XML 29 R10.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Securities | 12 Months Ended
--- | ---
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract] |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 2 – Securities The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:
|  | (Dollars in thousands) |
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
|  | Cost |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Basis |  |  | Gains |  |  | Losses |  |  | Value |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 525 |  |  | $ | - |  |  | $ | - |  |  | $ | 525 |
U.S. government sponsored entities |  |  | 17,496 |  |  |  | 1 |  |  |  | (66 | ) |  |  | 17,431 |
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 118,628 |  |  |  | 1,021 |  |  |  | (476 | ) |  |  | 119,173 |
Municipal securities |  |  | 89,506 |  |  |  | 3,986 |  |  |  | (5 | ) |  |  | 93,487 |
Collateralized debt obligations |  |  | 5,096 |  |  |  | - |  |  |  | (2,362 | ) |  |  | 2,734 |
Total securities available-for-sale |  | $ | 231,251 |  |  | $ | 5,008 |  |  | $ | (2,909 | ) |  | $ | 233,350 |
|  | (Dollars in thousands) |
|  |  |  |  | Gross |  |  | Gross |  |  | Estimated |
|  | Cost |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Basis |  |  | Gains |  |  | Losses |  |  | Value |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 6,453 |  |  | $ | - |  |  | $ | - |  |  | $ | 6,453 |
U.S. government sponsored entities |  |  | 13,000 |  |  |  | 2 |  |  |  | (133 | ) |  |  | 12,869 |
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 116,088 |  |  |  | 1,870 |  |  |  | (384 | ) |  |  | 117,574 |
Municipal securities |  |  | 76,989 |  |  |  | 3,749 |  |  |  | (13 | ) |  |  | 80,725 |
Collateralized debt obligations |  |  | 5,141 |  |  |  | - |  |  |  | (2,709 | ) |  |  | 2,432 |
Total securities available-for-sale |  | $ | 217,671 |  |  | $ | 5,621 |  |  | $ | (3,239 | ) |  | $ | 220,053 |
The estimated fair value of available-for-sale securities and carrying amount, if different, at December 31, 2015 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.
|  | (Dollars in thousands) |
|  | Available-for-sale |
|  | Estimated |  |  |  |
|  | Fair |  |  | Tax-Equivalent |
December 31, 2015 |  | Value |  |  | Yield (%) |
Due in one year or less |  | $ | 1,015 |  |  |  | 6.75 |
Due from one to five years |  |  | 20,428 |  |  |  | 2.71 |
Due from five to ten years |  |  | 22,363 |  |  |  | 5.58 |
Due over ten years |  |  | 70,371 |  |  |  | 4.57 |
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 119,173 |  |  |  | 2.61 |
Total |  | $ | 233,350 |  |  |  | 3.51 |
Sales of available-for-sale securities were as follows:
|  | (Dollars in thousands) |
|  | December 31, |  |  | December 31, |
|  | 2015 |  |  | 2014 |
Proceeds |  | $ | 31,088 |  |  | $ | 36,244 |
Gross gains |  |  | 608 |  |  |  | 848 |
Gross losses |  |  | (2 | ) |  |  | (307 | )
The tax provisions related to these net realized gains were approximately $239 thousand for 2015 and $213 thousand for 2014. Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows:
|  | (Dollars in thousands) |
|  | Unrealized gain/(loss) |
Ending balance, December 31, 2014 |  | $ | 1,556 |
Current period change |  |  | (178 | )
Ending balance, December 31, 2015 |  | $ | 1,378 |
Securities with carrying values of approximately $31.1 million and $34.2 million were pledged as of December 31, 2015 and 2014, respectively, as collateral for repurchase agreements, public funds, and for other purposes as permitted or required by law. Securities with unrealized losses at December 31, 2015 and 2014 not recognized in income are as follows:
|  | (Dollars in thousands) |
|  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | Estimated |  |  |  |  |  | Estimated |  |  |  |  |  | Estimated |  |  |  |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entities |  | $ | 9,429 |  |  | $ | (66 | ) |  | $ | - |  |  | $ | - |  |  | $ | 9,429 |  |  | $ | (66 | )
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 39,386 |  |  |  | (232 | ) |  |  | 8,045 |  |  |  | (244 | ) |  |  | 47,431 |  |  |  | (476 | )
Municipal securities |  |  | 1,512 |  |  |  | (5 | ) |  |  | - |  |  |  | - |  |  |  | 1,512 |  |  |  | (5 | )
Collateralized debt obligations |  |  | - |  |  |  | - |  |  |  | 2,734 |  |  |  | (2,362 | ) |  |  | 2,734 |  |  |  | (2,362 | )
Total temporarily impaired |  | $ | 50,327 |  |  | $ | (303 | ) |  | $ | 10,779 |  |  | $ | (2,606 | ) |  | $ | 61,106 |  |  | $ | (2,909 | )
Number of securities |  |  |  |  |  |  | 37 |  |  |  |  |  |  |  | 11 |  |  |  |  |  |  |  | 48 |
|  | (Dollars in thousands) |
|  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | Estimated |  |  |  |  |  | Estimated |  |  |  |  |  | Estimated |  |  |  |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entities |  | $ | 1,496 |  |  | $ | (4 | ) |  | $ | 10,371 |  |  | $ | (129 | ) |  | $ | 11,867 |  |  | $ | (133 | )
Collateralized mortgage obligations and residential mortgage-backed securities |  |  | 8,169 |  |  |  | (40 | ) |  |  | 14,486 |  |  |  | (344 | ) |  |  | 22,655 |  |  |  | (384 | )
Municipal securities |  |  | 687 |  |  |  | (3 | ) |  |  | 1,459 |  |  |  | (10 | ) |  |  | 2,146 |  |  |  | (13 | )
Collateralized debt obligations |  |  | - |  |  |  | - |  |  |  | 2,432 |  |  |  | (2,709 | ) |  |  | 2,432 |  |  |  | (2,709 | )
Total temporarily impaired |  | $ | 10,352 |  |  | $ | (47 | ) |  | $ | 28,748 |  |  | $ | (3,192 | ) |  | $ | 39,100 |  |  | $ | (3,239 | )
Number of securities |  |  |  |  |  |  | 9 |  |  |  |  |  |  |  | 29 |  |  |  |  |  |  |  | 38 |
Unrealized losses on securities have not been recognized into income because the securities are of high credit quality, have undisrupted cash flows, or have been independently evaluated for other-than-temporary impairment and appropriate write downs taken. Management has the intent and ability to hold the securities for the foreseeable future, and the decline in fair value is largely due to changes in interest rates and volatility in the securities markets. The fair values are expected to recover as the securities approach maturity.

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 The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: 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 7: 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 8: 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 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration