Securities (Tables)

3 Months Ended

Mar. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and fair value of securities

Amortized cost and fair value of securities at March 31, 2016, and December 31, 2015, were as follows:

In thousands	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
SECURITIES AVAILABLE FOR SALE
MARCH 31, 2016
U.S. Government and agencies	$	44,185	$	540	$	—	$	44,725
Mortgage-backed securities, residential	39,008		1,642		—		40,650
State and municipal	24,693		618		1		25,310
Corporate bonds	7,000		14		75		6,939
CRA mutual fund	1,044		23		—		1,067
Stock in other banks	702		55		36		721
	$	116,632	$	2,892	$	112	$	119,412
DECEMBER 31, 2015
U.S. Government and agencies	$	46,218	$	124	$	313	$	46,029
Mortgage-backed securities, residential	41,528		1,336		25		42,839
State and municipal	27,437		642		1		28,078
Corporate bonds	7,000		20		65		6,955
CRA mutual fund	1,044		9		—		1,053
Stock in other banks	702		49		12		739
	$	123,929	$	2,180	$	416	$	125,693
SECURITIES HELD TO MATURITY
MARCH 31, 2016
U.S. Government and agencies	$	31,029	$	190	$	—	$	31,219
Mortgage-backed securities, residential	38,657		695		2		39,350
	$	69,686	$	885	$	2	$	70,569
DECEMBER 31, 2015
U.S. Government and agencies	$	31,044	$	27	$	176	$	30,895
Mortgage-backed securities, residential	40,498		232		262		40,468
	$	71,542	$	259	$	438	$	71,363

Schedule of unrealized losses and fair value

The following table shows the Corporation’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2016, and December 31, 2015:

	Less than 12 Months				12 Months or More				Total
In thousands	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
SECURITIES AVAILABLE FOR SALE
MARCH 31, 2016
State and municipal	$	218	$	1	$	—	$	—	$	218	$	1
Corporate bond	4,925		75						4,925		75
Stock in other banks	168		36		—		—		168		36
	$	5,311	$	112	$	—	$	—	$	5,311	$	112
DECEMBER 31, 2015
U.S. Government and agencies	$	31,992	$	313	$	—	$	—	$	31,992	$	313
Mortgage-backed securities, residential	4,855		25		—		—		4,855		25
State and municipal	909		1		—		—		909		1
Corporate bond	4,935		65		—		—		4,935		65
Stock in other banks	191		12		—		—		191		12
	$	42,882	$	416	$	—	$	—	$	42,882	$	416
SECURITIES HELD TO MATURITY
MARCH 31, 2016
Mortgage-backed securities, residential	$	—	$	—	$	1,495	$	2	$	1,495	$	2
	$	—	$	—	$	1,495	$	2	$	1,495	$	2
DECEMBER 31, 2015
U.S. Government and agencies	$	18,959	$	83	$	6,907	$	93	$	25,866	$	176
Mortgage-backed securities, residential	3,109		13		15,420		249		18,529		262
	$	22,068	$	96	$	22,327	$	342	$	44,395	$	438

Schedule of amortized cost and fair value by contractual maturity

Amortized cost and fair value at March 31, 2016, by contractual maturity, where applicable, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay with or without penalties.

	Available for Sale				Held to Maturity
In thousands	Amortized Cost		Fair Value		Amortized Cost		Fair Value
1 year or less	$	11,769	$	11,857	$	—	$	—
Over 1 year through 5 years	43,679		44,416		31,029		31,219
Over 5 years through 10 years	20,265		20,536		—		—
Over 10 years	165		165		—		—
Mortgage-backed securities, residential	39,008		40,650		38,657		39,350
CRA mutual fund	1,044		1,067		—		—
Stock in other banks	702		721		—		—
	$	116,632	$	119,412	$	69,686	$	70,569