Securities (Tables)

12 Months Ended

Dec. 31, 2017

Cash and Cash Equivalents [Abstract]

Securities available-for-sale at December 31, 2017 and 2016 are as follows:


	December 31, 2017									December 31, 2016
	Amortized Cost		Unrealized					Fair Value		Amortized Cost		Unrealized					Fair Value
	Amortized Cost		Gains		Losses			Fair Value		Amortized Cost		Gains		Losses			Fair Value
U.S. Gov’t sponsored entities		$108,578	$	478	$	(908	)		$108,148		$139,823		$1,107	$	(579	)		$140,351
State & political subdivisions		134,428		3,609		(314)			137,723		153,492		4,194		(649	)		157,037
Residential & multi-family mortgage		111,214		304		(1,882)			109,636		136,807		551		(2,382	)		134,976
Corporate notes & bonds		17,610		52		(462)			17,200		18,299		77		(962	)		17,414
Pooled trust preferred		0		0		0			0		800		1,249		0			2,049
Pooled SBA		36,260		355		(575)			36,040		43,450		505		(918	)		43,037
Other equity securities		1,020		0		(58)			962		1,020		0		(49	)		971

Total		$409,110	$	4,798	$	(4,199	)		$409,709		$493,691		$7,683		$(5,539)			$495,835

Trading Securities

Trading securities at December 31, 2017 and 2016 are as follows:


	2017		2016

Corporate equity securities	$	5,125	$	3,312
Mutual Funds		1,499		1,037
Certificates of deposit		220		202
Corporate notes and bonds		254		254
U.S. Government sponsored entities		52		53

Total	$	7,150	$	4,858

Securities with Unrealized Losses Aggregated by Investment Category and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position

Securities with unrealized losses at December 31, 2017 and 2016, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows:


December 31, 2017	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S. Gov’t sponsored entities	$	55,696	$	(540	)	$	34,754	$	(368	)	$	90,450	$	(908	)
State & political subdivisions		15,890		(69	)		4,104		(245	)		19,994		(314	)
Residential & multi-family mortgage		30,144		(153	)		63,699		(1,729	)		93,843		(1,882	)
Corporate notes & bonds		5,005		(9	)		9,042		(453	)		14,047		(462	)
Pooled SBA		0		(0	)		22,270		(575	)		22,270		(575	)
Other equity securities		0		(0	)		962		(58	)		962		(58	)

	$	106,735	$	(771	)	$	134,831	$	(3,428	)	$	241,566	$	(4,199	)


	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
December 31, 2016
U.S. Gov’t sponsored entities	$	90,380	$	(579	)	$	0	$	(0	)	$	90,380	$	(579	)
State & political subdivisions		32,353		(448	)		264		(201	)		32,617		(649	)
Residential and multi-family mortgage		65,598		(1,255	)		34,611		(1,127	)		100,209		(2,382	)
Corporate notes & bonds		2,089		(11	)		8,476		(951	)		10,565		(962	)
Pooled SBA		6,481		(126	)		20,560		(792	)		27,041		(918	)
Other equity securities		0		(0	)		971		(49	)		971		(49	)

	$	196,901	$	(2,419	)	$	64,882	$	(3,120	)	$	261,783	$	(5,539	)

Roll-Forward of Other-Than-Temporary Impairment Amount Related to Credit Losses

A roll-forward of the other-than-temporary impairment amount related to credit losses for the years ended December 31, 2017, 2016, and 2015 is as follows:


	2017			2016			2015

Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, beginning of period	$	2,071		$	4,054		$	4,054
Credit losses previously recognized on securities sold during the period		(2,071	)		(1,983	)		0
Additional credit loss for which other-than-temporary impairment was not previously recognized		0			0			0
Additional credit loss for which other-than-temporary impairment was previously recognized		0			0			0

Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, end of period	$	0		$	2,071		$	4,054

Schedule of Contractual Maturity of Securities Available for Sale, Excluding Equity Securities

The following is a schedule of the contractual maturity of securities available for sale, excluding equity securities, at December 31, 2017:


	December 31, 2017
	Amortized Cost		Fair Value
1 year or less	$	50,368	$	50,139
1 year – 5 years		153,512		155,075
5 years – 10 years		50,552		51,753
After 10 years		6,184		6,104

		260,616		263,071
Residential and multi-family mortgage		111,214		109,636
Pooled SBA		36,260		36,040

Total debt securities	$	408,090	$	408,747

Information Pertaining to Security Sales

Information pertaining to security sales is as follows:


Year ended December 31	Proceeds		Gross Gains		Gross Losses

2017	$	16,340	$	1,614	$	71
2016		4,420		1,005		0
2015		105,066		1,032		366

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details