XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Securities | 6 Months Ended
--- | ---
Jun. 30, 2016
Available-for-sale Securities [Abstract] |
Securities | NOTE 4. Securities Amortized costs and fair values of securities available for sale at June 30, 2016 and December 31, 2015 were as follows:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
| June 30, 2016
| (in thousands)
Obligations of U.S. government corporations and agencies | $ | 29,883 |  |  | $ | 1,016 |  |  | $ | — |  |  | $ | 30,899 |
Mortgage-backed securities | 29,371 |  |  | 523 |  |  | — |  |  | 29,894 |
Obligations of states and political subdivisions | 40,489 |  |  | 1,500 |  |  | — |  |  | 41,989 |
| $ | 99,743 |  |  | $ | 3,039 |  |  | $ | — |  |  | $ | 102,782 |
| December 31, 2015
| (in thousands)
Obligations of U.S. government corporations and agencies | $ | 37,348 |  |  | $ | 475 |  |  | $ | (158 | ) |  | $ | 37,665 |
Mortgage-backed securities | 28,858 |  |  | 293 |  |  | (220 | ) |  | 28,931 |
Obligations of states and political subdivisions | 38,082 |  |  | 1,169 |  |  | (24 | ) |  | 39,227 |
| $ | 104,288 |  |  | $ | 1,937 |  |  | $ | (402 | ) |  | $ | 105,823 |
During the six months ended June 30, 2016, the Company received proceeds of $4.3 million on sales of available for sale securities for a gross gain of $86 thousand. There were no losses on the sale of available for sale securities during the six months ended June 30, 2016. During the six months ended June 30, 2015, the Company sold $2.3 million of available for sale securities for a gross gain of $96 thousand. There were no losses on the sale of available for sale securities during the six months ended June 30, 2015. The fair value and gross unrealized losses for securities available for sale, totaled by the length of time that individual securities have been in a continuous gross unrealized loss position, at June 30, 2016 and December 31, 2015 were as follows:
| Less than 12 months |  | 12 months or more |  | Total
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
| June 30, 2016
| (in thousands)
Obligations of U.S. government corporations and agencies | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Mortgage-backed securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Obligations of states and political subdivisions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
| December 31, 2015
| (in thousands)
Obligations of U.S. government corporations and agencies | $ | 21,296 |  |  | $ | 143 |  |  | $ | 1,985 |  |  | $ | 15 |  |  | $ | 23,281 |  |  | $ | 158 |
Mortgage-backed securities | 18,563 |  |  | 194 |  |  | 1,105 |  |  | 26 |  |  | 19,668 |  |  | 220 |
Obligations of states and political subdivisions | 3,414 |  |  | 22 |  |  | 497 |  |  | 2 |  |  | 3,911 |  |  | 24 |
| $ | 43,273 |  |  | $ | 359 |  |  | $ | 3,587 |  |  | $ | 43 |  |  | $ | 46,860 |  |  | $ | 402 |
Gross unrealized losses on available for sale securities included zero (0) and forty-five (45) debt securities at June 30, 2016 and December 31, 2015, respectively. The Company evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to the length of time and the amount of an unrealized loss, the financial condition of the issuer, and the intent and ability of the Company to retain its investment in the issuer long enough to allow for an anticipated recovery in fair value. The fair value of a security reflects its liquidity as compared to similar instruments, current market rates on similar instruments, and the creditworthiness of the issuer. Absent any change in the liquidity of a security or the creditworthiness of the issuer, prices will decline as market rates rise and vice-versa. The primary cause of the unrealized losses at December 31, 2015 was changes in market interest rates. Since the losses can be primarily attributed to changes in market interest rates and not expected cash flows or an issuer’s financial condition, the unrealized losses were deemed to be temporary. The continuing economic recession involving housing, liquidity and credit were also a contributing factor to the unrealized losses on these securities at December 31, 2015. The Company’s mortgage-backed securities are issued by U.S. government agencies, which guarantee payments to investors regardless of the status of the underlying mortgages. The Company monitors the financial condition of these issuers continuously and will record other-than-temporary impairment if the recovery of value is unlikely. The Company’s securities are exposed to various risks, such as interest rate, market, currency and credit risks. Due to the level of risk associated with certain securities and the level of uncertainty related to changes in the value of securities, it is at least reasonably possible that changes in risks in the near term would materially affect securities reported in the financial statements. In addition, recent economic uncertainty and market events have led to unprecedented volatility in currency, commodity, credit and equity markets culminating in failures of some banking and financial services firms and government intervention to solidify others. These events underscore the level of investment risk associated with the current economic environment, and accordingly the level of risk in the Company’s securities. Securities having a carrying value of $2.9 million at June 30, 2016 were pledged for various purposes required by law. The composition of restricted investments at June 30, 2016 and December 31, 2015 was as follows:
| June 30, 2016 |  | December 31, 2015
| (in thousands)
Federal Reserve Bank Stock | $ | 344 |  |  | $ | 344 |
Federal Home Loan Bank Stock | 1,434 |  |  | 1,412 |
Community Bankers’ Bank Stock | 140 |  |  | 140 |
| $ | 1,918 |  |  | $ | 1,896 |

X
- References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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=27724398&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=27724398&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=27724398&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=27724398&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=27724398&loc=d3e27290-111563 + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration