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Securities (Tables)
6 Months Ended
Jun. 30, 2016
Marketable Securities [Abstract]  
Reconciliation from Amortized Cost to Estimated Fair Value of Marketable Securities
This table provides the major components of AFS and HTM securities at amortized cost and estimated fair value at June 30, 2016 and December 31, 2015:
 
 
June 30, 2016
 
December 31, 2015
(In thousands)
 
Amortized cost
 
Gross unrealized gains
 
Gross unrealized losses
 
Estimated fair value
 
Amortized cost
 
Gross unrealized gains
 
Gross unrealized losses
 
Estimated fair value
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
$
6,958

 
$
84

 
$

 
$
7,042

 
$
6,649

 
$

 
$
(68
)
 
$
6,581

State and political subdivisions
 
5,588

 
66

 
(4
)
 
5,650

 
10,625

 
159

 
(2
)
 
10,782

Residential mortgage-backed securities
 
23,119

 
697

 
(109
)
 
23,707

 
26,191

 
449

 
(201
)
 
26,439

Corporate and other securities
 
9,344

 
14

 
(491
)
 
8,867

 
9,404

 
71

 
(412
)
 
9,063

Total securities available for sale
 
$
45,009

 
$
861

 
$
(604
)
 
$
45,266

 
$
52,869

 
$
679

 
$
(683
)
 
$
52,865

Held to maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
$
3,774

 
$
16

 
$

 
$
3,790

 
$
3,988

 
$

 
$
(87
)
 
$
3,901

State and political subdivisions
 
2,360

 
246

 

 
2,606

 
2,364

 
187

 
(1
)
 
2,550

Residential mortgage-backed securities
 
5,651

 
177

 
(3
)
 
5,825

 
6,232

 
141

 
(28
)
 
6,345

Commercial mortgage-backed securities
 
3,849

 
114

 

 
3,963

 
3,902

 

 
(62
)
 
3,840

Corporate and other securities
 
13,094

 
95

 
(40
)
 
13,149

 
1,985

 

 
(14
)
 
1,971

Total securities held to maturity
 
$
28,728

 
$
648

 
$
(43
)
 
$
29,333

 
$
18,471

 
$
328

 
$
(192
)
 
$
18,607

Schedule of Marketable Securities by Contractual Maturity
This table provides the remaining contractual maturities and yields of securities within the investment portfolios.  The carrying value of securities at June 30, 2016 is distributed by contractual maturity.  Mortgage-backed securities and other securities, which may have principal prepayment provisions, are distributed based on contractual maturity.  Expected maturities will differ materially from contractual maturities as a result of early prepayments and calls.
 
 
Within one year
 
After one through five years
 
After five through ten years
 
After ten years
 
Total carrying value
(In thousands, except percentages)
 
Amount
 
Yield
 
Amount
 
Yield
 
Amount
 
Yield
 
Amount
 
Yield
 
Amount
 
Yield
Available for sale at fair value:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities  
 
$
7

 
1.00
%
 
$
3,800

 
1.61
%
 
$
929

 
2.08
%
 
$
2,306

 
2.04
%
 
$
7,042

 
1.81
%
State and political subdivisions    
 

 

 
581

 
2.86

 
1,526

 
3.16

 
3,543

 
2.73

 
5,650

 
2.86

Residential mortgage-backed securities    
 

 

 
780

 
2.15

 
3,513

 
2.46

 
19,414

 
2.82

 
23,707

 
2.75

Corporate and other securities
 
2,393

 
1.41

 
205

 
1.53

 
4,285

 
1.40

 
1,984

 
0.55

 
8,867

 
1.21

Total securities available for sale
 
$
2,400

 
1.41
%
 
$
5,366

 
1.82
%
 
$
10,253

 
2.08
%
 
$
27,247

 
2.58
%
 
$
45,266

 
2.32
%
Held to maturity at cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities  
 
$

 
%
 
$

 
%
 
$

 
%
 
$
3,774

 
1.97
%
 
$
3,774

 
1.97
%
State and political subdivisions    
 
264

 
0.75

 

 

 
492

 
5.08

 
1,604

 
4.63

 
2,360

 
4.29

Residential mortgage-backed securities    
 
50

 
4.19

 
70

 
4.92

 
166

 
5.22

 
5,365

 
3.07

 
5,651

 
3.17

Commercial mortgage-backed securities    
 

 

 

 

 

 

 
3,849

 
2.76

 
3,849

 
2.76

Corporate and other securities
 

 

 

 

 
11,079

 
4.81

 
2,015

 
8.80

 
13,094

 
5.42

Total securities held to maturity
 
$
314

 
1.30
%
 
$
70

 
4.92
%
 
$
11,737

 
4.82
%
 
$
16,607

 
3.59
%
 
$
28,728

 
4.07
%
Schedule of Marketable Securities in Unrealized Loss Position
The fair value of securities with unrealized losses by length of time that the individual securities have been in a continuous unrealized loss position at June 30, 2016 and December 31, 2015 are as follows:
 
 
June 30, 2016
 
 
 
 
Less than 12 months
 
12 months and greater
 
Total
(In thousands, except number in a loss position)
 
Total number in a loss position
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
State and political subdivisions
 
1

 
$
2,099

 
$
(4
)
 
$

 
$

 
$
2,099

 
$
(4
)
Residential mortgage-backed securities
 
4

 

 

 
3,924

 
(109
)
 
3,924

 
(109
)
Corporate and other securities
 
11

 
4,455

 
(194
)
 
3,900

 
(297
)
 
8,355

 
(491
)
Total temporarily impaired securities
 
16

 
$
6,554

 
$
(198
)
 
$
7,824

 
$
(406
)
 
$
14,378

 
$
(604
)
Held to maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage-backed securities
 
3

 
$

 
$

 
$
1,615

 
$
(3
)
 
$
1,615

 
$
(3
)
Corporate and other securities
 
1

 
1,500

 
(40
)
 

 

 
1,500

 
(40
)
Total temporarily impaired securities
 
4

 
$
1,500

 
$
(40
)
 
$
1,615

 
$
(3
)
 
$
3,115

 
$
(43
)

 
 
December 31, 2015
 
 
 
 
Less than 12 months
 
12 months and greater
 
Total
(In thousands, except number in a loss position)
 
Total number in a loss position
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
 
Estimated fair value
 
Unrealized loss
Available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
9

 
$
4,165

 
$
(12
)
 
$
2,416

 
$
(56
)
 
$
6,581

 
$
(68
)
State and political subdivisions
 
3

 
1,584

 
(2
)
 

 

 
1,584

 
(2
)
Residential mortgage-backed securities
 
11

 
6,195

 
(36
)
 
4,508

 
(165
)
 
10,703

 
(201
)
Corporate and other securities
 
11

 
4,730

 
(174
)
 
3,756

 
(238
)
 
8,486

 
(412
)
Total temporarily impaired securities
 
34

 
$
16,674

 
$
(224
)
 
$
10,680

 
$
(459
)
 
$
27,354

 
$
(683
)
Held to maturity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government sponsored entities
 
2

 
$

 
$

 
$
3,901

 
$
(87
)
 
$
3,901

 
$
(87
)
State and political subdivisions
 
1

 
263

 
(1
)
 

 

 
263

 
(1
)
Residential mortgage-backed securities
 
3

 

 

 
1,853

 
(28
)
 
1,853

 
(28
)
Commercial mortgage-backed securities
 
2

 
3,840

 
(62
)
 

 

 
3,840

 
(62
)
Corporate and other securities
 
1

 
971

 
(14
)
 

 

 
971

 
(14
)
Total temporarily impaired securities
 
9

 
$
5,074

 
$
(77
)
 
$
5,754

 
$
(115
)
 
$
10,828

 
$
(192
)
Schedule of Realized Gains (Losses) for Marketable Securities
Gross realized gains on securities for the three and six months ended June 30, 2016 and 2015 are detailed in the table below:

 
For the three months ended June 30,
 
For the six months ended June 30,
(In thousands)
 
2016
 
2015
 
2016
 
2015
Available for sale:
 
 
 
 
 
 
 
 
Realized gains
 
$
81

 
$
28

 
$
175

 
$
28

Realized losses
 

 

 

 

Total securities available for sale
 
81

 
28

 
175

 
28

Held to maturity:
 
 
 
 
 
 
 
 
Realized gains
 

 

 

 

Realized losses
 

 

 

 

Total securities held to maturity
 

 

 

 

Net gains on sales of securities
 
$
81

 
$
28

 
$
175

 
$
28