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Securities (Tables)

9 Months Ended

Sep. 30, 2016

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)
		September 30, 2016
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
Available-for-Sale:
U.S. Treasury		$	30,962			$	97			$	—			$	31,059
U.S. Government agencies			99,161				502				(9	)			99,654
Mortgage-backed securities			29,986				408				(4	)			30,390
State and local governments			61,893				1,488				(11	)			63,370
Total available-for-sale securities		$	222,002			$	2,495			$	(24	)		$	224,473

		(In Thousands)
		December 31, 2015
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
Available-for-Sale:
U.S. Treasury		$	38,778			$	36			$	(309	)		$	38,505
U.S. Government agencies			99,000				55				(835	)			98,220
Mortgage-backed securities			26,157				283				(116	)			26,324
State and local governments			70,858				1,290				(82	)			72,066
Total available-for-sale securities		$	234,793			$	1,664			$	(1,342	)		$	235,115

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

Information pertaining to securities with gross unrealized losses at September 30, 2016 and December 31, 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows:

		(In Thousands)
		September 30, 2016
		Less Than Twelve Months								Twelve Months & Over
		Gross Unrealized				Fair				Gross Unrealized				Fair
		Losses				Value				Losses				Value
U.S. Government agencies		$	(9	)		$	2,981			$	—			$	—
Mortgage-backed securities			(4	)			4,492				—				—
State and local governments			(8	)			1,040				(3	)			827
Total available-for-sale securities		$	(21	)		$	8,513			$	(3	)		$	827

		(In Thousands)
		December 31, 2015
		Less Than Twelve Months								Twelve Months & Over
		Gross Unrealized				Fair				Gross Unrealized				Fair
		Losses				Value				Losses				Value
U.S. Treasury		$	(142	)		$	23,241			$	(167	)		$	10,195
U.S. Government agencies			(635	)			68,957				(200	)			9,793
Mortgage-backed securities			(60	)			6,331				(56	)			3,580
State and local governments			(54	)			7,920				(28	)			1,725
Total available-for-sale securities		$	(891	)		$	106,449			$	(451	)		$	25,293

Gross Realized Gains and Losses

Below are the gross realized gains and losses as of September 30 for each of the years presented.

		(In Thousands)
		2016				2015
Gross realized gains		$	513			$	418
Gross realized losses			(10	)			—
Net realized gains		$	503			$	418
Tax expense related to net realized gains		$	171			$	142

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

The amortized cost and fair value of debt securities at September 30, 2016, 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		$	16,638			$	16,660
After one year through five years			119,625				120,549
After five years through ten years			52,489				53,310
After ten years			3,264				3,564
Total		$	192,016			$	194,083
Mortgage-backed securities			29,986				30,390
Total		$	222,002			$	224,473

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- Definition

Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities.

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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=73527792&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=73527792&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=73527792&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=73527792&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=73527792&loc=d3e27290-111563

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Tabular disclosure of realized gains and losses on investments reported in the statement of income.

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