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Securities (Tables)
12 Months Ended
Dec. 31, 2014
Securities [Abstract]  
Amortized Cost and Fair Values of Securities [Table Text Block]

The amortized cost and fair value of securities were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

(In Thousands)

AVAILABLE FOR SALE:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agencies

 

$

29,289 

 

$

42 

 

$

(356)

 

$

28,975 

States and political subdivisions

 

 

52,685 

 

 

1,750 

 

 

(103)

 

 

54,332 

Corporate obligations

 

 

6,387 

 

 

110 

 

 

(11)

 

 

6,486 

Mortgage-backed securities-

 

 

 

 

 

 

 

 

 

 

 

 

government sponsored entities

 

 

67,032 

 

 

109 

 

 

(937)

 

 

66,204 

  Total debt securities

 

 

155,393 

 

 

2,011 

 

 

(1,407)

 

 

155,997 

Equity securities-financial services

 

 

292 

 

 

106 

 

 

 -

 

 

398 

 

 

$

155,685 

 

$

2,117 

 

$

(1,407)

 

$

156,395 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

 

Cost

 

Gains

 

Losses

 

Value

 

 

(In Thousands)

Available for Sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agencies

 

$

34,471 

 

$

-

 

$

(1,058)

 

$

33,413 

States and political subdivisions

 

 

60,174 

 

 

650 

 

 

(1,794)

 

 

59,030 

Corporate obligations

 

 

3,667 

 

 

84 

 

 

(40)

 

 

3,711 

Mortgage-backed securities-government

 

 

 

 

 

 

 

 

 

 

 

 

sponsored entities

 

 

63,467 

 

 

81 

 

 

(1,898)

 

 

61,650 

  Total debt securities

 

 

161,779 

 

 

815 

 

 

(4,790)

 

 

157,804 

Equity securities-financial services

 

 

293 

 

 

50 

 

 

(15)

 

 

328 

 

 

$

162,072 

 

$

865 

 

$

(4,805)

 

$

158,132 

Held to Maturity:

 

 

 

 

 

 

 

 

 

 

 

 

States and political subdivisions

 

$

174 

 

$

 

$

-

 

$

177 

 

Investments' Gross Unrealized Losses and Fair Value [Table Text Block]

The following tables show the Company’s investments’ gross unrealized losses and fair value aggregated by length of time that individual securities have been in a continuous unrealized loss position (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

Less than 12 Months

 

12 Months or More

 

Total

 

Fair Value

 

Unrealized Losses

 

Fair Value

 

Unrealized Losses

 

Fair Value

 

Unrealized Losses

U.S. Government agencies

$

4,965 

 

$

(17)

 

$

15,051 

 

$

(339)

 

$

20,016 

 

$

(356)

States and political subdivisions

 

3,195 

 

 

(20)

 

 

4,633 

 

 

(83)

 

 

7,828 

 

 

(103)

Corporate obligations

 

 -

 

 

 -

 

 

1,144 

 

 

(11)

 

 

1,144 

 

 

(11)

Mortgage-backed securities-government sponsored entities

 

22,090 

 

 

(189)

 

 

26,050 

 

 

(748)

 

 

48,140 

 

 

(937)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

30,250 

 

$

(226)

 

$

46,878 

 

$

(1,181)

 

$

77,128 

 

$

(1,407)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

Less than 12 Months

 

12 Months or More

 

Total

 

Fair Value

 

Unrealized Losses

 

Fair Value

 

Unrealized Losses

 

Fair Value

 

Unrealized Losses

U.S. Government agencies

$

32,481 

 

$

(990)

 

$

932 

 

$

(68)

 

$

33,413 

 

$

(1,058)

States and political subdivisions

 

26,281 

 

 

(1,415)

 

 

4,228 

 

 

(379)

 

 

30,509 

 

 

(1,794)

Corporate obligations

 

1,145 

 

 

(40)

 

 

 -

 

 

 -

 

 

1,145 

 

 

(40)

Mortgage-backed securities-government sponsored entities

 

47,014 

 

 

(1,524)

 

 

7,478 

 

 

(374)

 

 

54,492 

 

 

(1,898)

Equity securities-financial services

 

170 

 

 

(15)

 

 

 -

 

 

 -

 

 

170 

 

 

(15)

 

$

107,091 

 

$

(3,984)

 

$

12,638 

 

$

(821)

 

$

119,729 

 

$

(4,805)

 

Securities by Contractual Maturity [Table Text Block]

The amortized cost and fair value of debt securities as of December 31, 2014 by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties.

 

 

 

 

 

 

 

 

 

Amortized

 

Fair

 

Cost

 

Value

 

 

(In Thousands)

Due in one year or less

$

1,249 

 

$

1,275 

Due after one year through five years

 

20,595 

 

 

20,537 

Due after five years through ten years

 

23,277 

 

 

23,161 

Due after ten years

 

43,240 

 

 

44,820 

 

 

88,361 

 

 

89,793 

 

 

 

 

 

 

Mortgage-backed securities - government sponsored entities

 

67,032 

 

 

66,204 

 

$

155,393 

 

$

155,997