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2. Investment Securities (Tables)

9 Months Ended

Sep. 30, 2016

The amortized costs of investment securities held to maturity are carried in the consolidated balance sheets and their approximate market values at September 30, 2016 and December 31, 2015 are as follows:

	September 30, 2016				December 31, 2015
			Market				Market
(in thousands)	Cost		Value		Cost		Value

Securities held to maturity
U. S. Treasury and agency obligations	$	125	$	125	$	125	$	125
Total	$	125	$	125	$	125	$	125

	September 30, 2016
			Unrealized				Market
	Cost		Gains		Losses		Value
Securities available for sale
U. S. Treasuries	$	24,008	$	19	$	-	$	24,027
Mortgage-backed securities		679		18		-		697
Marketable equities		135		-		-		135
Total	$	24,822	$	37	$	-	$	24,859

	December 31, 2015
			Unrealized				Market
	Cost		Gains		Losses		Value
Securities available for sale
U. S. Treasuries	$	4,015	$	6	$	-	$	4,021
Government sponsored enterprises		8,081		4		11		8,074
Mortgage-backed securities		811		6		-		817
Marketable equities		135		-		-		135
Total	$	13,042	$	16	$	11	$	13,047

Schedule Amortized Cost and Fair Value for Securities

Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Securities Held to Maturity				Securities Available for Sale
	Amortized		Fair		Amortized		Fair
(in thousands)	Cost		Value		Cost		Value
Due in one year or less	$	-	$	-	$	24,008	$	24,027
Due after one year through five years		125		125		-		-
Due after five years		-		-		814		832
Total	$	125	$	125	$	24,822	$	24,859

Schedule of Securities with Unrealized Losses

The fair value and gross unrealized losses for securities, segregated by the length of time that individual securities have been in a continuous gross unrealized loss position, at December 31, 2015 were as follows (dollars in thousands):

	Less than 12 Months					More than 12 Months				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
December 31, 2015
Government sponsored Enterprises	$	6,056	$	(11	)	$	-	$	-	$	6,056	$	(11	)
Total	$	6,056	$	(11	)	$	-	$	-	$	6,056	$	(11

- Definition

Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.

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