Investment Securities

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note 3 – Investment Securities

The following table provides information on the amortized cost and estimated fair values of investment securities.

			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
Available-for-sale securities:
June 30, 2015
U.S. Treasury	$	5,144	$	11	$	-	$	5,155
U.S. Government agencies		70,449		175		249		70,375
Mortgage-backed		151,952		730		638		152,044
Equity		631		5		-		636
Total	$	228,176	$	921	$	887	$	228,210
December 31, 2014
U.S. Treasury	$	5,210	$	5	$	-	$	5,215
U.S. Government agencies		75,220		87		347		74,960
Mortgage-backed		154,525		1,230		452		155,303
Equity		624		6		-		630
Total	$	235,579	$	1,328	$	799	$	236,108
Held-to-maturity securities:
June 30, 2015
U.S. Government agencies	$	2,676	$	-	$	81	$	2,595
States and political subdivisions		1,837		123		-		1,960
Total	$	4,513	$	123	$	81	$	4,555
December 31, 2014
U.S. Government agencies	$	2,791	$	-	$	83	$	2,708
States and political subdivisions		1,839		147		-		1,986
Total	$	4,630	$	147	$	83	$	4,694

The following tables provide information about gross unrealized losses and fair value by length of time that the individual securities have been in a continuous unrealized loss position at June 30, 2015 and December 31, 2014.

	Less than				More than
	12 Months				12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
June 30, 2015
Available-for-sale securities:
U.S. Government agencies	$	27,968	$	87	$	6,985	$	163	$	34,953	$	250
Mortgage-backed		32,875		239		24,107		399		56,982		638
Total	$	60,843	$	326	$	31,092	$	562	$	91,935	$	888
Held-to-maturity securities:
U.S. Government agencies	$	-	$	-	$	2,595	$	81	$	2,595	$	81

	Less than				More than
	12 Months				12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
December 31, 2014
Available-for-sale securities:
U.S. Government agencies	$	41,574	$	138	$	6,954	$	209	$	48,528	$	347
Mortgage-backed		12,933		44		26,828		408		39,761		452
Total	$	54,507	$	182	$	34,412	$	617	$	88,919	$	799
Held-to-maturity securities:
U.S. Government agencies	$	-	$	-	$	2,708	$	83	$	2,708	$	83

All of the securities with unrealized losses in the portfolio have modest duration risk, low credit risk, and minimal losses when compared to total amortized cost. The unrealized losses on debt securities that exist are the result of market changes in interest rates since original purchase. Because the Company does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost bases, which may be at maturity for debt securities, the Company considers the unrealized losses to be temporary.

The following table provides information on the amortized cost and estimated fair values of investment securities by maturity date at June 30, 2015.

	Available for sale				Held to maturity
	Amortized		Estimated		Amortized		Estimated
(Dollars in thousands)	Cost		Fair Value		Cost		Fair Value
Due in one year or less	$	2,001	$	2,003	$	220	$	220
Due after one year through five years		70,545		70,579		711		757
Due after five years through ten years		12,939		12,881		403		452
Due after ten years		142,060		142,111		3,179		3,126
		227,545		227,574		4,513		4,555
Equity securities		631		636		-		-
Total	$	228,176	$	228,210	$	4,513	$	4,555

The maturity dates for debt securities are determined using contractual maturity dates.