  | (62 | )
Mortgage-backed securities in gov’t sponsored entities |  |  | 27,263 |  |  |  | (172 | ) |  |  | 5,041 |  |  |  | (71 | ) |  |  | 32,304 |  |  |  | (243 | )
Total temporarily impaired |  | $ | 55,659 |  |  | $ | (304 | ) |  | $ | 7,642 |  |  | $ | (130 | ) |  | $ | 63,301 |  |  | $ | (434 | )
|  | 12 Months or less |  |  | More than 12 months |  |  | Total |
2014 |  | 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 | )
The Company periodically evaluates securities for other-than-temporary impairment. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. Unrealized losses that are determined to be temporary in nature are recorded, net of tax, in accumulated other comprehensive loss on the Consolidated Balance Sheet. The Company has assessed each available-for-sale security position for credit impairment. Factors considered in determining whether a loss is temporary include:
| • |  | The length of time and the extent to which fair value has been below cost;
| • |  | The severity of impairment;
| • |  | The cause of the impairment and the financial condition and near-term prospects of the issuer;
| • |  | If the Company intends to sell the investment;
| • |  | If it’s more-likely-than-not the Company will be required to sell the investment before recovering its amortized cost basis; and
| • |  | If the Company does not expect to recover the investment’s entire amortized cost basis (even if the Company does not intend to sell the investment).
The Company’s review for impairment generally entails:
| • |  | Identification and evaluation of investments that have indications of impairment;
| • |  | Analysis of individual investments that have fair values less than amortized cost, including consideration of length of time each investment has been in unrealized loss position and the expected recovery period;
| • |  | Evaluation of factors or triggers that could cause individual investments to qualify as having other-than-temporary impairment; and
| • |  | Documentation of these analyses, as required by policy.
At December 31, 2015, the Company owned 50 securities that were considered temporarily impaired. The unrealized losses on these securities have not been recognized into income because the issuers’ bonds 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 changes in market interest rates. The Company also considers sector specific credit rating changes in its analysis. 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