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2. Investment Securities (Tables)

12 Months Ended

Dec. 31, 2016

Investment Securities Tables

Investment securities available for sale

(Dollars in thousands)
		December 31, 2016
		Amortized Cost				Gross Unrealized Gains				Gross  Unrealized Losses				Estimated Fair Value
Mortgage-backed securities		$	66,654				1,221				290				67,585
U.S. Government
sponsored enterprises			38,188				308				274				38,222
State and political subdivisions			137,832				4,176				152				141,856
Corporate bonds			1,500				33				-				1,533
Trust preferred securities			750				-				-				750
Total		$	244,924				5,738				716				249,946
(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

Current fair value and associated unrealized losses on investments in debt securities with unrealized losses

(Dollars in thousands)
		December 31, 2016
		Less than 12 Months								12 Months or More								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized  Losses				Fair Value				Unrealized Losses
Mortgage-backed securities		$	15,594				290				-				-				15,594				290
U.S. Government
sponsored enterprises			10,120				94				9,562				180				19,682				274
State and political subdivisions			10,441				123				561				29				11,002				152
Total		$	36,155				507				10,123				209				46,278				716
(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

Amortized cost and estimated fair value of investment securities available for sale by contractual maturity

December 31, 2016
(Dollars in thousands)
		Amortized Cost				Estimated Fair Value
Due within one year		$	7,304				7,341
Due from one to five years			81,366				84,100
Due from five to ten years			77,498				78,751
Due after ten years			12,102				12,169
Mortgage-backed securities			66,654				67,585
Equity securities			-				-
Total		$	244,924				249,946

Available for sale securities measured at fair value on a recurring basis

(Dollars in thousands)
		December 31, 2016
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	67,585				-				67,585				-
U.S. Government
sponsored enterprises		$	38,222				-				38,222				-
State and political subdivisions		$	141,856				-				141,856				-
Corporate bonds		$	1,533				-				1,533				-
Trust preferred securities		$	750				-				-				750

(Dollars in thousands)
		December 31, 2015
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	77,887				-				77,887				-
U.S. Government
sponsored enterprises		$	38,417				-				38,417				-
State and political subdivisions		$	148,245				-				148,245				-
Corporate bonds		$	1,906				-				1,906				-
Trust preferred securities		$	750				-				-				750
Equity securities		$	1,325				1,325				-				-

Fair value measurements of investment securities available for sale using Level 3 significant unobservable inputs

(Dollars in thousands)
		Investment Securities Available for Sale
		Level 3 Valuation
Balance, beginning of period		$	750
Change in book value			-
Change in gain/(loss) realized and unrealized			-
Purchases/(sales and calls)			-
Transfers in and/or (out) of Level 3			-
Balance, end of period		$	750
Change in unrealized gain/(loss) for assets still held in Level 3		$	-

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