Securities (Tables)

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses

The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:


	(In Thousands)
	March 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-Sale:
U.S. Treasury	$	33,989	$	11	$	(129	)	$	33,871
U.S. Government agency		106,374		410		(309	)		106,475
Mortgage-backed securities		27,435		621		(40	)		28,016
State and local governments		75,978		1,809		(79	)		77,708

	$	243,776	$	2,851	$	(557	)	$	246,070


	(In Thousands)
	December 13, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-Sale:
U.S. Treasury	$	25,833	$	—	$	(440	)	$	25,393
U.S. Government agency		120,154		391		(1,311	)		119,234
Mortgage-backed securities		29,067		557		(62	)		29,562
State and local governments		72,765		1,671		(133	)		74,303

	$	247,819	$	2,619	$	(1,946	)	$	248,492

Gross Unrealized Losses, Aggregated by Investment Category and Length of Time

Information pertaining to securities with gross unrealized losses at March 31, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows:


	(In Thousands)
	March 31, 2015
	Less Than Twelve Months					Twelve Months & Over
	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
U.S. Treasury	$	—		$	—	$	(129	)	$	20,464
U.S. Government agency		—			—		(309	)		56,987
Mortgage-backed securities		—			—		(40	)		4,013
State and local governments		(46	)		6,071		(33	)		3,929

Total available-for-sale securities	$	(46	)	$	6,071	$	(511	)	$	85,393


	(In Thousands)
	December 31, 2014
	Less Than Twelve Months					Twelve Months & Over
	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
U.S. Treasury	$	—		$	—	$	(440	)	$	25,393
U.S. Government agency		(1	)		5,458		(1,310	)		82,803
Mortgage-backed securities		—			—		(62	)		7,900
State and local governments		(31	)		3,442		(102	)		7,756

Total available-for-sale securities	$	(32	)	$	8,900	$	(1,914	)	$	123,852

Gross Realized Gains and Losses

Below are the gross realized gains and losses as of March 31 for each of the years presented.


	(In Thousands)
	2015		2014
Gross realized gains	$	109	$	122
Gross realized losses		—		—

Net realized gains	$	109	$	122

Tax expense related to net realized gains	$	37	$	42

Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity

The amortized cost and fair value of debt securities at March 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


	(In Thousands)
	Amortized
	Cost		Fair Value
One year or less	$	16,889	$	17,109
After one year through five years		155,066		155,808
After five years through ten years		37,255		37,854
After ten years		7,131		7,283

Total	$	216,341	$	218,054
Mortgage-backed securities		27,435		28,016

Total	$	243,776	$	246,070

- 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.

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