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Securities (Tables)

3 Months Ended

Mar. 31, 2017

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 at March 31, 2017 and December 31, 2016, follows:

		(In Thousands)
		March 31, 2017
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
Available-for-Sale:
U.S. Treasury		$	19,872			$	—			$	(137	)		$	19,735
U.S. Government agencies			84,252				—				(1,612	)			82,640
Mortgage-backed securities			46,728				181				(866	)			46,043
State and local governments			58,142				626				(798	)			57,970
Total available-for-sale securities		$	208,994			$	807			$	(3,413	)		$	206,388

		(In Thousands)
		December 31, 2016
						Gross				Gross
		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
Available-for-Sale:
U.S. Treasury		$	24,920			$	1			$	(146	)		$	24,775
U.S. Government agencies			84,266				3				(1,795	)			82,474
Mortgage-backed securities			49,155				185				(879	)			48,461
State and local governments			63,173				634				(990	)			62,817
Total available-for-sale securities		$	221,514			$	823			$	(3,810	)		$	218,527

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

Information pertaining to securities with gross unrealized losses at March 31, 2017 and December 31, 2016, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows:

		(In Thousands)
		March 31, 2017
		Less Than Twelve Months								Twelve Months & Over
		Gross Unrealized				Fair				Gross Unrealized				Fair
		Losses				Value				Losses				Value
U.S. Treasury		$	(137	)		$	15,721			$	—			$	—
U.S. Government agencies			(1,612	)			82,640				—				—
Mortgage-backed securities			(842	)			31,224				(24	)			3,772
State and local governments			(772	)			31,657				(26	)			1,003
Total available-for-sale securities		$	(3,363	)		$	161,242			$	(50	)		$	4,775
		(In Thousands)
		December 31, 2016
		Less Than Twelve Months								Twelve Months & Over
		Gross Unrealized				Fair				Gross Unrealized				Fair
		Losses				Value				Losses				Value
U.S. Treasury		$	(146	)		$	15,745			$	—			$	—
U.S. Government agencies			(1,795	)			77,471				—				—
Mortgage-backed securities			(879	)			36,474				—				—
State and local governments			(983	)			37,540				(7	)			526
Total available-for-sale securities		$	(3,803	)		$	167,230			$	(7	)		$	526

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)
		2017				2016
Gross realized gains		$	31			$	123
Gross realized losses			—				(10	)
Net realized gains		$	31			$	113
Tax expense related to net realized gains		$	11			$	38

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

The amortized cost and fair value of debt securities at March 31, 2017, 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		$	11,669			$	11,710
After one year through five years			85,477				85,266
After five years through ten years			61,298				59,700
After ten years			3,822				3,669
Total		$	162,266			$	160,345
Mortgage-backed securities			46,728				46,043
Total		$	208,994			$	206,388

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
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-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
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-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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