XML 45 R31.htm IDEA: XBRL DOCUMENT
v3.3.1.900

INVESTMENT SECURITIES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
INVESTMENT SECURITIES [Abstract] |
Summary of amortized cost and fair value of investment securities | The amortized cost and fair value of investment securities at December 31, 2015 and 2014 were as follows (in thousands)
|  | Gross | Gross |
| Amortized | Unrealized | Unrealized | Fair
December 31, 2015 | Cost | Gains | Losses | Value
Available-for-sale securities: |  |  |  |
U.S. Agency securities | $ 199,749 | $ 369 | $ (527) | $ 199,591
U.S. Treasuries | 10,103 | - | (21) | 10,082
Obligations of state and |  |  |  |
political subdivisions | 99,856 | 3,080 | (73) | 102,863
Corporate obligations | 14,583 | 68 | (86) | 14,565
Mortgage-backed securities in |  |  |  |
government sponsored entities | 30,107 | 186 | (89) | 30,204
Equity securities in financial institutions | 2,001 | 436 | (5) | 2,432
Total available-for-sale securities | $ 356,399 | $ 4,139 | $ (801) | $ 359,737
December 31, 2014 | Cost | Gains | Losses | Value
Available-for-sale securities: |  |  |  |
U.S. Agency securities | $ 150,847 | $ 638 | $ (600) | $ 150,885
U.S. Treasuries | 4,944 | - | (95) | 4,849
Obligations of state and |  |  |  |
political subdivisions | 101,281 | 3,854 | (99) | 105,036
Corporate obligations | 13,853 | 190 | (85) | 13,958
Mortgage-backed securities in |  |  |  |
government sponsored entities | 29,397 | 368 | (37) | 29,728
Equity securities in financial institutions | 1,137 | 553 | - | 1,690
Total available-for-sale securities | $ 301,459 | $ 5,603 | $ (916) | $ 306,146
Unrealized losses and fair value of investments | The following table shows the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time, that the individual securities have been in a continuous unrealized loss position, at December 31, 2015 and 2014 (in thousands). As of December 31, 2015, the Company owned 91 securities whose fair value was less than their cost basis.
|  | Less than Twelve Months | Twelve Months or Greater | Total
|  |  | Gross |  | Gross |  | Gross
|  | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized
2015 | Value | Losses | Value | Losses | Value | Losses
U.S. agency securities | $ 123,591 | $ (527) | $ - | $ - | $ 123,591 | $ (527)
U.S. Treasuries | 10,082 | (21) | - | - | 10,082 | (21)
Obligations of states and |  |  |  |  |  |
political subdivisions | 7,023 | (57) | 2,914 | (16) | 9,937 | (73)
Corporate obligations | 5,822 | (61) | 2,138 | (25) | 7,960 | (86)
Mortgage-backed securities in |  |  |  |  |  |
government sponsored entities | 9,830 | (77) | 227 | (12) | 10,057 | (89)
Equity securities in financial institutions | 106 | (5) | - | - | 106 | (5)
Total securities | $ 156,454 | $ (748) | $ 5,279 | $ (53) | $ 161,733 | $ (801)
2014 |  |  |  |  |  |  |
U.S. agency securities | $ 27,382 | $ (110) | $ 43,642 | $ (490) | $ 71,024 | $ (600)
U.S. Treasuries | - | - | 4,849 | (95) | 4,849 | (95)
Obligations of states and |  |  |  |  |  |
political subdivisions | 3,596 | (19) | 8,584 | (80) | 12,180 | (99)
Corporate obligations | 505 | (1) | 7,707 | (84) | 8,212 | (85)
Mortgage-backed securities in |  |  |  |  |  |
government sponsored entities | 5,025 | (4) | 2,229 | (33) | 7,254 | (37)
Total securities | $ 36,508 | $ (134) | $ 67,011 | $ (782) | $ 103,519 | $ (916)
Gross gains and losses on available-for-sale securities | Gross gains and gross losses were realized as follows (in thousands):
| 2015 | 2014 | 2013
Gross gains | $ 440 | $ 647 | $ 827
Gross losses | (11) | (31) | (386)
Net gains | $ 429 | $ 616 | $ 441
Summary of amortized cost and fair value of debt securities by contractual maturity | The amortized cost and fair value of debt securities at December 31, 2015, by contractual maturity are shown below (in thousands). Municipal securities that have been refunded and will therefore pay-off on the call date are reflected in the table below utilizing the call date as the date of repayment as payment is guaranteed on that day:
| Amortized |
| Cost | Fair Value
Available-for-sale securities: |  |
Due in one year or less | $ 19,839 | $ 19,878
Due after one year through five years | 203,928 | 204,375
Due after five years through ten years | 41,041 | 41,905
Due after ten years | 89,590 | 91,147
Total | $ 354,398 | $ 357,305

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
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

X
- Definition Tabular disclosure of realized gains and losses on investments reported in the statement of income. + References No definition available. + Details
Name: | us-gaap_RealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: 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_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration