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SECURITIES (Tables)

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Estimated Fair Value of Securities Available for Sale

Amortized cost and estimated fair value of securities available for sale at December 31, 2015 and 2014 are as follows (in thousands):



	2015				2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	99,430	$	100,166	$	180,535	$	181,673
Mortgage-backed securities, residential	199,680		198,366		60,787		61,660
Collateralized mortgage obligations	—		—		335		338
Obligations of states and political subdivisions	43,695		44,426		30,677		31,451
Corporate bonds and notes	747		752		1,502		1,533
SBA loan pools	643		647		1,296		1,304
Trust preferred securities	—		—		1,906		2,028
Corporate stocks	285		463		285		520
Total	$	344,480	$	344,820	$	277,323	$	280,507

Gross unrealized gains and losses on securities available for sale at December 31, 2015 and 2014, were as follows (in thousands):



	2015				2014
	Unrealized Gains		Unrealized Losses		Unrealized Gains		Unrealized Losses
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	752	$	16	$	1,300	$	162
Mortgage-backed securities, residential	427		1,741		892		19
Collateralized mortgage obligations	—		—		3		—
Obligations of states and political subdivisions	737		6		802		28
Corporate bonds and notes	5		—		35		4
SBA loan pools	5		1		11		3
Trust preferred securities	—		—		122		—
Corporate stocks	178		—		235		—
Total	$	2,104	$	1,764	$	3,400	$	216

Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale by Contractual Maturity

Securities not due at a single maturity date are shown separately (in thousands):



	December 31, 2015
	Amortized Cost		Fair Value
Within one year	$	49,359	$	49,621
After one, but within five years	68,076		68,847
After five, but within ten years	26,437		26,876
After ten years	—		—
Mortgage-backed securities, residential	199,680		198,366
SBA loan pools	643		647
Total	$	344,195	$	344,357

Proceeds from Sales and Calls of Securities Resulting in Gains or Losses

The proceeds from sales and calls of securities resulting in gains or losses are listed below (in thousands):



	2015			2014		2013
Proceeds	$	72,718		$	36,258	$	2,650
Gross gains	$	410		$	6,869	$	16
Gross losses	$	(38	)	$	—	$	—
Tax expense	$	142		$	2,641	$	6

Amortized Cost and Estimated Fair Value of Securities Held to Maturity

Amortized cost and estimated fair value of securities held to maturity at December 31, 2015 and 2014 are as follows (in thousands):



	2015				2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Obligations of states and political subdivisions	$	4,566	$	4,822	$	5,175	$	5,535
Time deposits with other financial institutions	—		—		656		662
	$	4,566	$	4,822	$	5,831	$	6,197

Gross unrealized gains and losses on securities held to maturity at December 31, 2015 and 2014, were as follows (in thousands):



	2015				2014
	Unrealized Gains		Unrealized Losses		Unrealized Gains		Unrealized Losses
Obligations of states and political subdivisions	$	256	$	—	$	360	$	—
Time deposits with other financial institutions	—		—		6		—
Total	$	256	$	—	$	366	$	—

Contractual Maturities of Securities Held to Maturity

The contractual maturity of securities held to maturity is as follows at December 31, 2015 (in thousands):



	December 31, 2015
	Amortized Cost		Fair Value
Within one year	$	2,266	$	2,290
After one, but within five years	2,103		2,308
After five, but within ten years	197		224
After ten years	—		—
Total	$	4,566	$	4,822

Investment Securities Available for Sale in Unrealized Loss Position

The following table summarizes the investment securities available for sale with unrealized losses at December 31, 2015 and December 31, 2014 by aggregated major security type and length of time in a continuous unrealized position (in thousands):



	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2015	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	15,169	$	16	$	—	$	—	$	15,169	$	16
Mortgage-backed securities, residential	177,058		1,741		—		—		177,058		1,741
Obligations of states and political subdivisions	3,756		4		592		2		4,348		6
SBA loan pools	—		—		251		1		251		1
Total temporarily impaired securities	$	195,983	$	1,761	$	843	$	3	$	196,826	$	1,764



	Less than 12 months				12 months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
2014	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	57,512	$	108	$	4,945	$	54	$	62,457	$	162
Mortgage-backed securities, residential	11,051		19		—		—		11,051		19
Obligations of states and political subdivisions	4,625		22		1,056		6		5,681		28
Corporate bonds and notes	—		—		243		4		243		4
Corporate stocks	276		1		316		2		592		3
Total temporarily impaired securities	$	73,464	$	150	$	6,560	$	66	$	80,024	$	216

Roll Forward of Cumulative Credit Losses Recognized in Earnings

The table below presents a roll forward of the cumulative credit losses recognized in earnings for the periods ended December 31, 2015, 2014 and 2013 (in thousands):



	2015		2014			2013
Beginning balance, January 1,	$	—	$	1,939		$	3,506
Additions/Subtractions:
Reductions for previous credit losses realized on securities sold during the year	—		—			(1,596		)
Reductions for previous credit losses realized on securities liquidated during the year	—		(1,939		)	—
Increases to the amount related to the credit loss for which other-than-temporary impairment was previously recognized	—		—			29
Ending balance, December 31,	$	—	$	—		$	1,939

Securities Pledged to Secure Securities Sold under Agreements to Repurchase

The table below shows the securities pledged to secure securities sold under agreements to repurchase at December 31, 2015 and 2014 (in thousands):



	2015				2014
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Obligations of U.S. Government and U. S. Government sponsored enterprises	$	22,988	$	23,267	$	36,195	$	36,641
Mortgage-backed securities, residential	20,453		20,589		7,934		8,350
Collateralized mortgage obligations	—		—		48		48
Total	$	43,441	$	43,856	$	44,177	$	45,039

- 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.

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- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

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- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

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