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Securities (Tables)

6 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Costs and Fair Values of Securities

Amortized costs and fair values of securities at June 30, 2016 and December 31, 2015 were as follows (in thousands):

		June 30, 2016
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities		$	78,864			$	929			$	(119	)		$	79,674
Obligations of states and political subdivisions			14,488				396				(8	)			14,876
Corporate equity securities			1				15				—				16
Total securities available for sale		$	93,353			$	1,340			$	(127	)		$	94,566
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	41,239			$	415			$	(19	)		$	41,635
Obligations of states and political subdivisions			14,662				543				—				15,205
Corporate debt securities			1,500				35				—				1,535
Total securities held to maturity		$	57,401			$	993			$	(19	)		$	58,375
Total securities		$	150,754			$	2,333			$	(146	)		$	152,941
		December 31, 2015
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Fair Value
Securities available for sale:
U.S. agency and mortgage-backed securities		$	89,919			$	261			$	(843	)		$	89,337
Obligations of states and political subdivisions			15,931				333				(50	)			16,214
Corporate equity securities			1				7				—				8
Total securities available for sale		$	105,851			$	601			$	(893	)		$	105,559
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	49,662			$	36			$	(326	)		$	49,372
Obligations of states and political subdivisions			15,357				228				(19	)			15,566
Corporate debt securities			1,500				—				—				1,500
Total securities held to maturity		$	66,519			$	264			$	(345	)		$	66,438
Total securities		$	172,370			$	865			$	(1,238	)		$	171,997

Summary of Investments in an Unrealized Loss Position that were Temporarily Impaired

At June 30, 2016 and December 31, 2015, investments in an unrealized loss position that were temporarily impaired were as follows (in thousands):

		June 30, 2016
		Less than 12 months								12 months or more								Total
						Unrealized								Unrealized								Unrealized
		Fair Value				(Loss)				Fair Value				(Loss)				Fair Value				(Loss)
Securities available for sale:
U.S. agency and mortgage-backed securities		$	780			$	(1	)		$	12,133			$	(118	)		$	12,913			$	(119	)
Obligations of states and political subdivisions			—				—				522				(8	)			522				(8	)
Total securities available for sale		$	780			$	(1	)		$	12,655			$	(126	)		$	13,435			$	(127	)
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	—			$	—			$	6,032			$	(19	)		$	6,032			$	(19	)
Total securities held to maturity		$	—			$	—			$	6,032			$	(19	)		$	6,032			$	(19	)
Total securities		$	780			$	(1	)		$	18,687			$	(145	)		$	19,467			$	(146	)
		December 31, 2015
		Less than 12 months								12 months or more								Total
						Unrealized								Unrealized								Unrealized
		Fair Value				(Loss)				Fair Value				(Loss)				Fair Value				(Loss)
Securities available for sale:
U.S. agency and mortgage-backed securities		$	50,185			$	(464	)		$	13,409			$	(379	)		$	63,594			$	(843	)
Obligations of states and political subdivisions			2,395				(15	)			1,053				(35	)			3,448				(50	)
Total securities available for sale		$	52,580			$	(479	)		$	14,462			$	(414	)		$	67,042			$	(893	)
Securities held to maturity:
U.S. agency and mortgage-backed securities		$	32,791			$	(326	)		$	—			$	—			$	32,791			$	(326	)
Obligations of states and political subdivisions			3,052				(19	)			—				—				3,052				(19	)
Total securities held to maturity		$	35,843			$	(345	)		$	—			$	—			$	35,843			$	(345	)
Total securities		$	88,423			$	(824	)		$	14,462			$	(414	)		$	102,885			$	(1,238	)

Amortized Cost and Fair Value of Securities

The amortized cost and fair value of securities at June 30, 2016 by contractual maturity are shown below (in thousands). Expected maturities of mortgage-backed securities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties. Corporate equity securities are not included in the maturity categories in the following maturity summary because they do not have a stated maturity date.

		Available for Sale								Held to Maturity
		Amortized				Fair				Amortized				Fair
		Cost				Value				Cost				Value
Due within one year		$	1,666			$	1,672			$	—			$	—
Due after one year through five years			9,649				9,769				1,111				1,131
Due after five years through ten years			13,246				13,578				16,355				16,761
Due after ten years			68,791				69,531				39,935				40,483
Corporate equity securities			1				16				—				—
		$	93,353			$	94,566			$	57,401			$	58,375

Composition of Restricted Securities

The composition of restricted securities at June 30, 2016 and December 31, 2015 was as follows (in thousands):

		June 30, 2016				December 31, 2015
Federal Home Loan Bank stock		$	1,133			$	466
Federal Reserve Bank stock			875				875
Community Bankers’ Bank stock			50				50
		$	2,058			$	1,391

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