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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2016

Investment Securities [Abstract]

Unrealized Gain (Loss) on Investments

The following table shows a comparison of amortized cost and fair values of investment securities at December 31, 2016 and 2015:



(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		OTTI in AOCL
December 31, 2016
Available for Sale:
U.S. government agencies	$	25,000	$	0		747	$	24,253	$	0
Commercial mortgage-backed agencies		52,978		1		757		52,222		0
Collateralized mortgage obligations		19,953		13		399		19,567		0
Obligations of states and political subdivisions		23,700		255		251		23,704		0
Collateralized debt obligations		27,930		0		7,676		20,254		(3,961)
Total available for sale	$	149,561	$	269	$	9,830	$	140,000	$	(3,961)
Held to Maturity:
U.S. government agencies	$	15,738	$	512	$	0	$	16,250	$	0
Residential mortgage-backed agencies		50,384		160		279		50,265		0
Commercial mortgage-backed agencies		17,584		248		0		17,832		0
Collateralized mortgage obligations		4,833		0		149		4,684		0
Obligations of states and political subdivisions		8,630		490		170		8,950		0
Total held to maturity	$	97,169	$	1,410	$	598	$	97,981	$	0






December 31, 2015
Available for Sale:
U.S. government agencies		34,079		14		129		33,964		0
Residential mortgage-backed agencies		14,285		105		220		14,170		0
Commercial mortgage-backed agencies		43,780		52		196		43,636		0
Collateralized mortgage obligations		9,690		43		123		9,610		0
Obligations of states and political subdivisions		45,949		915		223		46,641		0
Collateralized debt obligations		29,287		0		7,076		22,211		(4,320)
Total available for sale	$	177,070		1,129		7,967		170,232		(4,320)
Held to Maturity:
U.S. government agencies	$	24,704	$	634	$	0	$	25,338	$	0
Residential mortgage-backed agencies		53,734		276		98		53,912		0
Commercial mortgage-backed agencies		18,078		171		17		18,232		0
Collateralized mortgage obligations		6,419		0		122		6,297		0
Obligations of states and political subdivisions		2,625		338		0		2,963		0
Total held to maturity	$	105,560	$	1,419	$	237	$	106,742	$	0



Proceeds from Sales and Realized Gain and Losses



(in thousands)	2016		2015
Proceeds	$	43,782	$	60,598
Realized gains		688		1,609
Realized losses		248		647



Gross Unrealized Losses and Fair Values of Securities



	Less than 12 months				12 months or more
(in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
December 31, 2016
Available for Sale:
U.S. government agencies	$	24,253	$	747	$	0	$	0
Commercial mortgage-backed agencies		51,604		757		0		0
Collateralized mortgage obligations		14,706		399		0		0
Obligations of states and political subdivisions		8,079		160		2,934		91
Collateralized debt obligations		0		0		20,254		7,676
Total available for sale	$	98,642	$	2,063	$	23,188	$	7,767
Held to Maturity:
Residential mortgage-backed agencies		20,899		279		0		0
Commercial mortgage-backed agencies		4,684		149		0		0
Obligations of states and political subdivisions		2,335		170		0		0
Total held to maturity	$	27,918	$	598	$	0	$	0


December 31, 2015
Available for Sale:
U.S. government agencies		23,929		129		0		0
Residential mortgage-backed agencies		0		0		8,051		220
Commercial mortgage-backed agencies		25,858		196		0		0
Collateralized mortgage obligations		5,299		123		0		0
Obligations of states and political subdivisions		11,537		104		4,048		119
Collateralized debt obligations		0		0		22,211		7,076
Total available for sale	$	66,623	$	552	$	34,310	$	7,415
Held to Maturity:
Residential mortgage-backed agencies		11,085		98		0		0
Commercial mortgage-backed agencies		9,518		17		0		0
Collateralized mortgage obligations		6,297		122		0		0
Obligations of states and political subdivisions		0		0		0		0
Total held to maturity	$	26,900	$	237	$	0	$	0




Non-Cash OTTI Credit Losses Recognized in Earnings


(in thousands)	2016		2015
Balance of credit-related OTTI at January 1	$	3,133	$	12,583
Decreases for previously recognized credit-related OTTI
     because there was an intent to sell		0		(10,029)
Additions for decreases in cash flows expected to be collected		0		602
Reduction for increases in cash flows expected to be collected		(9)		(23)
Balance of credit-related OTTI at December 31	$	3,124	$	3,133



Amortized Cost and Fair Values Classified by Contractual Maturity Date

The amortized cost and estimated fair value of securities by contractual maturity at December 31, 2016 are shown in the following table.  Actual maturities will differ from contractual maturities because the issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties.






(in thousands)	Amortized Cost		Fair Value
Contractual Maturity
Available for sale:
Due after one year through five years	$	10,667	$	10,524
Due after five years through ten years		19,576		19,027
Due after ten years		46,387		38,660
		76,630		68,211
Commercial mortgage-backed agencies		52,978		52,222
Collateralized mortgage obligations		19,953		19,567
 Total available for sale	$	149,561	$	140,000
Held to Maturity:
Due after five years through ten years	$	15,738	$	16,250
Due after ten years		8,630		8,950
		24,368		25,200
Residential mortgage-backed agencies		50,384		50,265
Commercial mortgage-backed agencies		17,584		17,832
Collateralized mortgage obligations		4,833		4,684
Total held to maturity	$	97,169	$	97,981



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-Publisher FASB
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