SECURITIES (Tables)

3 Months Ended

Mar. 31, 2016

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 are as follows (in thousands):



	March 31, 2016
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	84,759	$	600	$	2	$	85,357
Mortgage-backed securities, residential	192,145		1,109		226		193,028
Obligations of states and political subdivisions	43,383		865		2		44,246
Corporate bonds and notes	747		7		—		754
SBA loan pools	625		4		1		628
Corporate stocks	284		187		—		471
Total	$	321,943	$	2,772	$	231	$	324,484



	December 31, 2015
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	99,430	$	752	$	16	$	100,166
Mortgage-backed securities, residential	199,680		427		1,741		198,366
Obligations of states and political subdivisions	43,695		737		6		44,426
Corporate bonds and notes	747		5		—		752
SBA loan pools	643		5		1		647
Corporate stocks	285		178		—		463
Total	$	344,480	$	2,104	$	1,764	$	344,820

Amortized cost and estimated fair value of securities held to maturity

Amortized cost and estimated fair value of securities held to maturity are as follows (in thousands):



	March 31, 2016
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Obligations of states and political subdivisions	$	4,577	$	286	$	—	$	4,863
Total	$	4,577	$	286	$	—	$	4,863



	December 31, 2015
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Obligations of states and political subdivisions	$	4,566	$	256	$	—	$	4,822
Total	$	4,566	$	256	$	—	$	4,822

Amortized cost and estimated fair value of debt securities by contractual maturity

The amortized cost and estimated fair value of debt securities are shown below by expected maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately (in thousands):



	March 31, 2016
	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	54,394	$	54,544	$	2,212	$	2,234
After one, but within five years	62,768		63,812		2,103		2,329
After five, but within ten years	11,727		12,001		262		300
After ten years	—		—		—		—
	128,889		130,357		4,577		4,863
Mortgage-backed securities, residential	192,145		193,028		—		—
SBA loan pools	625		628		—		—
Total	$	321,659	$	324,013	$	4,577	$	4,863

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 for the three months ended March 31, 2016 and 2015 are listed below (in thousands):



	2016		2015
Proceeds	$	15,422	$	51
Gross gains	$	908	$	50
Tax expense	$	343	$	19

Investment securities available for sale in an unrealized loss position

The following tables summarize the investment securities available for sale with unrealized losses at March 31, 2016 and December 31, 2015 by aggregated major security type and length of time in a continuous unrealized loss position (in thousands):



	Less than 12 months				12 months or longer				Total
March 31, 2016	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	5,022	$	2	$	—	$	—	$	5,022	$	2
Mortgage-backed securities, residential	50,684		198		3,998		28		54,682		226
Obligations of states and political subdivisions	1,688		1		204		1		1,892		2
SBA loan pools	—		—		244		1		244		1
Total temporarily impaired securities	$	57,394	$	201	$	4,446	$	30	$	61,840	$	231



	Less than 12 months				12 months or longer				Total
December 31, 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

- 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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