XML 19 R9.htm IDEA: XBRL DOCUMENT
v3.5.0.2

2. Investment Securities | 6 Months Ended
--- | ---
Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract] |
2. Investment Securities | Investment securities available for sale at June 30, 2016 and December 31, 2015 are as follows:
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |
|  | June 30, 2016
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value
Mortgage-backed securities |  | $ | 70,509 |  |  |  | 2,269 |  |  |  | - |  |  |  | 72,778
U.S. Government |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
sponsored enterprises |  |  | 39,913 |  |  |  | 790 |  |  |  | 218 |  |  |  | 40,485
State and political subdivisions |  |  | 139,193 |  |  |  | 9,925 |  |  |  | 2 |  |  |  | 149,116
Corporate bonds |  |  | 1,511 |  |  |  | 8 |  |  |  | 3 |  |  |  | 1,516
Trust preferred securities |  |  | 750 |  |  |  | - |  |  |  | - |  |  |  | 750
Equity securities |  |  | 264 |  |  |  | 205 |  |  |  | - |  |  |  | 469
Total |  | $ | 252,140 |  |  |  | 13,197 |  |  |  | 223 |  |  |  | 265,114
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | December 31, 2015
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value
Mortgage-backed securities |  | $ | 76,406 |  |  |  | 1,526 |  |  |  | 45 |  |  |  | 77,887
U.S. Government |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
sponsored enterprises |  |  | 38,173 |  |  |  | 399 |  |  |  | 155 |  |  |  | 38,417
State and political subdivisions |  |  | 141,500 |  |  |  | 6,817 |  |  |  | 72 |  |  |  | 148,245
Corporate bonds |  |  | 1,928 |  |  |  | - |  |  |  | 22 |  |  |  | 1,906
Trust preferred securities |  |  | 750 |  |  |  | - |  |  |  | - |  |  |  | 750
Equity securities |  |  | 748 |  |  |  | 577 |  |  |  | - |  |  |  | 1,325
Total |  | $ | 259,505 |  |  |  | 9,319 |  |  |  | 294 |  |  |  | 268,530
The current fair value and associated unrealized losses on investments in securities with unrealized losses at June 30, 2016 and December 31, 2015 are summarized in the tables below, with the length of time the individual securities have been in a continuous loss position.
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | June 30, 2016
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total
|  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses
U.S. Government |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
sponsored enterprises |  | $ | 7,709 |  |  |  | 65 |  |  |  | 10,218 |  |  |  | 153 |  |  |  | 17,927 |  |  |  | 218
State and political subdivisions |  |  | - |  |  |  | - |  |  |  | 593 |  |  |  | 2 |  |  |  | 593 |  |  |  | 2
Corporate bonds |  |  | 997 |  |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | 997 |  |  |  | 3
Total |  | $ | 8,706 |  |  |  | 68 |  |  |  | 10,811 |  |  |  | 155 |  |  |  | 19,517 |  |  |  | 223
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | December 31, 2015
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total
|  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses
Mortgage-backed securities |  | $ | 7,891 |  |  |  | 45 |  |  |  | - |  |  |  | - |  |  |  | 7,891 |  |  |  | 45
U.S. Government |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
sponsored enterprises |  |  | 3,074 |  |  |  | 13 |  |  |  | 10,828 |  |  |  | 142 |  |  |  | 13,902 |  |  |  | 155
State and political subdivisions |  |  | 2,198 |  |  |  | 4 |  |  |  | 3,930 |  |  |  | 68 |  |  |  | 6,128 |  |  |  | 72
Corporate bonds |  |  | 1,500 |  |  |  | 22 |  |  |  | - |  |  |  | - |  |  |  | 1,500 |  |  |  | 22
Total |  | $ | 14,663 |  |  |  | 84 |  |  |  | 14,758 |  |  |  | 210 |  |  |  | 29,421 |  |  |  | 294
At June 30, 2016, unrealized losses in the investment securities portfolio relating to debt securities totaled $223,000. The unrealized losses on these debt securities arose due to changing interest rates and are considered to be temporary. From the June 30, 2016 tables above, one out of 170 securities issued by state and political subdivisions contained unrealized losses, nine out of 77 securities issued by U.S. Government sponsored enterprises contained unrealized losses, and one out of two securities issued by corporations contained unrealized losses. These unrealized losses are considered temporary because of acceptable financial condition and results of operations of entities that issued each security and the repayment sources of principal and interest on U.S. Government sponsored enterprises, including mortgage-backed securities, are government backed. The amortized cost and estimated fair value of investment securities available for sale at June 30, 2016, by contractual maturity, are shown below. Expected maturities of mortgage-backed securities will differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
June 30, 2016 |  |  |  |  |
(Dollars in thousands) |  |  |  |  |
|  | Amortized Cost |  |  | Estimated Fair Value
Due within one year |  | $ | 5,196 |  |  |  | 5,218
Due from one to five years |  |  | 73,590 |  |  |  | 78,304
Due from five to ten years |  |  | 88,245 |  |  |  | 93,409
Due after ten years |  |  | 14,336 |  |  |  | 14,936
Mortgage-backed securities |  |  | 70,509 |  |  |  | 72,778
Equity securities |  |  | 264 |  |  |  | 469
Total |  | $ | 252,140 |  |  |  | 265,114
Proceeds from sales of securities available for sale during the six months ended June 30, 2016 were $804,000 and resulted in gross gains of $324,000. No securities available for sale were sold during the six months ended June 30, 2015. Securities with a fair value of approximately $83.1 million and $91.0 million at June 30, 2016 and December 31, 2015, respectively, were pledged to secure public deposits and for other purposes as required by law.

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 marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=49167202&loc=d3e26626-111562 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49167202&loc=d3e26610-111562 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -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 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration