Securities (Tables)

12 Months Ended

Dec. 31, 2015

Securities [Abstract]

Securities Available for Sale

The amortized cost and fair value of securities as of December 31, 2015 and 2014, by contractual maturity, are shown below (in thousands). Expected maturities may differ from contractual maturities because the securities may be called or prepaid with or without prepayment penalties.

		December 31, 2015
Securities Available for Sale						Gross		Gross
		Amortized		Fair		Unrealized		Unrealized
Type and maturity		Cost		Value		Gains		Losses
Obligations of U.S. Government agencies and corporations
Within one year	$	1,000	$	1,003	$	3	$	-
After one year but within five years		24,489		24,264		19		(244)
After five years but within ten years		7,495		7,465		7		(37)
		32,984		32,732		29		(281)
Obligations of state and political subdivisions
Within one year		5,756		5,771		15		-
After one year but within five years		16,070		16,151		101		(20)
After five years but within ten years		7,204		7,282		78		-
After ten years		330		331		1		-
		29,360		29,535		195		(20)
Mortgage-backed securities		88,159		87,741		213		(631)
Equity securities		1,692		2,319		645		(18)
Total	$	152,195	$	152,327	$	1,082	$	(950)

		December 31, 2014
Securities Available for Sale						Gross		Gross
		Amortized		Fair		Unrealized		Unrealized
Type and maturity		Cost		Value		Gains		Losses
Obligations of U.S. Government agencies and corporations
Within one year	$	4,510	$	4,566	$	56	$	-
After one year but within five years		39,110		38,723		31		(418)
After five years but within ten years		6,996		6,812		1		(185)
		50,616		50,101		88		(603)
Obligations of state and political subdivisions
Within one year		9,903		9,934		31		-
After one year but within five years		16,822		16,853		78		(47)
After five years but within ten years		8,609		8,748		143		(4)
After ten years		340		338		-		(2)
		35,674		35,873		252		(53)
Mortgage-backed securities		55,123		55,429		367		(61)
Equity securities		1,055		1,500		475		(30)
Total	$	142,468	$	142,903	$	1,182	$	(747)

Summary of Proceeds and Realized Gain/(Loss)

Following is a summary of proceeds received from all investment securities transactions and the resulting realized gains and losses (in thousands):

				Years Ended December 31,
		2015		2014		2013
Gross proceeds from sales of securities	$	53,213	$	14,631	$	-
Securities available for sale:
Gross realized gains from sold and called securities	$	83	$	43	$	-
Gross realized losses from sold and called securities		(70)		(34)		(2)

Schedule of Gross Unrealized Losses and Fair Value

The following table shows gross unrealized losses and fair value, aggregated by category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2015 (in thousands):

		Unrealized Losses at December 31, 2015
		Less Than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Losses		Value		Losses		Value		Losses
Obligations of U.S. Government
agencies and corporations	$	10,887	$	(102)	$	12,814	$	(179)	$	23,701	$	(281)
Obligations of state and political
subdivisions		7,469		(13)		692		(7)		8,161		(20)
Mortgage-backed securities		57,454		(631)		-		-		57,454		(631)
Debt securities		75,810		(746)		13,506		(186)		89,316		(932)
Equity securities		62		(3)		75		(15)		137		(18)
Total temporarily impaired securities	$	75,872	$	(749)	$	13,581	$	(201)	$	89,453	$	(950)

The following table shows gross unrealized losses and fair value, aggregated by category and length of time that individual securities had been in a continuous unrealized loss position, at December 31, 2014 (in thousands):

		Unrealized Losses at December 31, 2014
		Less Than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Losses		Value		Losses		Value		Losses
Obligations of U.S. Government
agencies and corporations	$	6,998	$	(26)	$	32,515	$	(577)	$	39,513	$	(603)
Obligations of state and political
subdivisions		5,592		(33)		2,426		(20)		8,018		(53)
Mortgage-backed securities		13,550		(60)		95		(1)		13,645		(61)
Debt securities		26,140		(119)		35,036		(598)		61,176		(717)
Equity securities		31		(2)		179		(28)		210		(30)
Total temporarily impaired securities	$	26,171	$	(121)	$	35,215	$	(626)	$	61,386	$	(747)