SECURITIES (Tables)

6 Months Ended

Jun. 30, 2015

SECURITIES [Abstract]

Amortized Cost and Fair Value of Investment Securities, by Category

Amortized cost and fair value of investment securities, by category, at June 30, 2015 are summarized as follows:

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Available for sale
Mortgage-backed securities
U. S. sponsored agency MBS - residential	$	76,141	$	674	$	(399	)	$	76,416
U. S. sponsored agency CMO's - residential		123,441		2,140		(704	)		124,877
Total mortgage-backed securities of government sponsored agencies		199,582		2,814		(1,103	)		201,293
U. S. government sponsored agency securities		14,463		98		-			14,561
Obligations of states and political subdivisions		10,044		197		(18	)		10,223
Total available for sale	$	224,089	$	3,109	$	(1,121	)	$	226,077

Amortized cost and fair value of investment securities, by category, at December 31, 2014 are summarized as follows:

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Available for sale
Mortgage-backed securities
U. S. sponsored agency MBS - residential	$	52,006	$	774	$	-		$	52,780
U. S. sponsored agency CMO's - residential		142,932		2,167		(911	)		144,188
Total mortgage-backed securities of government sponsored agencies		194,938		2,941		(911	)		196,968
U. S. government sponsored agency securities		22,553		30		(57	)		22,506
Obligations of states and political subdivisions		10,015		261		-			10,276
Total available for sale	$	227,486	$	3,232	$	(968	)	$	229,750

Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at June 30, 2015 by contractual maturity are shown below.  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.

	Amortized Cost		Fair Value
Available for sale
Due in one year or less	$	3,472	$	3,489
Due after one year through five years		17,732		17,952
Due after five years through ten years		3,054		3,093
Due after ten years		249		250
Mortgage-backed securities of government sponsored agencies		199,582		201,293
Total available for sale	$	224,089	$	226,077

Securities in Continuous Unrealized Loss Position

Securities with unrealized losses at June 30, 2015 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:

	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 government sponsored agency MBS – residential	$	30,728	$	(399	)	$	-	$	-		$	30,728	$	(399	)
U.S government sponsored agency CMO – residential		7,204		(91	)		19,292		(613	)		26,496		(704	)
Obligations of states and political subdivisions		911		(18	)		-		-			911		(18	)
Total temporarily impaired	$	38,843	$	(508	)	$	19,292	$	(613	)	$	58,135	$	(1,121	)

Securities with unrealized losses at December 31, 2014 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:

	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 government sponsored agency securities	$	9,971	$	(57	)	$	-	$	-		$	9,971	$	(57	)
U.S government sponsored agency CMO's – residential		5,194		(52	)		26,471		(859	)		31,665		(911	)
Total temporarily impaired	$	15,165	$	(109	)	$	26,471	$	(859	)	$	41,636	$	(968	)