INVESTMENT 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. 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:
December 31, 2015:
U.S. Treasury	$	5,078	$	1	$	-	$	5,079
U.S. Government agencies		49,630		89		190		49,529
Residential mortgage-backed		156,939		639		662		156,916
Equity		637		4		-		641
Total	$	212,284	$	733	$	852	$	212,165
December 31, 2014:
U.S. Treasury	$	5,210	$	5	$	-	$	5,215
U.S. Government agencies		75,220		87		347		74,960
Residential 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:
December 31, 2015:
U.S. Government agencies	$	2,575	$	-	$	60	$	2,515
States and political subdivisions		1,616		112		-		1,728
Total	$	4,191	$	112	$	60	$	4,243
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 table provides 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 December 31, 2015.

	Less than 12 Months				More than 12 Months				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Available-for-sale securities:
December 31, 2015
U.S. Government agencies	$	18,981	$	57	$	-	$	133	$	18,981	$	190
Residential mortgage-backed		43,881		328		21,263		334		65,144		662
Total	$	62,862	$	385	$	21,263	$	467	$	84,125	$	852
Held-to-maturity securities:
U.S. Government agencies	$	-	$	-	$	2,515	$	60	$	2,515	$	60

	Less than 12 Months				More than 12 Months				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Available-for-sale securities:
December 31, 2014
U.S. Government agencies	$	41,574	$	138	$	6,954	$	209	$	48,528	$	347
Residential 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 December 31, 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	$	14,695	$	14,703	$	-	$	-
Due after one year through five years		37,114		37,092		711		751
Due after five years through ten years		11,319		11,270		403		448
Due after ten years		148,519		148,459		3,077		3,044
		211,647		211,524		4,191		4,243
Equity securities		637		641		-		-
Total	$	212,284	$	212,165	$	4,191	$	4,243

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

The following table sets forth the amortized cost and estimated fair values of securities which have been pledged as collateral for obligations to federal, state and local government agencies, and other purposes as required or permitted by law, or sold under agreements to repurchase. All pledged securities are in the available-for-sale investment portfolio.

	December 31, 2015				December 31, 2014
	Amortized		Estimated			Amortized		Estimated
(Dollars in thousands)	Cost		Fair Value			Cost		Fair Value
Pledged available-for-sale securities	$	121,142	$	121,207		$	115,162	$	115,458

There were no obligations of states or political subdivisions with carrying values, as to any issuer, exceeding 10% of stockholders’ equity at December 31, 2015 or 2014.

Proceeds from sales of investment securities were $0, $988 thousand, and $40.4 million for the years ended December 31, 2015, 2014, and 2013, respectively. Gross gains from sales of investment securities were $0, $23 thousand and $913 thousand for the years ended December 31, 2015, 2014, and 2013, respectively. There were no gross losses in 2015, 2014 and 2013.