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Securities (Tables)
 6 Months Ended
Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair values of securities at June 30, 2015 and December 31, 2014 was as follows:
 
At June 30, 2015
 
Amortized 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government agencies and corporations
$
46,684

 
$
—

 
$
(827
)
 
$
45,857

Mortgage backed securities: residential
84,568

 
738

 
(581
)
 
84,725

Residential collateralized mortgage obligations
44,581

 
139

 
(354
)
 
44,366

State and political subdivisions
32,291

 
1,140

 
(136
)
 
33,295

Total Securities
$
208,124

 
$
2,017

 
$
(1,898
)
 
$
208,243

 
 
 
 
 
 
 
 
 
At December 31, 2014
 
Amortized 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government agencies and corporations
$
61,333

 
$
63

 
$
(634
)
 
$
60,762

Mortgage backed securities: residential
92,456

 
1,243

 
(479
)
 
93,220

Residential collateralized mortgage obligations
28,617

 
138

 
(220
)
 
28,535

State and political subdivisions
33,629

 
1,557

 
(131
)
 
35,055

Total Securities
$
216,035

 
$
3,001

 
$
(1,464
)
 
$
217,572
Amortized Cost and Fair Value of the Debt Securities Portfolio are Shown by Expected Maturity
Mortgage backed securities and collateralized mortgage obligations are not due at a single maturity date and are therefore shown separately.
 
At June 30, 2015
  
Amortized Cost
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
Due in one year or less
$
20,001

 
$
19,935

Due from one year to five years
31,545

 
31,617

Due from five years to ten years
21,750

 
21,784

Due after ten years
5,679

 
5,816

Mortgage backed securities and Residential collateralized mortgage obligations
129,149

 
129,091

 
$
208,124

 
$
208,243
Realized Gains and Losses Related to Securities Available-for-Sale
Gains or losses on the sales of available-for-sale securities are recognized upon sale and are determined using the specific identification method.
 
Six months ended June 30,
 
2015
 
2014
 
(Dollars in thousands)
Gross realized gains
$
192

 
$
—

Gross realized losses
—

 
(5
)
Net Securities Gains
$
192

 
$
(5
)
Proceeds from the sale of available for sale securities
$
1,920

 
$
2,327
Summary of Securities that had Unrealized Losses
The Corporation has the intent and the ability to hold these securities until their value recovers, which may be until maturity.
 
 
At June 30, 2015
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
(Dollars in thousands)
U.S. Government agencies and corporations
$
41,156

 
$
(528
)
 
$
4,701

 
$
(299
)
 
$
45,857

 
$
(827
)
Mortgage backed securities: residential
26,368

 
(248
)
 
14,858

 
(333
)
 
41,226

 
(581
)
Residential collateralized mortgage obligations
29,458

 
(354
)
 
—

 
—

 
29,458

 
(354
)
State and political subdivisions
4,932

 
(54
)
 
2,214

 
(82
)
 
7,146

 
(136
)
Total
$
101,914

 
$
(1,184
)
 
$
21,773

 
$
(714
)
 
$
123,687

 
$
(1,898
)
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2014
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
(Dollars in thousands)
U.S. Government agencies and corporations
$
—

 
$
—

 
$
43,865

 
$
(634
)
 
$
43,865

 
$
(634
)
Mortgage backed securities: residential
9,472

 
(30
)
 
26,493

 
(449
)
 
35,965

 
(479
)
Residential collateralized mortgage obligations
18,414

 
(81
)
 
3,899

 
(139
)
 
22,313

 
(220
)
State and political subdivisions
1,377

 
(8
)
 
4,095

 
(123
)
 
5,472

 
(131
)
Total
$
29,263

 
$
(119
)
 
$
78,352

 
$
(1,345
)
 
$
107,615

 
$
(1,464
)