INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Value of Available-for-Sale Investment Securities

The amortized cost and fair value of available-for-sale investment securities at December 31 are summarized as follows (in thousands):

	Amortized Cost		Unrealized Gains	Unrealized Losses	Fair Value
2016
Investment Securities Available-for-Sale:
U.S. Treasury notes	$	28,180	41	76	28,145
U.S. Agency notes	87,098		150	1,848	85,400
U.S. Agency mortgage-backed securities	72,402		89	1,444	71,047
Municipal securities:
Non-taxable	114,064		574	1,623	113,015
Taxable	19,710		220	85	19,845
Mutual funds	2,527		—	45	2,482
Trust preferred securities	49		—	1	48
Equity securities	632		55	10	677
	$	324,662	1,129	5,132	320,659
Investment Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	31,015	56	352	30,719
Taxable	9,988		—	217	9,771
	$	41,003	56	569	40,490
2015
Investment Securities Available-for-Sale:
U.S. Treasury notes	$	72,672	309	135	72,846
U.S. Agency notes	140,876		164	1,151	139,889
U.S. Agency mortgage-backed securities	29,608		174	404	29,378
Certificates of deposit	248		1	—	249
Municipal securities:
Non-taxable	103,900		1,713	134	105,479
Taxable	26,738		337	134	26,941
Mutual funds	2,517		—	51	2,466
Trust preferred securities	49		1	—	50
Equity securities	659		40	19	680
	$	377,267	2,739	2,028	377,978
Investment Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	22,233	95	97	22,231
Taxable	400		—	1	399
	$	22,633	95	98	22,630

Securities in a Continuous Loss Position

Information concerning securities with gross unrealized losses at December 31, 2016 and 2015, aggregated by length of time that individual securities have been in a continuous loss position, is as follows (in thousands):

	Less Than Twelve Months			Twelve Months or More
	Fair Value		Unrealized Losses	Fair Value	Unrealized Losses
2016
Investment Securities Available-for-Sale:
U.S. Treasury notes	$	16,076	76	—	—
U.S. Agency notes	69,784		1,848	—	—
U.S. Agency mortgage-backed securities	64,564		1,310	3,518	134
Municipal securities:
Non-taxable	72,867		1,621	451	2
Taxable	9,721		82	450	3
Mutual funds	1,205		37	277	8
Trust preferred securities	49		1	—	—
Equity securities	201		10	—	—
	$	234,467	4,985	4,696	147
Investment Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	20,429	251	2,564	101
Taxable	8,030		217	—	—
	$	28,459	468	2,564	101
2015
Investment Securities Available-for-Sale:
U.S. Treasury notes	$	32,854	75	4,846	60
U.S. Agency notes	104,053		1,000	9,869	151
U.S. Agency mortgage-backed securities	19,190		256	4,068	148
Municipal securities:
Non-taxable	13,124		74	7,037	60
Taxable	15,601		114	880	20
Mutual funds	1,215		17	268	34
Trust preferred securities	—		—	—	—
Equity securities	248		12	73	7
	$	186,285	1,548	27,041	480
Investment Securities Held-to-Maturity:
Municipal securities:
Non-taxable	$	832	3	3,426	94
Taxable	399		1	—	—
	$	1,231	4	3,426	94

Investments Classified by Contractual Maturity Date

Contractual maturities of investment securities at December 31, 2016 were as follows (in thousands).  Actual maturities may differ from contractual maturities when issuers have the right to call or prepay obligations.

	Available-for-Sale			Held-to-Maturity
	Amortized Cost		Fair Value	Amortized Cost	Fair Value
Due within one year	$	12,364	12,464	3,955	3,959
Due from one to five years	97,171		97,501	4,125	4,068
Due from five to ten years	131,950		129,289	10,081	9,845
Due after ten years	7,567		7,151	22,842	22,618
	249,052		246,405	41,003	40,490
U.S. Agency mortgage-backed securities	72,402		71,047	—	—
Mutual funds	2,527		2,482	—	—
Trust preferred securities	49		48	—	—
Equity securities	632		677	—	—
	$	324,662	320,659	41,003	40,490

Realized Gain (Loss) on Investment Securities Available-for-Sale

Certain information concerning the sale of investment securities available-for-sale for the years ended December 31 was as follows (in thousands):

	2016		2015	2014
Proceeds from sales	$	92,455	97,981	67,296
Gross realized gains	1,103		627	252
Gross realized losses	21		132	103