Investment Securities

9 Months Ended

Sep. 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:
September 30, 2015
U.S. Treasury	$	5,111	$	12	$	-	$	5,123
U.S. Government agencies		65,707		207		160		65,754
Mortgage-backed		147,629		1,647		363		148,913
Equity		634		10		-		644
Total	$	219,081	$	1,876	$	523	$	220,434
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:
September 30, 2015
U.S. Government agencies	$	2,575	$	-	$	43	$	2,532
States and political subdivisions		1,617		131		-		1,748
Total	$	4,192	$	131	$	43	$	4,280
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 September 30, 2015 and December 31, 2014.

	Less than 12 Months				More than 12 Months				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
September 30, 2015
Available-for-sale securities:
U.S. Government agencies	$	14,989	$	19	$	-	$	141	$	14,989	$	160
Mortgage-backed		14,067		43		22,488		320		36,555		363
Total	$	29,056	$	62	$	22,488	$	461	$	51,544	$	523
Held-to-maturity securities:
U.S. Government agencies	$	-	$	-	$	2,532	$	43	$	2,532	$	43

	Less than 12 Months				More than 12 Months				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized 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	$	33,782	$	617	$	88,289	$	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 September 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	$	10,149	$	10,168	$	-	$	-
Due after one year through five years		57,710		57,839		711		761
Due after five years through ten years		12,084		12,134		403		454
Due after ten years		138,504		139,649		3,078		3,065
		218,447		219,790		4,192		4,280
Equity securities		634		644		-		-
Total	$	219,081	$	220,434	$	4,192	$	4,280

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